There's a hustle and bustle on Isla Mujeres that smacks of New Year's high season. The newspapers are reporting government figures for 90 percent occupancy. Seems a bit high for the number of people we see out an about at night, but daytime traffic on the island certainly is up!From my viewpoint, reservatons are a bit soft for January, as is the case every year. and pretty good for February. Will it last? Only time and Bernanke will tell.
A Mexican real estate agent says Americans are not buying. But, he said, Mexicans from all over the country are buying land and building new apartments and small hotels. The American word overbuilt comes to mind!
1 comment:
I've no doubt that Americans aren't buying! Home values have dropped by as much as 40% in our neck of the woods and people are just hanging onto their primary homes if they can. With the number of new rooms on Isla and the current world economic conditions, I'd say Isla is already overbuilt. But that's my glass half empty viewpoint!
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