Playa del Carmen is a beautiful tropical city located on the Caribbean Sea in the state of Quintana Roo, Mexico. One of the most popular tourist destinations in all of Mexico, Playa del Carmen has beautiful white sand beaches and a lively cultural scene. It’s also home to one of the fastest-growing real estate markets in Latin America. In this article, we’ll take an in-depth look at property prices for this city and answer the question: how much does it cost to buy a house in Playa del Carmen? We’ll also tell you about important considerations that can affect your property purchase price.
How much does it cost to buy a house in Playa del Carmen?
It’s normal to wonder what you can expect from your budget when buying a house in Playa del Carmen. Average prices for houses in Playa del Carmen vary from neighborhood to neighborhood, but range anywhere from $150,000 to $4,000,000 USD.
The cost of an average house in Playa del Carmen is around 1/2 the cost of an average American home.
A typical home in America costs around $150 per square foot. In comparison, a typical home in Mexico costs only between $80 and $130 per square foot.
What does the average house price include?
In addition to the purchase price of a home, there are other expenses that go along with owning property that you will have to account for.
Typical expenses include:
- property taxes (varies depending on location but usually under 1% of the value)
- utilities (around $50/month)
- HOA fees and maintenance depending on the type of property you buy.
What is the average price of a house in Playa del Carmen?
The average price of a house in Playa del Carmen is $232,158 USD. The average price of a condo in Playa del Carmen is $174,927. According to statistics in 2019.
In conclusion the average cost of a house in Playa Del Carmen is more expensive than the average cost of a condo by 53% or less.
Playa del Carmen Real Estate Market Overview
Playa del Carmen is one of the fastest growing cities in Mexico, and it’s easy to see why. The city has a thriving social scene with plenty of bars, restaurants and clubs, while also boasting some of the most beautiful beaches in the world. The area also has convenient access to many attractions such as cenotes, Mayan ruins and quaint beach towns like Tulum and Puerto Morelos.
What’s more, Playa del Carmen has a large expat community and is popular with both digital nomads who want to work remotely while enjoying warm weather year-round as well as retirees looking for a place to settle down abroad. It’s one of the few places in Mexico where you can find an established English speaking community that offers a good quality of life at an affordable price.
But don’t think that all this comes cheap; Playa del Carmen real estate prices are on the rise as demand for property in this part of Mexico increases. In fact, Playa del Carmen real estate prices are expected to rise significantly over the next few years for reasons we’ll discuss later.
How much do typical expenses cost in Playa del Carmen?
Depending on how you plan to live in Playa del Carmen, your monthly expenses may differ, but some typical costs include:
- Utilities (gas, water, electricity): $50-$200
- Internet: $50-$200
- Groceries: $200-$400 (depending on the type of food you buy)
- Eating out: $100-$$300 per month (depending on how often you eat out)
- Transportation (if you don’t have a car): $20-30 per month
- Entertainment and activities (drinks/food at a bar, going to the gym, etc.): $$200+
An understanding of the costs of expenses, real estate and property taxes will help you develop a Mexico budget.
The first thing you’ll need to do is to create a budget that’s realistic for your lifestyle. To do this, you’ll want to understand the costs of living in Playa del Carmen, which vary depending on your lifestyle and whether or not you’re native Spanish-speaking. A good rule of thumb when doing this is to plan out monthly expenses and compare them with what you expect to spend annually. Once you have all of these numbers in front of you, it’s time to start developing a Mexico budget!
Your Mexico budget will be different than the one used by someone else in the same country as yourself because of the differences in their lifestyles. If someone has children or owns their own business, they may not be able to live on an annual income that covers just basic necessities like food and rent; instead, they must also include things like childcare costs or health insurance premiums into their budgeting process. For most people though, creating a Mexico budget isn’t too difficult once all expenses are accounted for—it just requires some planning ahead and figuring out how much money needs to go into each category (and where).
Buying a house in Playa del Carmen can be affordable.
You will find that buying a house in Playa del Carmen can be expensive, but it’s also possible to get a good deal. If you want to buy a house in Playa del Carmen, you should know that the price of a home depends on the neighborhood, size, and amenities.
There are many factors that determine the cost of buying a house in Playa del Carmen. One important factor is where you live. The neighborhood has an impact on the price because some areas are more desirable than others. Also, if you want to buy a beachfront property or one near the ocean it will be more expensive than other places.
Another factor is what type of home do you want? Do you prefer houses with multiple bedrooms and bathrooms or something smaller?
Find Your Property in Playa del Carmen Mexico today
Now that you know what real estate will cost in Playa del Carmen, you may be curious as to specifics. If you’re ready to start looking for your future home or investment property, hop on over to our property search page and take a look at some of the fine homes, condos, and lots available throughout the city. To ensure this process goes smoothly and quickly, we recommend contacting one of our bilingual agents here at Caribe Luxury Homes Mexico.
Our team can help you find properties that match your preferences for space and location as well as your budget. We’ll prioritize views and amenities based on what’s important to you. We’ll arrange showings accordingly—and even drive you around in a private vehicle (with snacks!) so that you can focus on enjoying the neighborhood instead of stressing out about driving directions.
Once we’ve found a property you love, we’ll draw up an offer sheet with suggested terms and explain any contingencies that might be necessary (such as financing). Then we’ll present it to the seller’s agent according to local protocols before negotiating back-and-forth with the seller until acceptable terms are reached. Once an offer is accepted by both parties, our real estate agents will coordinate all legal paperwork required by Mexican law in order to complete your purchase safely and securely!
Related articles:
How Much Does It Cost To Live In Riviera Maya Mexico?
How Much Is An Expensive Beach House In Mexico?
How To Become A Real Estate Agent In Riviera Maya Mexico As A Foreigner
