While the Mexico condo market has been a very stable one, generally retaining values, and being quick to show positive appreciation after the recession, some motivated sellers have chosen to offer price reductions for quick sale. With the bulk of the recession-based reductions disappearing quickly, these reductions are a key opportunity for buyers.
Several Playa del Carmen condos – a market which has done well in offering return to investors – fall into this category. The following are two recent outstanding examples.
1. Downtown condo, 5th Avenue
$139,000 USD – Reduced from $175,000 USD
This condo is located a block from Fifth Avenue, the main street in Playa del Carmen with plenty of shops, restaurants and bars, and two blocks from the beachfront. With over 1000 square feet of space, it includes 2 bedrooms and 1 bathroom, and is a rustic, more traditionally Mexican looking building. The unit comes with furnishings and the condo complex includes a pool and lounge area. It is a very low price for the location, and has good potential rental income.
2. Playacar Oceanfront Condo
$425,000 USD – Reduced from $469,000 USD
This amazing 3 bedroom condo is located in Playacar, Phase I, Playa del Carmen's original gated, upscale beachfront community. The location is quiet, and it directly next to the beach, which was widened in early 2010. It is near the entrance, only a block or two away from Fifth Avenue and the dock from which the boat leaves for Cozumel. There is a pool, and a poolside bar (you don't have to leave the pool to enjoy it. ) There are 2 bathrooms and several luxury features such air conditioning in each room, and granite counters. Super potential for high vacation rental income, or excellent for a primary or vacation residence.
These are only 2 examples; watch the Playa del Carmen condo market and keep in touch with an experienced Mexico agent to help you find these kinds of deals in a thriving market.
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