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Last week I visited the island of Cozumel, Mexico to meet with James Watts and Greg Czora of RE/MAX Complete Cozumel real estate. During the conversation, Greg invited me to visit one of his listings called "Mariposa Estates". So I accompanied him and spent about an hour or so finding out about the area, viewing the lots and learning some very interesting things I did not know about this residential development.
Mariposa Estates first opened in 2001 with 30 lots for sale in Phase 1 and some additional land for future development in Phase II. It is an ecologically friendly development forforest style living on the southern part of Cozumel that starts about 300 meters back into the forest directly across the road from some of the best beaches on the island, Playa Mia, Paradise Beach, and San Francisco Beach Club. The lots continue back for almost 2 kilometers to within about a mile of
El Cedral. Mariposa Estates is on the new highway that runs from the car ferry pier at Puerta Maya to Punta Sur, the southern most tip of Cozumel. Along this highway is where the next major growth area for Cozumel is starting to happen. But because the new growth has only just begun and because the developer has taken a low-keyed approach to sales, the Mariposa Estates development is one of the best kept secrets on the island. Yet in spite of that, there are only about 7 lots still available for sale, each of which is 2 hectares (20,000 sq. meters or about 5 acres each).
Greg has a home and lives on lot #11 (see website for pics), Cristina Roman of "Dive with Cristina" has built one casita on Lot #3 with plans for more,Jorge and Bianca who run the restaurant in town by the same name have
applied for building permits and hope to complete their home by early 2008 on Lot #14. Two other lot owners have similar plans to build in the nextyear. As we sat enjoying a cold drink on Greg's pool deck in total peace and quiet, I realized how nice it was NOT to hear the sounds of scooters,construction, loud music, or cars and trucks going by. Instead, I could hear the birds and the nice breeze rustling the branches and leaves in the surrounding forest. Amazingly, there were no flies or mosquitoes, none.Only the gentle cool ocean breeze. Greg said, "If you like this, you should see this place at night when the stars and the fireflies are out!" Yes, there are mosquitoes once in a while but typically only after a very heavyrain that leaves standing water. It is not something that happens often as the rock is very porous and the water drains quickly. Speaking of water,Greg has plenty of potable well water all year long and his two tank Rotoplast septic system is approved by the city government.
Contrary to many
rumors, Mariposa Estates has had electricity since 2003. Each lot is
surveyed and marked with numbered posts, and each lot has its own title and Catastral (tax ID) number at the Palacio (townhall in Cozumel). There are only two homes built in Mariposa Estates so far, but that is nowchanging. Greg tells me, "the reason for the slow development is because most of the buyers want the land for future retirement homes or as aninvestment." In the past 6 years lots have increased in value by about 90%
and that is projected to continue. The new zoning law being passed this summer is going to increase the density substantially, but it will never be "crowded" in Mariposa Estates because even with the new zoning the limit is one home per hectare(about 2.5 acres). Greg emphasized that people have to know something about land values to appreciate the bargain these lots represent. If you ask, most real estate people in Cozumel will tell you that away from the beach and outside of town or other developed areas, vacant lots with a good access road and electricity sell for $30 to $70 USDper square meter ( = about 10 square feet, so that is about $3 to $7 per square foot).
The lots in Mariposa Estates are priced between $74,600USD and $89,600 USD. This means someone can even buy the highest priced lots at $89,600USD, and when you do the math: 89,600USD divided by 20,000 square meters is equal to only $4.48USD persquare meter (or about $0.45 US cents per square foot). In other words, the lots in Mariposa Estates are undervalued in the general property market of Cozumel by a large amount. This is partly due to the developer's low-key sales approach and also because new development is just starting to the South of town. Word has it that there are plans for two more hotelsin the area (possibly with another golf course), plus the fact that the nearby former Reef Club is now owned by Wyndham Hotels & Resorts. It means that the value of the lots in Mariposa Estates will catch up to the market in the not toodistant future.
This is a PERFECT opportunity to still get in on the ground floor before the price catches up with the market in Cozumel Mexico.
It's all waiting for you at Mariposa Estates in Cozumel, a beautiful, tranquil, and potentially
a very profitable place. If you want to take advantage of this opportunity or want more information about this project please contact Greg Czora of Remax in Cozumel. His email is
This email address is being protected from spam bots, you need Javascript enabled to view it
or visit thier website www.cozumelforsale.com
Bill Mabra--editor, Riviera Maya Real Estate News
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