With the strong U.S. dollar creating property bargains for Americans, there has never been a better time than right now to invest in the Playa del Carmen real estate market, according to U.S. News & World Report. Named among the top six places to buy property overseas, Playa – as the locals like to call it – is also one of the most popular tourism destinations in the world.
“The U.S. dollar is at record high against several currencies of note, including the euro, the Mexican peso, the Colombian peso, the Dominican peso and the Brazilian real,” wrote U.S. News & World Report. “If you’re considering combining the adventure of living or retiring overseas with a property purchase, 2017 is the year to act.”
Offering an impressive variety of dining, shopping and entertainment options, this growing Caribbean town is a colorful blend of rich culture and the latest trends, giving downtown Playa del Carmen it’s very own cosmopolitan, yet Old World feel. In addition, the entire Riviera Maya region, which stretches for more than 80 miles along the Mexican Caribbean coast from Cancun through Playa del Carmen to Tulum, is home to the best beaches in the world and a variety of ancient Mayan ruins, so it’s really not surprising that investing is also thriving right now in this area.
U.S. News & World Report reported earlier this year that the Playa del Carmen real estate market is among the top six best places to buy property overseas, citing its “strong and growing rental demand thanks to greater numbers of both foreign and domestic tourists.” And although prices wouldn’t be classified as “cheap,” Playa also has strong yields and average occupancy rates are above the regional average, hitting 90 percent this spring.
Property is traded in U.S. dollars in the Riviera Maya, but carrying expenses are calculated in pesos, which offers another nice edge for foreign buyers, since the Mexican peso hit an all-time low against the U.S. dollar. earlier this year.
“Playa is the fastest-growing city in Latin America and enjoys an active resale market,” wrote U.S. News & World Report. “[This is] an important advantage if and when you decide to sell.”
Finally, be sure to work with a respected real estate investment advisor who has the connections and experience to guide you through every step of the process.
Have you been thinking of buying property in Playa del Carmen? Let us know in the comments below!
Want to more about what life is really like in the Mexican Caribbean? Click the following link to read a few Surprising Reasons Playa del Carmen is a Great Place to Live!