Hi, I’m Ryan Gravel—real estate investor, consultant, and developer—and today, I want to share some incredibly exciting news that has the potential to redefine Bacalar as the next hot spot for real estate investment. Ichkabal, a newly opened Mayan city said to be larger than Chichen Itza, is finally accessible to the public. This isn’t just an archaeological milestone; it’s a game-changer for Bacalar’s investment potential. Let’s break down why.
Imagine a Mayan City Larger Than Chichen Itza
Yes, you read that right. Chichen Itza, often considered the crown jewel of Mayan civilization, now has competition. Ichkabal spans a staggering 37 miles, dwarfing Chichen Itza’s modest 4 square miles. Its towering pyramids rise 46 meters above the dense jungle canopy, and the site’s historical significance dates back over 2,400 years to the Middle Preclassic period of the Mayan civilization. My wife and I had the chance to visit the site on a private tour in 2021 before its opening, and this place is massive—I MEAN MASSIVE. According to INAH’s General Director Prieto Hernández, Ichkabal is poised to become a ‘great cultural attraction’ in southern Quintana Roo.
The timing couldn’t be better. With the launch of the Maya Train, Bacalar is now easily accessible from key destinations like Cancun, Playa del Carmen, and Tulum. For tourists who have made the journey down south, Ichkabal’s proximity to Bacalar makes it an irresistible destination. Imagine the ripple effects on tourism—and, by extension, on real estate investment.
Comparing Ichkabal to Chichen Itza
Let’s put this into perspective with some numbers. Chichen Itza attracts over 2.5 million visitors annually, with monthly averages exceeding 200,000 tourists during peak seasons. Many of these are day-trippers, but a significant portion stays overnight in nearby accommodations. Bacalar’s advantage lies in its appeal as more than a one-hit wonder. Tourists visiting Ichkabal will likely extend their stays to enjoy Bacalar’s stunning Lagoon of Seven Colors, boutique hotels, and tranquil atmosphere.
Scenarios That Make This Appealing for Investors
Scenario 1: Modest Visitor Numbers
- Let’s say Ichkabal attracts just 50% of Chichen Itza’s annual visitors—about 1.25 million tourists per year or approximately 100,000 per month.
- If just 10% of these visitors (10,000 per month) extend their stay in Bacalar, that’s an influx of 120,000 overnight guests annually.
- With Bacalar’s current limited inventory, this alone could increase the occupancy rates for rental properties by 20-30%, depending on the season and availability.
Scenario 2: Extended Stays
- Assume that visitors who stay in Bacalar for Ichkabal extend their trips by an average of three nights.
- With an ADR (average daily rate) currently hovering around $120 USD for boutique rentals, those three nights per guest add up to an additional $360 per visitor.
- Multiply this by the 120,000 overnight guests from Scenario 1, and you’re looking at an additional $43 million in annual revenue injected into the Bacalar rental market.
Scenario 3: Higher Occupancy and Rates
- As Bacalar’s popularity grows, ADRs are likely to increase by 10-20% due to heightened demand.
- If your property currently rents at $150 per night with a 60% occupancy rate, a 20% ADR increase and a bump to 75% occupancy could boost your annual revenue by 35-40%.
- For example, a two-bedroom unit generating $32,850 annually could see earnings rise to $45,000+ per year.
The Investment Potential: ROI, Appreciation, and KPIs
Here’s where things get exciting for us as investors. The opening of Ichkabal is a catalyst for growth, driving increased tourism, foreign investment, and real estate appreciation in Bacalar. Let’s break it down:
- Tourist Volume and Demand: With Ichkabal expected to draw hundreds of thousands of visitors annually, Bacalar will experience unprecedented foot traffic. This surge will create a pressing need for rental properties, boosting occupancy rates and ADRs.
- Limited Inventory: Bacalar’s boutique market is still in its infancy. Unlike Tulum or Playa del Carmen, Bacalar doesn’t have an oversupply of vacation rentals. This lack of inventory means investors who act now can secure competitive pricing and benefit from premium returns as demand skyrockets.
- Appreciation Rates: Real estate values in Bacalar are already on the rise, thanks to infrastructure projects like the Maya Train. With Ichkabal’s opening, we’ll see even greater appreciation as more tourists discover the area and more foreign capital flows in.
- Emerging Market Advantage: Investing in Bacalar now is like getting into Tulum 10-15 years ago. Prices are still reasonable, but they won’t stay that way for long. Projects like Namaste Bacalar, where pre-sale discounts are still available, offer an incredible entry point for investors seeking high ROI.
Why Ichkabal Matters for Bacalar’s Growth
The unveiling of Ichkabal isn’t just about tourism; it’s about transformation. Southern Quintana Roo has long been overshadowed by its northern counterparts, but with Ichkabal as a major draw, Bacalar is stepping into the spotlight. The region’s unique combination of cultural heritage and natural beauty creates a compelling case for long-term investment.
Think about it: tourists visiting Bacalar for Ichkabal won’t just come for the ruins. They’ll stay to explore the lagoon, enjoy the boutique hotels, and savor the area’s laid-back charm. This will lead to a proliferation of longer stays, higher spending, and a thriving rental market.
Final Thoughts: Seize the Opportunity
As a real estate professional and investor, I can’t overstate how monumental the opening of Ichkabal is for Bacalar. The combination of a world-class cultural attraction, enhanced accessibility via the Maya Train, and a burgeoning real estate market presents a rare opportunity.
If you’ve been considering investing in an emerging market, now is the time to act. Projects like Namaste Bacalar offer an excellent entry point, and the potential for appreciation and ROI is unparalleled. Don’t wait for the market to explode; get in while prices are still competitive.
Let’s talk about how you can position yourself to benefit from Bacalar’s transformation. The next decade will be an exciting one for this region, and I’d love to help you be part of it. For a deeper dive into how Ichkabal’s opening transforms Bacalar’s real estate landscape, check out our detailed analysis here. Discover why this newly unveiled Mayan city is a game-changer for investors with insights on rising tourism, limited inventory, and the unparalleled potential for ROI in this emerging market.