The Playa del Carmen real estate market has grown so quickly that it now encompasses several distinct areas or neighborhoods.
Viewed as a large grid, it can be broken down into 6 zones for real estate in Playa del Carmen, with the highway running north and south. If you live East of the highway you are closer to the oceanfront property and the tourist areas, but living to the West gives you more for your money, with larger and cheaper options for houses and condos in Playa del Carmen.
Here are the 6 Zones for the Playa del Carmen real estate market in detail:
1.) EAST-NORTH Zone: This Playa de Carmen real estate zone encompasses the oldest neighborhood of the city – Colosio. Here you will see that may of the old buildings are giving way to several new stylish, modern condos that are just off of the city’s famous Quinta Avenida (5th avenue). These places offer many amenities at very good prices. Homes in this neighborhood are also very affordable, and the cheapest in proximity to the beach. When you walk further south you hit CTM street, which has many condo developments that are clustered together in the area of the Cannibal Royal and Martina’s Beach clubs. These are very popular for Playa del Carmen real estate investments as vacation rentals, and construction continues on Playa del Carmen condo buildings.
2.) DOWNTOWN (EAST) Zone: This area has seen several new, modern condominium developments pop up in recent years from big names like GMB, offering up studio sized units starting at $99,000 and 1 bedrooms in the $200,000 range. If you like having a rooftop pool, gymnasiums, and private parking as amenities you will enjoy living here.. Most include a rental program for your real estate investments offering you a good ROI. If you want a Playa del Carmen condo on the beach you can expect to pay as much as $500,000.
In Phase 1 on the beach side are single family homes, with a few condominiums near the beachfront.
In Phase 2 you will also find family homes and affordable condominiums. These Playa del Carmen homes see a lot of long term rentals from locals and also vacation rentals
4.) WEST/SOUTH Zone: This Playa del Carmen real estate neighborhood is located on the opposite side of the highway, and faces the southern exit of Playacar. Newer housing developments include La Joya and the Bambu residencies, which sell family homes and lots for those who wish to design and build their own house. These homes can be purchased as lots or completed houses, and begin in the $100,000 range. This is where you will see the biggest growth in Playa due to being located in a vast, untouched jungle area.
5.) WEST CENTRE Zone: This area for real estate in Playa del Carmen is designated as the new downtown area and here you will find affordable prices, with housing developments that offer gated security and common areas with pools. It a great real estate investment which you can easily have rented out year-round. Los Olivos is a residential neighborhood with small houses that are very affordable for locals, with homes as low as $50,000 USD. These prices mean that they are very attractive as low cost rentals for working class residents. Real Ibiza has many townhouse complexes with good security and nice homes with a shared common areas and pools. The Playa del Carmen rental market appeals to families and professionals who earn a good income.
6.) WEST NORTH Zone: is the furthest away from the activity of downtown, so if you don´t mind the travel time to downtown or the beach you can find very affordable apartments and houses in small communities. Residential neighborhoods such as Velamar have small homes in gated areas, while on the very outskirts in La Guadalupa you find the best deals of all. Prices are low, but it is recommended that you have a car to get around due to how far you are from downtown.
Then in another 20 minutes you come to the just now starting to boom Tulum real estate market.
Do you want to know more about the Playa del Carmen real estate market?
Then please contact our Playa del Carmen buyer’s broker Alex Martinez.
Alex also gives a fantastic Mayan Riviera real estate tour to see real estate in Playa del Carmen, Playa Aventuras, Akumal, and Tulum. You can contact him here. And also read our guide about buying real estate in Mexico.