Recent news in Playa del Carmen real estate prices points to ongoing opportunities for buyers. While at first glance the news may not appear favorable, a closer evaluation shows that it is in fact good news for current buyers.
The news is that Playa del Carmen has ousted Cancun as the city of southeast Mexico with the highest property prices, currently enjoying a boom similar to that which Cancun experienced Cancun a few years ago.
At first, this news looks doesn't look so exciting; why would you choose a higher priced market over a lower priced market in a similar area?
But there is a very important point to remember is that these are average prices; beachfront in Playa del Carmen holds higher value since their are no highrises, and beachfront property offers a very comfortable lifestyle.
There is a healthy number of new developments in Playa del Carmen, both a few blocks back from the beach downtown, and in new and established gated communities. Spacious Playa del Carmen condos for sale in nice complexes can be found for as low as $130,000 USD within walking distance to the beach. Preconstruction discounts make on these prices provide excellent deals. A short drive to the beach, condos can be found even lower prices.
Playa del Carmen homes for sale can also be found for very competitive prices. In newly developing outlying gated communities, in up-and-coming areas, villas and single homes can be found for only slightly more than half the price of the more established areas.
Here's the best news from an investment perspective; since value is generally healthy in Playa del Carmen, and the area is experiencing a "boom" in values, these new developments are very likely to catch up with the rest of Playa del Carmen in the near future. This is especially true of the areas that are emerging as upscale areas, but still offer low prices since they are new. Playa del Carmen has been a healthy market showing an steady increase in values, resilient to the drops that many areas experienced during the recession, also offering price stability.
The other good news is that the ongoing growth of value is very closely tied to the area's strength in tourism, which has likewise continued to grow steadily, only dipping slightly during 2009. This means that as tourism continues to grow, the growing market of buyers will continue to support healthy growth in real estate values.
For those interested in the surrounding area, Tulum is expected to experience a similar boom in less than five years.
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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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