Playa del Carmen’s Fifth Avenue, the popular pedestrian walkway in the heart of downtown, will be getting a facelift. This announcement is part of the “Urbanization and Tourism in Playa del Carmen,” project, which is aimed at upgrading the city and formulating a more tourism-friendly town. Playa del Carmen will receive an estimated $1.5 million in an effort to improve lighting, add more public benches, and develop a new public beach access, which will be developed on 88th Street.
Having already been recognized by the Guinness Book of World Records for having one of the fastest growing real estate markets in the world, this makeover is another positive sign for those who have invested in Playa del Carmen real estate. The international credit evaluator Standard & Poor’s recently upgraded the long-standing credit rating for Playa del Carmen from BBB to an A,a nd with the amount of funds the government is investing in the town it’s easy to understand why! In a time where Mexico property taxes remain low, it’s a telling sign for buyers to see that their tax dollars are being used in an efficient manner.
Investing in real estate in Playa del Carmen has been a hot topic of discussion for a number of media outlets over the past few months and it’s easy to understand why. Mexico attracts well over 21 million visitors each year and collects around $13 billion from them annually. The government is committed to improving the city’s infrastructure, a number of world renowned hotel chains have already set up shop, and the city is as vibrant as it’s ever been. There has never been a better time to invest in Playa del Carmen; make that dream come true!