Affordable Real Estate in Playa Del Carmen
We get asked about real estate and living in Playa Del Carmen all the time and the truth is, we love your questions. We love helping people learn about the area and see what is possible for places to live. On this site we have written many articles about real estate, where the market is now, things to look for when buying a property and other topics. Some of the staff here have gone through the process of buying in Playa Del Carmen and we have helped people relocate to Playa Del Carmen or invest in property here.
Like all the articles on the website, we try to provide helpful information to people based on experience here and research.
Disclaimer: We are not a real estate company. People do however like asking advice and we get a lot of positive feedback because we try to provide an independent viewpoint for your benefit based on our experience here in Playa Del Carmen.
We do give a lot of advice on the site but this is general advice. Something as personal as buying a house will require specific advice since everyone’s circumstances are different. For example a couple that wants a great house to live in but is not too concerned about selling it in a year or two is going to get different advice on where to look or what to buy then for example a someone that wants a great rental property. We therefore suggest that any questions or advice you are seeking, please feel free to contact us here. Just use the contact tab at the top of the page. We will try to get back to you soon with answers for you. We enjoy researching and sharing our things we find and learn with you.
We will in the future bring you more independent reviews of new buildings or places to buy. If you have any place you would like us to go and “tour” for a story, let us know and we will check it out for you and write our opinion about it.
Condos and houses under $100,000
We wanted to bring you an article about what is possible for under $100,oooUSD. This is important because, lets face it, not everyone has a couple hundred thousand dollars to throw around. Loans in Mexico are near impossible to attain and come with costly interest rates when you can get one. The fact is, most purchases by foreigners are done with cash in Mexico.
There are many people that want to move here but have limited funds to spend or once people find out what is possible to have here, they start thinking about having a place here part of the year instead of renting, maybe with the possibility of living here full time in the future.
If you have already looked into the idea of buying in Mexico you probably have come across many websites in English, prices in dollars and lots of beach scenes thrown in. This is where people first land online and the prices can put some people off of the idea of living the tropical Caribbean life. There are however options for an inexpensive place to live that you might not have found in your searching.
What is the lowest price you can own a new property for here?
There are condos (more frequently called apartments in Mexico) that start at $59,000 USD. That is about the cheapest you can enter the real estate market in Playa Del Carmen and get a decent place That seems pretty cheap to many people because in most places in the United States, Canada and Europe you cannot get anything for that amount or only something in a bad area that needs lots of work. So a newly constructed property sounds like a good deal to most people. Plus you are only a few minutes drive to the ocean and that appeals to people as well.
Note: There are some places that are even cheaper but these are just concrete boxes that would not be up to standards for most people so we are not going to talk about them.
What type of neighborhood are these?
Living beach front is certainly not possible at this price but you still can access the beach as well as all areas surrounding Playa Del Carmen. There are developments being built for the rapidly expanding middle class in Mexico. There are whole neighborhoods being built in Playa as the city expands. These neighborhoods are being bought by young Mexican professionals, Americans and Canadians that want a small piece of the real estate pie.
Unlike areas north of the border that offer these prices you will not be surrounded by people on welfare on unemployment. You will be in a areas with hard working people that make Playa run and experience more of “real” Mexico and not be surrounded by hoards of tourist. These neighborhoods are bought by many first time home buyers here in Mexico and people are excited to have their first home and take pride in homeownership.
What is the catch?
So with the low prices of $59,000-$79,000 for entry level homes and condos, what are the things you have to know about?
You cannot compare apples to apples, which means things in your home country and not the same as in Mexico or other countries for that matter. So there are things that are done differently between countries concerning real estate. Most new homes have good bones but they leave the finishing touches to you. This is good because you can make it however you like without having to redo the place.
The good thing about construction in Mexico is how durable it is. Most everything is concrete and tile. These are the bones of the structure. It is every easy to add to this type of construction. Adding beautiful decorative tile can totally change a bathroom or kitchen and last the lifetime of the home.
Some of the things not included in finishing touches are kitchen cabinets, light fixtures, decorative tile and closet shelves. These can all be added easily and the good thing in Mexico is the fact that labor is very inexpensive. Having someone install the new light fixtures you bought at the Home Depot store is not going to cost you as much as north of the border, the same goes with adding some nice tile to the bathroom or upgrading the sink.
