Deemed “the next global village,” by the Herald Online,real estate in Playa del Carmen is quickly being snatched up by savvy international investors,and has managed to grow in value - even through the recent global economic meltdown. But until the last few years,this safe-haven investment opportunity has been largely overlooked by the majority of buyers due to a lack of knowledge about the many benefits that Playa del Carmen real estate can provide.
Located on Mexico’s Yucatan Peninsula in the state of Quintana Roo,“Playa” as the locals like to call it,lies along a pristine stretch of Caribbean coastline known as the Riviera Maya. Here,visitors and ex-pats get to enjoy unlimited access to the world’s second largest barrier reef,which lies just offshore,as well as to some of the most impressive ancient Mayan ruins in existence.
It’s really no surprise the population here has “exploded” in recent years,considering TripAdvisor ranked Playa as one of the top two Best Beach Vacations in the world. In fact,this laid-back,charming beach town has also received countless accolades from retirement journals and other travel experts.
“The town has undergone a renovation boom in recent years,” writes Chicago Magazine. “Playa del Carmen’s all-inclusive properties strive to be not only luxurious but also culturally significant and environmentally sound.”
Situated one hour south of Cancun and just north of the up and coming eco-chic town of Tulum,Playa is often said to have the best of everything that both of these two popular destinations have to offer. With a growing population of 150,000-plus,Playa del Carmen is quickly developing its very own vibe,created by the unique blend of local culture,beach vacationers,ex-pats,retirees,world-class dining,state of the art medical care and shopping that is both fabulous and familiar. In fact,the area is home to many retailers,including Starbucks,Home Depot,English-speaking movie theaters,Sam’s Club and much more,that will be immediately recognizable to visitors – especially from the U.S. and Canada,but also from Europe and many other international destinations.
Investors who are interested in Playa del Carmen should be aware that there are a wide variety of options available in the area that can easily suit any portfolio requirement. For example,longer-term options that involve land banking (the age-old practice of buying land in a desirable area and waiting on it to appreciate in value before selling or developing the property) are still plentiful,while other shorter-term options such as condos and homes also bring with them the opportunity for income from renters.