Playa del Carmen real estate has been named among the 9 Best Places to Buy Real Estate Overseas In 2017 by Live and Invest Overseas, after a review of the world map to locate the top real estate investment destinations and determine where to invest money on offshore investment properties.
“Playa is the fastest-growing city in Latin America and enjoys an active resale market; an important advantage when you decide to liquidate,” wrote the Huffington Post. “Property prices aren’t super cheap, but yields are strong.”
Why Invest in Playa del Carmen Real Estate?
Situated just south of the Cancun International Airport in the heart of the Riviera Maya overlooking the Mexican Caribbean Sea, downtown Playa del Carmen is a thriving, modern, cosmopolitan city with a distinct international flair and some of the best beaches in the world. Fortunately, the area also retains a firm grasp on its ancient Mayan heritage, making for an exciting mix of culinary delights, outdoor adventures, shopping and entertainment options that is like nowhere else in the world.
“Playa is home to over 10,000 foreigners – expats make up 7% of its total population – including many Europeans, Americans, Canadians, Argentinians, Venezuelans and many more nationalities,” wrote Live and Invest Overseas. “It’s a great time to buy in Mexico.”
Real estate in Playa del Carmen is also attractive for investors because it offers average appreciation of around 12% annually and Riviera Maya real estate simply won’t depreciate. Also, real estate investing in the Riviera Maya region can even beat the stock market, offering an impressive return on investment that runs between 8% to 14% annually for vacation home rentals.
Also, real estate is bought and sold using U.S. dollars in Mexico, but owners pay expenses like maintenance, taxes, utilities, etc. in pesos. This gives another distinct advantage to investing in Mexico, because the peso is at an all-time low against the U.S. dollar.
Playa del Carmen Safety & Tourism Numbers
Finally, anyone thinking about buying investment property in Mexico should know that downtown Playa del Carmen is safer than many U.S. cities and was just voted the “Friendliest City in Latin America” by Expedia. And as for tourism, Playa del Carmen and the Riviera Maya, together with Cancun, have been the top vacation destinations in Mexico for years and even attract the same number of tourists as the entire countries of Brazil and Argentina combined!
“Average occupancy rates are above the regional average…as high as 80% per year and better,” wrote the Huffington Post of vacation home rentals in Playa del Carmen.
Have you ever looked into buying real estate in Playa del Carmen? What are the major challenges you have faced? Let us know in the comments!
Would you like to know more about buying real estate in Mexico? Click the following link to read A Beginner’s Guide to Vacation Home Rentals as Income Producing Investments!