Playa del Carmen usually appears in people’s minds as a touristic and holiday destination. And it is not for less: white sand beach, a unique turquoise sea, its proximity to other important points of the Mexican Caribbean such as Tulum, Cancun and Cozumel, as well as its charming and it’s vibrant culture makes it a true paradise. But have you ever thought of this city as a destination for investments? Maybe this article makes you consider it.
Why to invest in Playa del Carmen?
Quintana Roo is one of the great economic areas of Mexico. Currently, Playa del Carmen maintains the highest urban growth rate, with its nearly 150,000 inhabitants, representing an increase of 32% in less than 10 years. This has placed it as the city with the highest percentage of growth in the country and in Latin America. In fact, the entity contributes 2.3% of net income to the mexican economy.
This location stands out not only as a great tourist destination, but also as an area of great value for real estate investors. Here are 6 reasons to choose this city as the next destination to make your money grow:
1. Holds the first place among the 10 most requested tourist destinations of Mexico
This privileged point in the Mexican Caribbean occupies the first position among the 10 most popular destinations in Mexico in the Traveler’s Choice 2019 list. Also, it has the 17 place in the list of the best destinations of the world for 2019, according to TripAdvisor. This stands out on it’s more than two million national and international travelers a year. In 2018, Playa del Carmen closed with 100% of its occupation, whichthe month of July closed with 84.44% of it’s occupancy. This data indicates that Playa del Carmen is still one of the preferred tourist destinations nationally and internationally.
2. The price of the Dollar against the Mexican Peso
In the last five years, the Mexican peso has lost more than half of its value against the US dollar. Currently, one dollar is equivalent to almost 20 Mexican pesos, making real estate much more attractive for US and Canadian buyers. The Euro is not far behind, since this currency also has a strong advantage, estimating its value in approximately 22.5 pesos per euro. This translates into profits of up to 15% for international investors, representing a considerable advantage over national buyers.
3. Increased demand for vacation rentals
More and more, tourists prefer to rent an apartment or house, instead of staying in hotels during their vacations. This is evidenced by the Return on Investment rate of condos and home rentals in this entity that, according to the Mexican Association of Real Estate Professionals, can reach up to 18% or more.
4. It will be the next luxury destination in Mexico
According to official sources, Playa del Carmen will receive investments for over 600 million pesos with the intention of preparing the city to receive the Mayan Train, a federal project. In addition, this city has attracted huge investments since 2016, focused on making of this destination a luxury lifestyle retail with the best international brands. Gourmet restaurants, glamor shopping centers, galleries and the most exclusive lifestyle will soon become a reality these Mexican Caribbean beach.
5. Its strategic location
Just an hour away from Cancun airport, connecting with Tulum, Chichen Itza and Valladolid, and just 30 minutes by ferry to Cozumel Island, Playa del Carmen becomes not only a place of passage for many visitors a year, but it makes it a strategic place for business and investment.
In addition to the construction of new roads and the improvement of maritime routes, the Federal Government announced the creation of a railroad that will connect this entity with Cancun and Tulum in the coming years. This will further facilitate the connectivity of Playa del Carmen with more than 50 airlines and almost 100 international flight firms that operate daily at the Cancun International Airport.
6. Quality of life
It is common to find among the residents of Playa del Carmen, people who arrive there to spend a holiday season and decided to stay to live, delighted by the lifestyle of the city. Its excellent infrastructure, urban services and first level hospitals, as well as its vibrant offer of bars, restaurants, ecoparks, archaeological sites and a modern nightlife, make this destination the perfect place to live. Only in the last two years, about 30 thousand people have come to live in the heart of the Mexican Caribbean, which greatly impacts the growth of the real estate market, thanks to the demand for housing and condos.
Without a doubt, this is the best moment to invest in Playa del Carmen and take advantage of the growth and economic boost of the city. Whether to live, sell in the future or rent, investing today in this paradisiacal mexican beach will take you to a better future.