Playa del Carmen Real Estate Booming
The
Playa del Carmen real estate
is one of the highest of demand here in the country of Mexico. Many economical
factors and general trends over the past two years throughout the North American
and European economies are working to place the Mexican Caribbean real estate as
one of the most attractive for investors throughout the world. Near forty
percent 40% of the Riviera Maya Properties are being purchased by Mexican
Foreigners with the Americans and Canadians leading the countries with the
highest amount of such international real estate investors.
A very popular
investment option has been the Mexico pre-construction condo options. In this
real estate opportunity, buyers are able to reserve a condo unit before the
construction has been realized. On some occasions, the developer may offer
Mexican investment construction options “off the plan” before a parcel of land
has even been purchased. The risks are compensated with large discounted prices
on the condo units which many international buyers have found extremely
attractive given international averages on Ocean Front Condo prices. The
procedure normally requires a reservation quantity to be paid ranging from
$5,000 up to $10,000 usd. This money is refundable upon request and may reserve
a unit for an average of 20 days, enough time for the investor and his legal
counsel to study and analyze the promissory contract on the Playa del Carmen
Real Estate. If the buyer, upon review of the contract, decides to proceed on
the investment opportunity, he will then be required to sign a promissory
contract and forward another payment quantity. This hard contract deposit may
range from 20% up to 90% depending on the developer or the negotiation of the
particular operation. Other payments and payment plans may include monthly
transfers or transfers based on construction milestones. Once the property is
completed, the developer can proceed on obtaining a Mexico Condominium Regimen,
which will then allow for delivery of the physical property as well as
transferring the legal rights to the Mexico property.
International buyers
are playing a significant role in the demands for Playa del Carmen real estate.
With the tourism and occupancy rates higher than years before, and projections
stronger than any historical figures on record, the appreciation on Riviera Maya
Real Estate continues to grow despite slowdowns in the United States market. As
more tourists come to the area, more fall in love with the local Caribbean
Beaches, Mexican history, and the warm Spanish hospitality.
Published by
Lloyd’s Real Estate –
Thomas Lloyd has been living and working
in Mexico for near 15 years. He is an American who is federally licensed to sell
Mexico real estate
Date: 07 February 2008, Thursday
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