If you are considering that buying an apartment in Playa del Carmen is a good idea, then you’ll have to know that you are absolutely right! Playa del Carmen’s popularity among tourists has increased during recent years.
This beautiful place has something for everyone, and buying an apartment here is a great investment that gives you many options:
- You can buy to offer as a vacation rental for all the tourists and let it paid itself
- You can enjoy it during some seasons
- You can save it for your retirement
- Or an amazing combo: Enjoy it whenever you want, offer it to tourists and make money from it while you’re away.
Picking the best apartment to fulfill your goals depends entirely on what those goals you’re looking for, but there are always some aspects you have to take into consideration
1. Buy in the best locations in Playa del Carmen
Location is key for any Real Estate investment. Some may say there are not bad places to invest, but if the zone isn’t growing properly, and the future doesn’t grant your property a good added value, then you won’t be gaining anything and you can even lose money.
If you are thinking on doing business or investing in Playa del Carmen, you’ll find it easier to reach tourists and travelers if your apartment is in a good place.
- Playa del Carmen’s downtown is currently the most concurred spot in the city, and all services, restaurants, attractions, etc. are within the Quinta Avenida. Investing in condos, hotels or traditional vacation rentals near this 4 mile-long avenue is a good choice if you wish to enjoy the most of Playa.
- Investing near the beach is also a great idea, especially since this Caribbean beaches are the reason millions of people visit Mexico every year.
2. Invest with a trusted developer and work with professionals
You have to take into consideration that the Real Estate market is attractive for many, but only some have the expertise to guarantee a certain ROI. Or enough experience to detect zones with high growth potential.
Look for developers with a trusted network of both workers and clients, talk to the people who have bought from them and ask everything you need to know:
- Are they trustworthy?
- Have they ever had trouble delivering properties on time?
- Any legal abnormalities the clients had to solve for them?
- Is the property worth the price? Is it a real investment?
Make sure your broker or Real Estate Agent is legally registered with the PROFECO, and don’t be afraid of investigating. Information is key!
3. Analyze the price
Picking the right apartment has a lot to do with price, and numbers often are confusing. Sometimes new buildings with really low prices are a great deal, but if they’re in bad locations or have legal problems, the cost may increase for you in the future (as you don’t get the ROI you expected, or you could end up paying fees to organize the legal state of your property).
We recommend you to:
- Seek an expert’s opinion,
- Ask around town to know the general prices of apartments.
- Balance the costs and the benefits, is it worth paying less for a luxury flat far away from the city main avenue?
- Is it worth investing a little more in a less luxurious condo with a great location by the beach?
Your goals will tell!
4. Pay attention to the state of the building and the amenities that offers you
Apartments a, as the name says, part of another building. While this grants you and your guests access to many extras, it also means you have to pay a close look at the quality of finishes and materials of your own property, the general state of the building and the amenities that offers you, such as
- Private pools.
- Green areas and gardens.
- Hammocks area
- And even spas and gyms.
Also, you’ll get the chance to choose between a lot of developments, both new, ongoing construction, or quite old. While new apartment buildings don’t often have the privileged location older ones do, there are a lot of amazing condos that have state-of-the-art materials, good locations, and great prices. These are the ones you must hunt!
Picking the right apartment is a serious task, but it’s also a truly rewarding one. Either if you are thinking of purchasing as your own property to enjoy, or if you’re thinking of investing in a vacation rental, you have to pay attention to details. Information is your greatest tool!