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Playa del Carmen Real Estate - State Budgets $ 1.2 billion for 2011


Thomas Lloyd,  Broker By Thomas Lloyd
2010-12-13

Since the realization that the area has some of Mexico's highest potential for tourism about a decade ago, Playa del Carmen real estate has received an increasing amount of investment from many sources, including the various levels of government. The state budget of Quintana Roo, which includes Playa del Carmen and Cancun, for 2011 confirms this trend, again allotting large amounts to development of the area.

 

Early in November 2010, the Head of the State Treasury, Gonzalo Herrera Castilla, submitted to Congress the 2011 tax package, composed of the draft Law on Income and Expenditure Budget, for the amount of 15.6 billion pesos (1.2 billion USD).

 

The states budget shows investment on developing a safe and healthy society, which will, in the long term as well as short term, protect and increase values of Playa del Carmen real estate. Over the past years, the state and municipality have also modernized budget and spending practices, increasing confidence for investors. The growth and large amounts of investment taking place in the area have been the drive factor of the excellent return buyers continue to see in Playa del Carmen land.

 

Herrera also provided a general breakdown of the tax package by functional distribution of expenditures. The government sector including law, justice, public order and security, among others, was allotted 3.1 billion pesos (about 240 million USD) which represents 24.9% percent of the budget.

 

For what is referred to as the social sector, mostly education and health, the budget allots an investment of 8.2 billion pesos, which represents 65.4 percent, for economic development, the amount of 697 million pesos (a bit less than 60 million USD) or 5.5 percent, while investments still to be allocated receive the amount of 534 million pesos (about 42 million USD), 4.2 percent of the project.

 

Non-programmable spending, which applies to the state debt is projected at 411 million pesos and transfers to municipalities such as Solidaridad, where Playa del Carmen is located about 2.539 million pesos.

 

A total amount of 340 million pesos was allotted for the Judiciary branch of the state, which shows an increase of 12.4 percent compared with the previous fiscal year's budget. Included in this budget are increases in education, health, law enforcement, public safety and public investment, showing an increase in effort to maintain the area's safe and pleasant lifestyle atmosphere.

 

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Region:  Playa del Carmen real estate.

Thomas Lloyd graduated from Purdue University Krannert School of Management with a degree in Management/Financial Option Investments. He has been living, investing, and working professionally in Mexico for over 15 years. A Mexican Certified Realtor he is the current president of TOPmexicorealestate, you can contact him at (512) 879-6546.

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