Buy Condo Playa Del Carmen
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Q: How much are condo fees in Playa del CarmenA: Condo fees vary depending on the services and amenities offered in your building. That being said, when comparing to HOA/condo fees in the USA or Canada they are considerably lower. On average you can expect to pay between $2-$3 USD/m2.
Our featured Riviera Maya villas and condos for sale are a sampling of the best homes available that represent good value in today's market and a strong ROI in the future. Whether you are looking for a retirement home or a unit with great vacation rental income potential, browse through our listings or use our Playa del Carmen Real Estate Search to receive up to the minute market notifications about listings that best fit your needs.
What do you want to buy You have many options in Playa Del Carmen. There are beach front condos, new house developments, older homes, town houses, and land. Most people are looking to buy condos or a new home that is further back from the beach in a new community. Here are some considerations to think about.
Thank you for the unbiased information you are putting out there. We plan a trip in Feb 2018 to begin looking for a condo to purchase for retirement from the US. I would love to get a couple of names of some trustworthy, experienced and hardworking realtors in the area. Thank you.
We will send you an email and ask some questions about what you are looking for so we can recommend the best people for you in real estate. Some agents are good for lower end properties that are further back from the beach, some people are looking for condos and some are looking for places outside of Playa. Talk to you soon.
Hello,Thank you for the great website & articles.I am looking for an investment condo with $200K budget. I have already been talking with 2 different realtors, but i would like to get your recommendations for realtors, lawyer, developers (i am looking at GMB & Elrod Desarrollos) and most of all property management. PM seems really expensive and could kill the investment angle. thank you.
We are going to Playacar in Feb. 2018 and would like to find a realtor who can show us condos up to 300000.00. We want to move permanent around end of 2018 or beginning of 2019 depending on sale of our house here and getting our visas. Could you recommend someone who knows that we will not buy right away but is still willing to show us some properties
I saw some condos on 5th just above CTM Avenue. What is going on in that area I see a lot of places going up but I still see the area with poor areas. I am not sure if I want to invest there. What are your thoughts of the area Can you send me an email with your thoughts Thanks
I am looking to invest in some condos in Playa Del Carmen. I want to get three in one building and use them to rent. Can you refer me to a good realtor in the area please I need someone that speaks English and can help me set them up. I am looking for a full service realtor since I do not have a lot of time to look around and be there. Thank you.
We are coming in January and want to look at some condos. We would like to look at things close to 5th Avenue and in a very rentable location. Can you please email us some realtors that you think would be good to deal with. We are fluent in Spanish and English so language is not a problem. Thank you
Hi, we are looking for an investment condo in downtown Playa to use a few weeks a year and rent it out the balance of the year. Could you please recommend a few realtors that are knowledgeable about the rental market and perhaps a recommendation for a few rental companiesThank you,
Hello, I am interested in buying a condo in Downtown PDC to be able to rent it out and use as needed. I would like to get the best realtor you can recommend, along with any lawyers, and Notarios. Please contact me with any information and thank you for the article.
I am looking to purchase a condo in the area one or 2 bed at a reasonable price. I would like to compare both new developments and existing units available for sale. Will be traveling there in a few months to hopefully check some out! Any help you can offer is appreciated
Hello I have been reading all your information on real estate and Playa del Carmen. I am looking to invest in a possibel condo project and want to buy land for it. I would like to get your thoughts on: 1. Good realtors about land. 2. Areas that I might look at. 3. and any mistakes or things people have done well before when starting a big project. Thank you in advance.
We are not sure which property you are referring to since there are several with that name. Regarding your question, there usually is a suggested ROI but often is not in writing as a guarantee. A good article to read is this one on ROI -playa-del-carmen/ Also some of our recommended realtors are good to honestly give you feedback on returns and areas to invest.
We have this article on good recommended agents to work with. They would be in a better position to recommend an atterney and notaria to work with. Most notarias are good to work with, some just offer better service in English and can move a little more rapidly. -estate-agents-playa-del-carmen/
Since many people are looking for an investment property, or something they can rent and then use part of the year or eventually move into at the time of retirement, newer condos work best. This is mainly because the newer look and features appeal to people on vacations. Condos built 10 years ago are different than those built now. For people that want to live in their condo, buying an older unit can get you more sq. meters.
As far as agents not wanting to show other exclusive listings, well they do have a 3% less commission on those if they split it with the listing agent. For this reason it is good to have a good real estate agent that is working for you and it is clear that you are interested on possibly some older condos.
At Moskito Real Estate we have access to houses for sale in Playa del Carmen, condos for sale Playa del Carmen, and many other real estate opportunities in Riviera Maya, and we are there with you through every step of the buying or selling process.
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There is no doubt that Playa Del Carmen is growing and there is a lot of investment coming to the city (see our gallery of new buildings and condos in Playa Del Carmen). There is also a greater awareness of where Playa Del Carmen is on the map and tourism remains strong. This has driven up rents and demand for accommodations in Playa Del Carmen. This means if you are looking to rent you might be paying more for the nice place you see online. Buying something secures a place for you and if you are going to be living here, it gives you a guaranteed place that you like staying in.
Real estate is part passion, meaning you like somewhere because you just like it and the other part is investment. Investment is the voice of reason that tells you to look at the numbers and see if it makes sense. While we cannot get into your head about passion and what you might fall in love with in a condo, we can talk numbers. So lets do some quasi easy math to see how the numbers look.
Lets say a condo is 150,000 USD. Closing cost and the cost of setting of a fidecomisco (trust for foreigners buying property in Mexico in the restricted zone) is about 5%. So at closing you have to pay 157,500 USD. Lets say you keep this condo for two years. Annual real estate taxes in Mexico are very low, how low For a condo worth about 150,000 USD your taxes will be about $150 USD a year! The yearly fee on your fidecomisco is about $600 USD. The first year you paid this in your closing cost so you only have this the second year. The other expense you will have owning a condo is maintenance fees. This will average around 80 USD a month. So at the end of two years you will have spent:
Most condos purchased today do maintain their value and do rise slightly in two years. If we look at current averages (and this will be highly controversial) you should be able to sell a condo you bought for 150,000 for around 155,000-165,000 USD. Lets cut it down the middle at 160,000 USD. Most closing cost are paid for by the seller so the only deduction is the commission to the real estate agent and the taxes. Commissions usually are 6-7% in Quintana Roo, the state we live in. Lets say you pay a commission of 6% or 9600 USD.
So there is a savings of 12,730 USD when you buy a condo vs. renting for two years. This now can get highly mathematical because in theory you can invest your money while renting and you have to think about the profit you will get in a two years time. If you get a decent return of about 2-3% for two years on a portion of your 150,000 USD we are talking about 5000-7000 USD. If your investments paid off in this way, you would still come away from owning a condo in Playa with about 2000-3000 USD ahead of renting according to expenses. 59ce067264