subject: Playa del Carmen Condo Investment – New Developing Areas [print this page] When considering a Playa del Carmen condo investment, one of the best areas to consider are the new, up-and-coming developments; these can be found in a variety of areas. Here is one important tip to consider.
While the first thought that comes to mind for most people are the new gated communities out along the Riviera Maya the miles of upscale beachfront resorts stretching out in both directions from Playa del Carmen. One area that gets almost entirely overlooked, but holds some of the highest potential is just north of downtown, known as Coco Beach. Coco Beach, is in fact, within a short walking distance to where all the cafes and shops start on Fifth Avenue, the city's main downtown tourist street.
Currently, most visitors and visitors' guides consider it the end of the downtown beachfront area. Of course, the beachfront goes on, and is very wide and beautiful, but is somewhat abandoned. This same abandoned beachfront, however, is home to a large new hotel project, and several Playa del Carmen condo developments. When these finish, Coco Beach and the adjoining residential neighborhood, will be right between the new development and the original downtown area. Both are a short walk from Coco Beach, giving the community a very central location.
Shops on Fifth Avenue are already beginning to open directly in the Coco Beach neighborhood, with a new Italian pizza shop directly on the corner of the community's main beach access street. About 3 short blocks away, new plazas with nice cafes, upscale shops and interesting bars are just beginning to open.
While people tend to think of this as the end of downtown, it is very quickly developing into a trendy neighborhood with a character of its own. Young buyers have already begun buying and moving into new condos. The area is also ideal for vacationers, since it is a very short walk to the beach (some condos are directly on the beachfront) and also to the action of downtown, while still being a quiet, pleasant, safe and clean residential neighborhood.
A handful of large condos in the area could be excellent investments in terms of rental income for this reason. Because of the growing importance as a central location, condos in the area are also potentially good candidates for appreciation.
New gated communities are definitely worth consideration for condo investment, but Coco Beach should be overlooked.
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Playa del Carmen Condo Investment New Developing Areas
