Playa del Carmen, located on the Caribbean coast of Mexico, is a popular destination for tourists and expats alike. With its beautiful beaches, lively nightlife, and diverse culture, it’s no surprise that the demand for real estate in Playa del Carmen has been on the rise.
However, as with any popular destination, real estate prices can be high. The question is, is it possible to find a property in Playa del Carmen for under $100,000? In this article, we will explore the possibility of finding affordable real estate in Playa del Carmen, and what factors have an impact on the real estate prices in this popular destination.
The State of the Playa del Carmen Real Estate Market
Currently, the average price for a property in Playa del Carmen ranges from $200,000 to $500,000, depending on the size, location, and type of property. However, as with any real estate market, prices can vary greatly depending on a number of factors.
One of the main factors that affect real estate prices in Playa del Carmen is the location. Properties located closer to the beach or in more desirable neighborhoods will typically be priced higher.
Additionally, the type of property also plays a role in determining the price. Properties such as apartments and condos are more affordable than houses and villas.
The impact of the COVID-19 pandemic on the real estate market caused an increase in prices, and some property owners have increased prices due to the growing demand from foreigners such as Americans and Canadians. However, with the borders of Mexico only temporarily closed and the return of tourism has been fast, the market is expected to increase even further.
In fact, during the COVID-19 pandemic, many new visitors came to Riviera Maya Mexico due to the no travel restriction of the area. Many travelers could not travel to the there preferred destination and decided to try visiting Mexico instead and fall in love. Because of this, places in Riviera Maya such as Playa del Carmen are experiencing an increase in demand for real estate from these new travelers. It has injected more investment into the market and caused even more demand.
Finding Affordable Real Estate in Playa del Carmen Mexico
While the average price for a property in Playa del Carmen may be out of reach for some buyers, it is still possible to find affordable real estate in this popular destination. One option is to look for properties that are older properties on resale.
These properties can often be found at a lower price but will require some work to make them livable. Though you will still be hard-pressed to find these properties as Playa del Carmen real estate market is relatively young.
Another option is to look for properties that are located further from the beach or in less desirable neighborhoods. These properties will typically be priced lower than those located closer to the beach or in more desirable neighborhoods.
Find Affordable Properties in Playa del Carmen Mexico Today
One of the best ways to find a bargain in Playa del Carmen is to consult with our local real estate agent in Playa del Carmen. Our agents have a wealth of knowledge about the local real estate market and can help you find properties that fit your budget. Additionally, they can also assist you in negotiating a lower price for the property.
Click here to contact our real estate agents in Playa del Carmen Mexico at no obligation.
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