If you are a potential Playa del Carmen real estate buyer, you may wonder how growth has affected the market. It’s clear that those who invested a while back have cashed in, but what about for those buying now? As we will see here, the area’s ongoing growth continues to be a positive element in Playa del Carmen’s real estate market. The reasons why include:
- New Services – The growth of the area continues to bring new services for real estate buyers. Recent examples include Playa del Carmen’s second mall with a large-screen theater, the city’s second Walmart and new highway bridges bypassing the busiest intersections. Upcoming additions include a new upscale outdoor plaza and a second state-of-the-art hospital. As growth continues, buyers can continue to count on new conveniences and services appearing.
- New Real Estate Options – With growth comes a greater variety of real estate availability. In addition to the classic options – condos on the beach, downtown and in gated communities – recent years have also seen an excellent variety of golf course real estate, including lots, homes and condos (with the accompanying professionally-designed golf course.) There are also new gated communities appearing a little further back from the beach offering even lower prices. The growth has also given the city the funds to pave improve roads in areas that developed in less-than-ideal circumstances now opening them up for gentrification; some buyers are already considering “fixer-uppers.”
- Growing Demand – Growing real estate options have come in response to growing demand. While the growth has stayed within the limits of the demand, the demand has not been so high as to cause huge jumps in prices over the past few years. The demand is increasing steadily, pointing to good potential for ongoing value appreciation and potential for return on investment.
- New Investment Opportunities – Of course, this combination means that no one has “missed the boat.” While the days of buying cheap land near downtown have passed, there are always new opportunities to invest in land, condos or homes in areas that are developing newly or are just beginning to capture attention.
- Small-town Atmosphere Maintained – Through all of this, the original small-town atmosphere of Playa del Carmen has been carefully maintained. While traffic has increased somewhat (although by no means to a high extent) the downtown area is still quaint and offers that provincial, walk-every relaxing lifestyle.
Many indicators suggest that Playa del Carmen will continue to grow, and the shape of this growth suggests that this will only be a good thing for Playa del Carmen real estate.