On Monday, November 15th, important information for the Playa del Carmen real estate market was released from Mexico’s federal government. The federal budget for the year 2011 was released, designating about $1.2 billion USD (15.6 billion pesos) to the state of Quintana Roo, which also includes Cancun, Tulum and Cozumel.
The information included a breakdown which allots about $300 million USD, or 25% to law, justice, public order and security, which to date has been a strong point in Playa del Carmen, a very safe community.
Education and health received about $800 million USD or 65 %. While most Americans and Canadians in Playa del Carmen rely on the private systems, this investment is important for the healthy development of a growing community.
About $60 million USD are designated for economic development.
Tax revenues are also expected to see an increase of about 10% from 2010. Currently Quintana Roo is one of the states in Mexico which generates the highest revenue. In planning expenses, however, the state government is cautious, counting for only a slight increase, even though they are optimistic about a strengthening economy both nationally and on the state level.
The amount of funds invested into Playa del Carmen and this state, both from private sources and through government initiatives are an important factor for those investing in Mexico homes or condos, providing expanded and improved infrastructure and services.
The expansion of quality roads and other urban infrastructure has been an especially important factor in the viability of Mexico land investment in this state.
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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. In the summer of 2009, he received the first federally applied Mexico Real Estate Degree and Mexico Professional Real Estate License S.E.P. #5978657. He is the current president of TOPmexicorealestate, you can contact him at (512) 879-6546 or through the company’s web site www.TOPmexicorealestate.com NETWORK
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