Could this happen here in the Riviera Maya? Will this type of potential buyer forgo buying here in the Riviera Maya now that his profits have disappeared?

We asked the areas 8 Top Professionals to opine and share their thoughts about this market trend and how it affects our robust real estate market here in the Riviera Maya.

RANDY BONDS - BRIC INTERNATIONAL "This decline in existing home prices was expected by everybody in the market." say Randy Bonds from Bric International, a major developer who has several large projects in the Riviera Maya. "Real Estate is a cyclical market just like the stock market and there will always be ups and downs in the trends. This correction that we are experiencing is greatly needed to put some sort of normality in the appreciation. The Riviera Maya, as well as the rest of the world, is going to be directly related to what is occurring in the US. These are some of the savviest purchasers all around the world and when they are trying to figure out their next move in the states and where the market is leaning they are more likely to avoid the foreign market. The Riviera Maya over the last two years experienced some of the highest % returns out of any other region in the world. This doesn’t go without certain consequences following when most investors are priced out of the market. The next two years are going to be very important to see the reactions of the builders and owners of condominiums and houses in this region. Builders that are under funded and in the middle of a build are going to be running into financial disarray with the lack of funds for completion and therefore selling at a great discount or packing up and leaving the project incomplete. Investors that currently own with the intention of reselling for a great profit are going to be a little disappointed with the buying market. We will start seeing another buyers market when builders and current owners start the price war downward. Investors, builders, and owners need to realize that patience at a time like this is very important and this region is going nowhere and is still one of the most beautiful and highly desired areas for real estate in the world. Looking back at the stock market in the early 2000’s and where it is now is not much different than what we are going to see in the real estate market over the next 2 – 3 years. This is a time to relax and reevaluate the up and coming years."