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Why Vacation Rental Prices In Mexican Caribbean Hotspots Are Skyrocketing This Year

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Vacation rentals are becoming increasingly popular in Cancun and the Mexican Caribbean as officials continue to introduce new laws to regulate the growing trend.

According to new data from the Quintana Roo Tourism Secretariat, prices have risen by as much as 159% in certain hotspots as more and more travelers seek out affordable deals.

a vacation villa in a popular resort hotspot in the mexican caribbean

In 2024, the coastal region has more vacation rentals than ever before, offering travelers unprecedented choice when it comes to accommodation.

Offering everything from humble rooms to luxury villas, the number of vacation rentals offered through platforms such as Airbnb has skyrocketed across the sun-soaked region and is expected to continue an upward trend this year.

With demand outpacing supply, prices have risen by as much as 159%.

view of overwater bungalows in the mexican caribbean

As travelers book more Airbnbs than ever before in Cancun and the Mexican Caribbean, here’s a look at the most expensive locations for vacation rentals.

New Report Shows Vacation Rental Prices Continue To Skyrocket As Demand Soars

While hotels & all-inclusives continue to dominate the hospitality industry in much of the Mexican Caribbean, vacation rentals are quickly increasing in popularity.

The rise of Airbnb and other rental services means that finding and booking a vacation rental is easier than ever.

Despite the booming number of available properties, the average nightly rate has risen by over half, reaching $165 per night on average in the Mexican Caribbean.

User of Airbnb app

That’s according to a new report published by Quintana Roo’s Secretariat for Tourism (Sedetur), which shows that the average rate for online rentals has increased across the board in the sunny region.

According to the study, the lowest nightly rates are currently found near Tulum, in Felipe Carillo Puerto, with travelers paying just under $40 per night for one of the city’s dozens of online rentals.

Meanwhile, Akumal’s vacation rentals will set travelers back an average of $296 per night in 2024, making the southern hotspot the most expensive in the region.

Cancun Sign in the Sand on a Beach

Destinations like Playa del Carmen, Tulum, and Mahahual also recorded huge increases in average nightly rates for vacation rentals, with prices skyrocketing anywhere from 158% up to 307%.

In Cancun – a city which is home to over 6000 vacation rentals alone – nighty fares rose by 129% compared to last year.

a beautiful pathway on top of clear water in the mexican caribbean

The report also shows that Cancun, Holbox, and Cozumel are currently the most popular Mexican Caribbean hotspots for vacation rentals, with each destination seeing occupancy rates of up to 70%.

Even so, online rentals aren’t still quite as popular as traditional resorts, which typically see occupancy rates of nearly 100% during peak travel times.

Woman Booking a Vacation Online

A growing number of travelers are choosing to stay in one of over 40,000 vacation rentals in the Mexican Caribbean.

From increased flexibility to more authentic stays, vacation rentals are a home-from-home.

One of the most significant benefits of opting for online rentals in the Mexican Caribbean is the convenience of being able to stay close to busy downtown areas, such as Playa del Carmen’s Fifth Avenue.

Most all-inclusives are situated further away from the hustle and bustle of popular resort hubs.

beautiful beach in Playa Del Carmen

But as vacation rental bookings increase, travelers are also being warned to keep an eye on scams and other fraud plaguing the market.

Only book through official channels, like Airbnb, avoiding social media websites and illegitimate deals seen elsewhere on the internet.

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