The Recession Offers New Opportunities In Playa Del Carmen Real Estate

By Author: Thomas Lloyd
Total Articles: 503
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During the current recession, buyers investigating Playa del Carmen real estate may wonder if now is the right time to invest; what effect has the recession had on the market, and what will the future of the market be like? The TOPMexicoRealEstate NETWORK, Mexico's Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely, is here to help answer these and similar questions. The following information will show us that the market in Playa has been impacted; however, the effects of the recession also open up some unique opportunities, making this an ideal time to buy real estate in Playa del Carmen.
Playa del Carmen's market has, just as the rest of Mexico, and the world, felt the impact of the U.S. recession. The U.S. recession, starting two years ago with the housing crisis, has grown, and because of the dependence of a market like Playa's on the American economy, the effect has trickled down little by little, and has had a slow but significant impact.
The effect of the recession on this market can be seen in specific numbers. Ivan Castillo, from Stewart Title, has noted the following ...
... changes; the number of sales is about 30% lower than last year, and prices are about 15 to 20% lower; furthermore, in some cases purchase prices are in Pesos rather than USD, likewise showing a shift toward lower prices, for investors wishing to take advantage of high exchange rates.
What does this mean for Playa del Carmen real estate? The answer: opportunity. Castillo notes that the market is starting to come back again; in fact, it actually never stopped completely. The current price situation has brought about creativity in sales possibilities, not to mention some specific opportunities. One example of how developers are offering innovative solutions is that their products can have a fractional component now, allowing several buyers to buy one condo unit, for example. This means that, besides keeping the market going, the developers are giving new opportunities to smaller investors.
Castillo offers another example of new opportunity, namely for people who are retired or about to retire. During the last 18 months, many retirees have lost 20 - 30% of their funds. The continued benefit of a considerably less expensive lifestyle, which still has complete, modern infrastructure and all services (health care, etc.), not to mention an very rich culture, with something for everyone, makes Playa del Carmen retirement an ideal choice.
For anyone concerned about Playa's tourist industry, this is likewise showing signs of being back on the rise, quickly and solidly. The impact of the swine flu was sudden and drastic; but rising occupancy numbers in hotels, backed by very large government investment in publicity (national and international) show that tourist numbers will quickly be back to normal. Buyers can rest assured that this key element in Playa's economy will remain strong.
What does all this mean? Now is actually an ideal time to buy Playa del Carmen real estate. New opportunities are available, both in terms of what's being offered, and of buyers' necessities. In a market that continues to show stability and offers an excellent infrastructure and services, a time where prices are temporarily lower is the perfect opportunity. With the guidance of TOPMexicoRealEstate agents, a buyer can find the facts needed to make a solid investment. Visit our TOPMexicoRealEstate NETWORK; we are certified professionals that specialize in guiding new buyers through the Mexican purchasing process.