Are you thinking about finally getting your dream home or condo in Playa del Carmen? You are feeling lost, don’t know where to start, with who you need to talk? We feel you and We get you. It has taken many years of experience and work to get to where we are in the Real Estate biz.
Perhaps you have come to Playa del Carmen several times staying at all-inclusive resorts and maybe this lovely beach city charmed you enough to want to take a leap of faith to do an investment worthy of your time, effort and your money. In this quick but clear Ultimate guide: Playa del Carmen Real Estate, you will find everything you need to know about Where you should buy in Playa del Carmen, how is the Real Estate Market budget wise and how the future looks like for Playa del Carmen.
Where is the best location to buy in Playa Del Carmen?
If you are starting to look you might have one of three ideas in your head as to where you want to purchase. These are:
- A dream beachfront property.
- An investment property to rent and get revenue during peak season.
- A Calm neighborhood to perhaps live after your retirement. Something near the beach and 5th Avenue with much quieter.
Let’s examine each point to see in which one you fit the best.
I dream many have of opening their eyes and having right there the beautiful Mexican Caribbean it is a wonderful one but in fact a very limited due to the lack of property availability. Beachfront properties are not easy to find and if there is one available it might have a long waiting list and many offers. Although it is most likely to find a beachfront property is Playacar, the longtime residential luxury area.
Are there beachfront condos in Playa del Carmen?
If the idea of a condo drags more your attention the best is to focus on the north side of this lovely beach city. Look for opportunities between the 28th Street and the 46th most well known as CTM Avenue. This area is called Coco Beach, known for the calmness and crowds because is out of the hotels, bars and nightclub areas. Just to give you an int the first few avenues such as 1st Avenue and Cozumel Street are most likely to have an ocean view if the building has at least 4 or more floor levels.
Look at the wonderful view from one of our Units on Sale.
What is the Playa Del Carmen Real Estate Market like budget wise?
Like we said before, one of the main areas you should be looking at is between the 28th street and CTM avenue, here you’ll find the most rentable properties to rent out during the peak season of the year and maybe visit once or twice during the year.
The golden rule, if you are looking for a rental property the first question that needs to come out is “What will be my ROI or return on investment? This is the most important thing and will make a huge impact on your investment decision. Remember, your ROI will depend on property value, amenities, location and having The Best Property Management company doing the hard marketing work for you!
There are a lot of If’s in this ultimate guide but there is a reason, you have choices and your own decisions to make. Let’s jump into the Key subject, BUDGET!
Keeping your budget lower than $150,000 USD? Sadly but true you will most likely have to look on the other side of the highway far away from the beach and pleasant areas near the 5th Avenue. The 307 Highway is strangely the point where the property prices drop and things start to get financially reachable for a tight budget. There are infinite possibilities and you might get the opportunity to buy a downtown property for under $150,000 USD but is most likely to be in bad shape, too old or too small to live comfortably. Beyond the 307 Highway, you can get a property for even $50,000 USD.
Medium Housing Options
Talking about a budget between $170,000 USD and maybe $270,000 USD things start to get easier and make sense. You could absolutely afford a cozy home near downtown. The areas with a lot more investment opportunities are the Coco Beach area and Playacar Phase 2 ranging between $160,000 USD and $270,000 USD.
Top of the Top Real Estate in Playa Del Carmen
Here is where things get wonderful. With a budget like this If you are looking to invest between $300,000-$2,000,000 in a property, you should focus on Playacar Phase 1 or 2, or the new amazing developments around Playa del Carmen or maybe open your horizons to Tulum or Puerto Aventuras. But of course for $300,000 and up you surely can afford to buy on the north end of Playa Del Carmen, center and many penthouses around the downtown. Take a look of our lovely Real Estate Playa del Carmen Listing
Condos investment in Playa Del Carmen
Most condo developments in Playa del Carmen downtown are around 8 years old. You can find small studios or even 3-floor luxury penthouses around the block.
If you are considering to buy a condo make sure to look for the specifics that will make the difference on your ROI, such as location, size of the condo, size of the building unit wise and amenities. In the case you are looking for a live/rent opportunity take into consideration in what are will be. Investing in a bigger building you get the chance to enjoy different services such as inside gym, indoor or rooftop pool, spa and even rooftop bar. All of this will affect directly in the popularity of your unit and the number of rents per year you get.
You can find here a few condo developments in the market:
Playa del Carmen itself was named the fastest growing city in the world once a quiet fishing village on the beach.
Nationally and internationally Playa del Carmen occupies one of the Top Places inside Mexico for people to invest and this is a factor driving more and more investment. People coming for North America and Canadiens are looking to the south of Mexico to purchase and retire and this looks to be a continued trend. Now talking about our fellows on the other side of the Atlantic (Europe), The Riviera Maya is more a place to relax and visit for a couple of months but not yet for a strong lifetime investment. Then we can say that our neighbors from Chile and Argentina are the next strong contestants in the Real Estate Market for purchasing properties in The Riviera Maya due to the strong economies of each country.
So overall looking at Playa del Carmen with a domestic and also globally point of view, this city is in a point of raising and growing in a success path for investments.
If you want to have a more clear view of Playa del Carmen in the following 4 years make sure you read this interesting article named Prediction of Playa del Carmen in 2020
We hope you have enjoyed reading about real estate in Playa Del Carmen and all this information is helpful one day for your future plans. See you next time!