Playa del Carmen property investment can be an excellent financial undertaking with good return. Yet, many buyers hesitate to consider this aspect because they believe that since “you need money to make money” this kind of investment is still only for the already well-to-do. However in Playa del Carmen, there are excellent low-priced options with good investment potential. Buyers on a lower budget can consider the following options.
Low-Priced Downtown Condos – While right along the beachfront and in the most popular expat neighborhoods, prices have risen according to Playa’s growing fame, there are corners of downtown tucked away back from the main tourist and expat areas where prices are much lower. Many of these condos are beautiful and offer virtually the same benefits of those in the more popular areas – pools, nice open-concept design, beautiful finishes, etc. They are even within walking distance to the beach and shopping areas. The best immediate source of return on these would be long-term rental (vacation rental is more successful within a block or two of the beach.) As Playa keeps growing and the redevelopment of downtown grows, these areas might also become “noticed” and increase in value simply for that reason.
New Gated Community Condos – There are new gated communities near downtown that are still in the early stages of development. Since much of the community still hasn’t been developed and stores and services have not yet arrived, the prices are surprisingly low. Yet downtown and the malls are only a 10 minute drive away. The beach is within walking distance. The biggest potential for these is appreciation as these upscale communities fill in. Long-term rental may also be a consideration.
Golf-Course Community Condos – There are some beautiful golf-course communities, such as Playacar, which is right next to downtown. Some of the condos in communities like this are also very low priced. One advantage is that they will also qualify for mortgages. Long-term rental is appealing due to the walking distance to the golf course, and the picturesque nature of the communities – tree-lined roads, bike trails, large, beautiful homes, etc.
Fixer-Upper Homes – Right next to downtown, there are a couple older working-class neighborhoods. These are within walking distance to some of the most beautiful beaches in the area, as well as to Fifth Avenue, the heart of Playa del Carmen’s tourism activity. Somewhat neglected or never-finished (but well-built) homes can be found for excellent prices. As upscale hotels go in along the beachfront, many observers are expecting that gentrification is coming soon – and with it, rising values.
If you are buying on a lower budget, talk to an experienced agent about how you can make your real estate purchase in Playa del Carmen a profitable investment.