With all that Playa has to offer, it is little wonder that many foreigners put this precious gem in the Mexican Caribbean on their vision board for retirement living. With a wide selection of properties that suit every taste and budget, investing in one of the hottest spots in the Mexican Caribbean, is a win-win. Essentially, buying property in Mexico has never been easier and frankly the timing couldn’t be better.
Popular destinationAccording to the Riviera Maya News, the state of Quintana Roo will see a population increase of 13 percent over the next five years and the municipality of Solidaridad (Playa del Carmen) will grow the most with an anticipated 22.29 percent population increase by 2023, bringing the total to 308,287 approximately 56,200 more than the current 2018 population count of 252,087.
The sheer number of developments to choose from however can create confusion and particularly what kind of property will ultimately give the best rate of return over the long term. In spite of some apprehension that may arise vis a vis pre-sale properties, did you know that investing in such developments in Playa del Carmen offers an opportunity to benefit from a significantly higher return on investment and at a much faster rate than buying a property after construction is completed? Making a decision to purchase pre-sale condos in Playa del Carmen is a great way to get incredible value and lock in high profits from rapid appreciation once the development is completed.
Here are the top 5 reasons to invest in pre-sale condos in Playa del Carmen:
1. Maximize Return on InvestmentFor many, the primary reason to invest in real estate is to maximize one’s return on investment and purchasing pre-sale is the best way to accomplish this. You may be asking, how is this possible? Well, this is essentially how it works: Over the course of the construction period, housing prices continue to rise and in turn, the value of the home itself increases. Thus, the potential to reap a profit is there before construction on the property is even complete. The key to making this work for you is to seek investment properties located in a strong real estate market, such as downtown Playa del Carmen. As the saying goes: “Location! Location!” and truthfully this bustling tourist town has added value that other places in the Mayan Riviera do not. Its solid infrastructure, nearby conveniences, fabulous eateries, nightlife and the list goes on, will add to the value of your property, making resell all that much easier if you so decide.
2. Opportunity for Price DiscountsAnother major reason it’s easier to maximize return on investment when you buy condos in Playa del Carmen in pre-sale is that major developers offer discounts on the sale price. This is as a result of the fact that most pre-sale investment properties are sold at a low base price without appreciation costs. By the time construction is complete, the base price has gone up substantially. Another important aspect to consider as with any smart real estate investment is to buy in a great location like downtown Playa del Carmen. Tourism is in constant increase, so it is a unique opportunity for rapid, sustainable growth.
3. CustomizationMany pre-sale real estate investment opportunities also offer buyers the chance to assume an active role in the property’s design. This could include choosing a floor plan, selecting finishes and furniture or even creating a lock off option which is ideal for maximizing profits. The best option in this regard are turnkey vacation rentals that offer easy access to a wide variety of services and amenities, as well as high-end finishes and luxury touches throughout the interior spaces. This is an opportunity for you ‘to build’ the house of your dreams without the hassle of seeking out the plot of land in order to do so. Buying a house in Mexico never sounded so good right?
4. Low Maintenance RequirementsAs you know, all investment properties require basic upkeep. Another major advantage of buying pre-sale real estate in Playa del Carmen is that you get to start off with a brand-new building. This means it is naturally going to require less maintenance than older properties. This benefit is multiplied when you opt to invest in a turnkey rental property with a professional management team who takes care of every aspect, from renting and maintaining, to paying utilities and other upkeep.
5. AffordabilityAnother advantage of pre-sale properties is that you can pay incrementally with a minimum of a 30 percent downpayment and the remaining 70 percent upon completion of the project. With a 50 and 80 percent down payment, you are also entitled to a discount which is another added bonus. This option evidently makes owning a property more tangible than having to come up with all of the funds at once.
By Leah T. Sakata