When someone mentions the idea of investing in cheap real estate, most people usually imagine something out of the way, and, for some reason, less than 100% desirable. The lure of low prices is meant to outweigh the inconvenience of the location. Sometimes distant promise of gentrification also adds a possibility for value appreciation.
This is NOT the case of Playa del Carmen condos for sale in the city’s north end. Located on the Caribbean cost of Mexico’s Yucatan Peninsula, less than an hour south of Cancun, Playa del Carmen has become famous for some of it’s upscale beachfront communities; the new developments just north of town along the beachfront area known as Xcalacoco have already established themselves as one of the city’s nicest areas, and continues to strengthen this image with every new development that appears.
On the other hand, there are still very affordable condos available in new communities in this area. In fact, they are some of Playa del Carmen’s cheapest, and the ones that are pricier – directly on the beachfront – are still incredibly well priced for what they offer. The reason? The area is still very new, and under development. As the development fills in, this will change, quickly.
Let’s consider some of the benefits of living in this part of Playa del Carmen.
The Beachfront. One of the main motivations for buying real estate in Playa del Carmen is to live near the soft, white, sandy beaches and the beautiful turquoise water of the Caribbean. The development of this area is extended along Xcalacoco beach. Even the developments which are not directly on the beach offer short walks and good driving access.
Golf. With 8 professional courses in the area, Playa del Carmen has been called Latin America’s golf capital; two of these courses are located within these developments just north of Playa del Carmen, including “El Cameleon,” host to Latin America’s first PGA event.
Driving Access to Shopping. Two of Playa del Carmen’s biggest recent road infrastructure projects have directly benefited access to shopping areas from the north end of the city. The first of these projects was an “arch road” bypass, called the “Arco Vial,” which is a 6-lane access road with a palm-lined median. The north exit to this bypass from the main highway is less than 5 minutes away from most of the communities near Xcalacoco beach; another very short drive (also less than 5 minutes) brings residents to a new Walmart, just opened in December, 2010. Just past this store is Playa del Carmen’s second large mall, with a movie theater that plays many movies in English, and good selection of stores.
This area, known as “La Cruz” is to become home to Playa del Carmen’s new civic, shopping and business center, with an upscale outdoor plaza also on the way. All of this is less than 10 minutes away. One of the major benefits of living in Mexico is that a low cost of living and relaxing lifestyle is combined with modern conveniences which North Americans are used to from back home. This newly developing part of Playa del Carmen is a perfect example of that.
The other major project is a series of bridges being built on the Cancun-Playa del Carmen highway over the main intersections heading downtown. With ramp access to each major intersection, these bridges will make it faster to arrive to the downtown area, where residents can enjoy the dining, shopping and nightlife of Fifth Avenue (the pedestrian street which runs parallel to the beach) and to several more large supermarkets, including the city’s first Walmart.
These same bridges will make for quicker access to the south end of Playa del Carmen where the city’s first mall is located. This mall also offers a large-screen movie theater with English movies, a large supermarket, and a club store. There is also a Sam’s Club and several restaurants across the highway. This drive will also probably be less than 10 minutes.
Cancun International Airport. This part of Playa del Carmen is the closest to the Cancun International Airport, which is only a 40 minute drive away. Since the airport is located at the south of Cancun, there are no urban areas to drive through to arrive. The airport is Mexico’s second busiest, and offers direct flights to a large number of North American destinations. Recently, an increasing number of discount airlines have been bringing more options for cheap, direct flights. Among these are the Canadian Westjet, which offers non-stop trips to places like Toronto or Calgary for lower prices than the usually cheaper stop-overs in the U.S.
There are also efforts being made to develop this airport as an international travel hub linking North America to South America, and even Africa. As this role develops, there will be growing number of well-priced flight options to many places beyond North America – ideal for the adventurous spirits who enjoy visiting new places.
Value appreciation. As mentioned above, prices are still low in many of the communities due to the fact that they are new; combined with the many benefits of this location, which is already clearly emerging as an upscale area, values are sure to rise.
Some condos are being sold as low as $125,000 USD, with penthouse units being offered at an early purchase discount for only $135,000 USD! Even the regular price of $165,000 is very low for a penthouse in Playa del Carmen within walking distance of the beach, and a view of the sea.
Other types of properties for sale are likewise inexpensive in comparison to similar choices in other parts of the city, whether they are a small complex of modern villas, or luxury beachfront condos in a resort setting.
Another important benefit of many Mexico real estate purchases is that they offer the possibility of bringing an income through vacation rentals for owners who do not use their property all year. Since tourism is also growing in this section of Playa del Carmen with a number of established resorts, vacation rentals should also be a real possibility within the near future. Some of the developments, especially the condo-resorts, have been especially created to focus on this kind of income.
This is quite possibly the best area within Playa del Carmen currently available for well-priced condos, in a solidly upscale area; it already offers a good deal in terms of lifestyle, convenience and value, and promises to offer more in the near future.
TOPMexicoRealEstate.com: Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely
About the Author: Thomas Lloyd, Founder and President of TOPMexicoRealestate.com
Originally from Indiana, and a graduate of Purdue University in the Krannert School of Management, he holds a degree in management with a speciality in finances. Lloyd has several diplomas and certifications in Mexico Real Estate topics and is one of only a few professionals to hold Mexico’s new degree in real estate. This degree is accompanied by a Professional Identification Number, “cedula profesional,” which is issued for trained professionals such as those in the medical field, or in law. He has over 15 years of direct experience in Mexico’s business culture.