When choosing a property for your investment, you will need to consider a set of key factors determining the possibility for good return both from rental income and from property appreciation; while Playa del Carmen condos follow many of the rules generally associated with real estate investment, the following are some of the main points with specific information from Playa del Carmen.
Access to the Beach
A property doesn't have to be directly on the beachfront to be good for rentals, but make sure that the walk is short, and that there is an easy, clear, safe and visually appealing way available to the beach. On the other hand, some developments further from the beach are offering a shuttle service, which would win out over a long or unpleasant walk. Most downtown/central condos have easy and pleasant walking access – the majority of roads lead to the beach.
Size of the Property
Rental properties are often chosen by small groups (6-8 people) who can save money by renting a condo instead of paying a hotel or resort. They can cook their own meals, and live in the comfort of their own property. For this reason, a condo with 3 or 4 bedrooms is usually the best pick.
While there are usually bars, restaurants and beach clubs on the beach (e. g. Fifth Avenue which runs parallel to the beach downtown, ) it is also convenient if there are stores to buy food nearby, some restaurants, etc. for easy access when renters don't really want to “go out. "
Ask your agent to find some real numbers on rental history; if the current owners haven't attempted rental, or if the numbers don't look good, you may still be able to do much better. There are plenty of good rental agencies or property management companies. Check with some of them to see the going rates and success of condos in near the one you are considering. If the condo's complex has a rental program, investigate its success.
While the last 4 points dealt with rental income potential, the neighborhood in which your property is located will have a lot to do with how well the value of the property will increase, should you choose to resell in the future. While a Playa del Carmen condo right downtown may do best with rental income, one in an up-and-coming neighborhood could be less expensive to start, and could appreciate more once that neighborhood picks up. Examples are the Coco Beach neighborhood, just a short walk north of downtown, or the areas on the other side of the federal highway; some land in those areas has appreciated 44% over the last year.
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