Playa del Carmen has been on the map for one of the fastest growing areas in Latin America. It is a tourist destination that attracts millions of visitors worldwide. The resplendent beaches, 5th Avenue pedestrian strip, and variety of restaurants has left the visitors with the fever for more. From a small sleepy fishing village to a bustling tourist town, Playa has something for everyone.
The international community that resides in Playa along with the local community has created a melting pot of culture within the area. There is a sort of fusion that has happened to create social alchemy in the town. The famous 5tha avenue, home to a plethora of delectable restaurants, cafes, boutiques, nightlife and live music, creates an ambience like no other. There is no need to drive as you can stroll leisurely without any traffic on the road. It is 1 block to the beach and a very walkable town overall.
One of the big attractors for people vacationing or relocating is the quality of life. The cost of living makes the lifestyle appealing on all levels, whether its dining out, excursions, or going to the super market.
Many people have caught onto the idea of investing because they have seen an opportunity. The vacation rental market has dramatically grown over the past 7 years. Playa del Carmen has become a very attractive investment spot due to the location to Cancun airport and proximity to the beach.
Properties in Playa del Carmen require a much lower initial investment and higher returns than many other places such as: United States, Europe, and Canada. This makes investing in the area both convenient and appealing. Playa del Carmen has also had a recent surge in foreign buyers due to the current COVID situation. People want to be in this area and living their dream life when there are such uncertain times. This also caused an increase in the renters coming to stay longer than just a vacation. This makes the market extremely flexible for investment as there are all types of renters which creates a high demand.
There are main reasons why people invest in Playa del Carmen. The first being the location. Location is everything in Real Estate and there is a high demand for the area. Playa Del Carmen is an accessible community where the Caribbean Sea is right there as well as everything else one could need. The location is also important for the equity gains in the area. The land values alone have grown exponentially over the past 10 years and continue to do so.
The next reason would be the tourism that exists here. There are so many people who visit the area and love the idea of a condo or house to rent for their vacation. This creates adynamic rental market where people tend to stay for longer periods of time and there is a lot of reservations. That is essential for ensuring the properties get rented.
After that is the quality of life that exists in Playa del Carmen. The national currency makes living in the area easy and people are able to enjoy a higher quality of life than their native countries. Medical Care is fantastic and taxes pale in comparison to taxes elsewhere. This puts Playa del Carmen on the forefront of Real Estate markets.
Overall, Playa del Carmen captures the hearts of the vacationers and investors alike. It is still a great time to invest and enjoy the benefits of appreciation and or rental returns. Reach out for more information to Azul Meixco Realty and one of our advisors will be happy to assist you with your search.
Over