Surprises in real estate can be a really bad thing, or a really good thing, depending on what kind of surprise they are. Here’s a really good surprise in Mexico real estate; consider TOP Playa del Carmen real estate market – what do you think of the idea of buying land? Well, if you’ve had a brief encounter with the area, you’ll probably think that because the market is well into its boom, land in the core has gone up drastically in price and it’s probably just better to focus on other property types.
Here’s the surprise; did you know that Playa del Carmen land has risen in value over 20% in parts of the city? How is this possible in this kind of market? Consider the following points:
- Two of the three points above are correct – As most people would quickly notice, and as we stated above, Playa del Carmen is well into its boom, and consequently demand for land in the downtown area has made land prices in that area skyrocket. These conditions would normally create a market shift towards other property types, and have done so for the most part; however, in other parts of the city, land continues to offer excellent return on investment.
- Playa del Carmen continues to be one of the fastest growing communities in Latin America – This means that new areas are being developed – many new areas, all the time. It is these areas where buyers have to look in order to find those land value increases. Those simply looking for affordable land a short drive from the beach can also consider these areas; Playa del Carmen is still small, and the beach is never far off.
- A variety of demands on the land is helping to push up prices – These new areas have demand from new residential areas, new commercial needs and even nice new gated communities for expats. There is no lack of different development types for investors to consider. Of course, single home lots can likewise be found for low prices and high potential for value increase. With the most recent urban plan, the area that is now newly developing will soon be the urban center.
- Some high-potential areas have received very little attention – What if you’re just interested in having a nice home a walk away from the beach more than investment? There are neighborhoods about a 10 minute walk from the beach, and very close to downtown, that have received little attention so far. Lots and cheap homes are easily found. Of course, and investor will also want to take notice of these area.
With so much bad news around about real estate, this is a nice surprise for once, isn’t it?
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