According to the Hotel Association of the Riviera Maya, Playa del Carmen is about to see 2 more projects take significant steps forward:
- The recovery of 2 km (1.25 miles approx.) of beaches
- The completion of the new image for 10th Ave
Both are good for real estate in the area, lending strength to the impression we have that this winter will see a boost in interest and in sales.
The Beach Recovery
A couple of years back, all three levels of government cooperated to do a massive, large-scale recovery of many of the beaches in Playa del Carmen which had been eroded by weather. This year, the municipality will be continuing this program on a stretch of 2 km, or about 1.25 miles.
The beach recovery has re-widened many parts of the beach to between 40 and 100 meters, ensuring that the most attractive feature of Playa del Carmen remains wide and spacious.
10th Ave
For the most part, Playa del Carmen’s downtown tourist area has been limited to the strip along Fifth Ave. Running parallel to Fifth, only block further away from the beach, 10th has been more focused on local and practical needs. While there are some restaurants, bars and even hotels, the newly improved image, which includes a very nice bike path may help to establish 10th Avenue as part of the tourist area.
For the completion of both projects, the municipality will be receiving a total of 30 million pesos (about $2.5 million USD) from federal and state sources.
Both projects will improve lifestyle in the town and continue to make real estate in the downtown area more attractive and increase investment potential.
So far this year sales are on an upward swing, and I fully expect there to be more property sales during the upcoming winter season as compared to last year.
What does this mean for buyers?
Currently there are some excellent price reductions on the market which have lingered through the low season; my prediction is that come November, these will disappear quickly.
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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 16 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 president of Top Mexico Real Estate. Contact him at (512) 879-6546.
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