Playa del Carmen was recognized by Guinness Book of World Records to be the fastest growing city in the world and for the entire last decade has been the fastest growing city in Latin America. It is very well known in chic circles, welcoming the most cosmopolitan people from North and South America, Europe, and most recently, Asia, to its crystal clear blue waters and powder white sand beaches. But recently, with huge demand and no way to for supply to meet it, all but those with deep pockets have been priced out of the market.
Today’s announcement of Caribbean Living a development in Playa del Carmen with townhomes from $99,000 USD, and 2 bedrooms condos from $59,000 USD that Americans and Canadians can own, has changed the dynamic of Real Estate in Playa del Carmen.
“What we are seeing is a chance to allow a buyer who is not wealthy realize their dream of having a place in one of the most exclusive zip codes in this hemisphere” says Leah Campbell, lead broker at American Realty. “For the last number of years when someone only had $100,000 to spend they usually ended up in Tulum or Merida because the prices were lower. This is the equivalent of affordable high quality homes in Manhattan, you just don’t see it!”
It is not only the price that is catching fire. The project is over 10 years in the making, with high quality building practices aimed at the American and Canadian Market. Playa del Carmen has long been associated with environmentally friendliness and this project plays into that theme perfectly. The houses are have been built with energy saving building materials, are pre-equipped for high speed internet connections and even have options for solar power, not something typically found at this price point anywhere.
“For North Americans it’s really an easy transition”, explains Leah, “the plugs are the same so all your electronics work without a hitch, all the stores accept dollars or pesos, there is even a Costco and Sam’s Club for when you want a taste of home.”
Sam’s and Costco notwithstanding, Playa del Carmen has over better than 500 restaurants makes it a Foodie’s must visit, with so much competition keeping the prices reasonable. With Real Estate in Playa del Carmen suddenly so affordable, we think we will splurge a bit and try something more fancy.
For more information on this project contact Leah Campbell