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A Journey Into Paradise

Playa del Carmen Tourism Boom Prompts Real Estate Investment Opportunity

19 August, 2015

As the 2015 summer high season comes to an end in Mexico,it’s clear that Playa del Carmen is once again emerging as one of the nation’s top tourism destinations,which is great news for investors who are ready to cash in on the Riviera Maya’s booming real estate market. 

“During the last three weeks of the busy tourist season,between 25,000 and 30,000 visitors have toured the areas along the [Playa del Carmen’s] famous Fifth Avenue,” Gerardo Valades Victorio,president of the Business Coordinating Council of the Riviera Maya (CCERM) told Riviera Maya News. “In the region where most of the tourist facilities and hotels are located,they’ve been operating at around 90 percent.”

According to Victorio,at least 40 percent of the visitors are from domestic tourism,while approximately 20 percent are Americans and 20 percent are Europeans,and the remaining 20 percent or so hail from around the world and other parts of Latin America,such as Argentina,Bolivia,Brazil and Colombia. Also known as Quinta Avenida in Spanish,the popular Fifth Avenue shopping district in Playa del Carmen begins at south First Street and runs all the way to 42nd street and is home to thousands of stores with offerings ranging from food,crafts and clothing,to cafes,restaurants and nightlife. 

“The building of new malls,shops and the inclusion of international brands around Fifth Avenue have proven successful,” Victorio added.

All of the continued tourism growth and the steady stream of visitors who have come to Playa del Carmen during the 2015 high season also equates to good news for the city’s real estate market,International Living reported,calling it a “boom town” that is “becoming something more than just a hot spot for travelers.” A variety of key indicators are cementing Playa’s status as a worthy real estate market,including Mexico’s growing middle and upper classes,as well as the Riviera Maya’s growing reputation as an “Internationalized” place that is drawing new residents from a variety of global destinations.

“Playa del Carmen is attracting mobile people from across the world,” writes International Living. “Italians,Russians and retirees from North America. World-class chefs are being drawn there from Mexico City. Business people from Guadalajara are coming.”

International Living compares the real estate market in Playa del Carmen to those of Miami and South Florida over the past 30 years,citing the Riviera Maya’s fantastic weather,excellent quality of living,high earning opportunities and world-class amenities. In addition,living here is safer than many U.S. cities,the schools in Playa del Carmen are amazing and the medical care is top-notch. 

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