Playa del Carmen real estate prices drop up to 10%

13/07/2020

Real estate prices in the Playa del Carmen have registered a 10% drop in recent months, as a result of the lower cost of the destination due to the health contingency of the coronavirus.

Playa del Carmen real estate prices drop up to 10%
Playa del Carmen real estate prices drop up to 10%

The drop occurs on more than 5,000 units of various prices, from houses of social interest to large properties. A slight decrease and perhaps an increase in payment facilities (...) approximately a 10% decrease.

It is a good time to buy a property and, certainly, say yes.

On the other hand, the Riviera Maya is benefited by a decrease in the interests of the mortgage loans granted by the banks, which went from approximately 9% to about 7%; also, there are greater payment facilities for the loans.

It should be remembered that before the coronavirus contingency, Playa del Carmen was experiencing a kind of real estate "boom" in areas where until now there was no construction to a segment of medium and high purchasing power, as in the colony Luis Donaldo Colosio Murrieta and Ejidal.

However, despite the decline in economic perception, in some parts of Playa del Carmen, construction continues. Real estate prices range from 500 thousand USD to costs that exceed millions of dollars.

There will be a recovery for next year in several sectors and as such real estate will also have positive numbers. It is a good time to invest in real estate in the Riviera Maya due to this situation, which is considered normal in the face of economic phenomena of this type.

By Mexicanist, with information from Novedades Quintana Roo