The photos at the top of the article are what is very easily possible to do with the units. They do however come in a basic format.
Special neighborhood features
Most of these new developments come with private entrances and security. Common areas are all maintained and there are swimming pools for each section with an area for outdoor picnics or what ever you would like to do. For families with children there are play parks for kids. Small neighborhood shops and restaurants are near the entrances for convenience. You do have to be careful however to see what the development allows because not all developments are the same and some allow people to convert their first floor into a shop and the area starts to go downhill.
Some developers have replanted trees and shrubs to beatify the neighborhoods. Some even have greenhouses that stock plants to use.
Condo fees and only about $50 USD a month and real estate taxes are close to $100USD a year! So keeping one of these places in Playa Del Carmen is not going to cost you that much.
As the city grows, bus routes develop and public transportation comes nearby. This is already true in this area. Buses in Playa run from 5-7 pesos. So you can get downtown for roughly .35 cents.
Have these been a popular option?
With a certainty this option of a condo or townhome in a development has been popular. That is why there are so many here. For foreigners it is popular to those wanting an affordable place to call their own. However not all builders and developments are created equal. We have been to almost everyone of these new developments and standards of construction vary and this is often reflected in the amount of foreigners that buy in certain areas. We recommend people ask questions about the builders reputation before investing and seeing how many other foreigners have bought in an area because this can be indicative of how good the standards are to what people expect from where they are from.
Recommendations for affordable real estate
Buying in these developments is good for people wanting a low overhead and low cost entry into the market in Mexico. We only recommend certain developments because some of them do not have regulations on modifying the buildings and some of them go downhill. These places can be for rentals but it will be mixed between locals and longer term vacationers. It really is best if people have a car and rent there.
As far as buying for a return in the future on your investment, value tends rise slower since there are many units. Since most of these developments are new, it is still to be tested in the market as far as price appreciation but to have a place you like, it does not matter if you plan on living there or using it for now.
Do you have questions about real estate?
Need more information about Playa Del Carmen real estate? We have a large guide here with lots of helpful tips. If you have specific questions that you would like to ask, please feel free to write to us on our contact us tab. Since there are many different developments and you would like to know which ones we recommend and do not recommend, ask us that as well.
About The Author
My husband and I are researching the possibility of living in Playa Del Carmen 4-6 months of the year and interested in a condo that could be rented for this long. Would like beach view or close to the beach. If so, what can we expect to pay and where do we find these rentals for a lengthy stay?
We are planning a trip for this November to check out locations. Please advise us on someone to meet with to discuss this further. We do not speak spanish.
Thank you for your assistance, looking forward to hearing from you.
Hello Babra
We should note that November-April will be two of the highest season we have here in Playa Del Carmen. One is New Years and the other Easter or Semana Santa. Because of this many places only like to rent short term like nightly or weekly. This will make it harder and having a beach front or beach view will be pricey. You can expect to pay 1000-2000 month rent for something close to the beach. With so many rental agencies in Playa Del Carmen, we don’t know all of them to make a list of who is best. Most however will speak English so that is not a problem. One article we have which is a good starting point is our article on renting. https://everythingplayadelcarmen.com/everything-about-apartment-renting-in-playa-del-carmen/ This will give you a nice overview. If you are interested in these house and condo in this article you might try contacting American Realty and asking them about renting. Since you are interested in buying something they might be able to help you find something although they do not do many rentals.
When buying a condo or home in Playa del Carmen do they finance the purchase if so how much is required for down payment %. We will be in Playa del Carmen in January to June looking to rent a place.
Hello Gary
Most sales are cash. This means having the full amount ready. There are however options. Some will take a % down and then a % at closing or when your unit is finished. This is if you buy presale. Many however do not offer presale pricing because they sell fairly fast. Some developers will do some financing. We do suggest you look closely at the rates and details of any such deal. Another option is taking our a home equity loan from your home in the country you live in and using that money. All of this being said, it does come done to mainly a cash market.
I’m on mobile – do you have a list of condo areas for this price? I didn’t see it.
Hello Jeremy
Since we do not sell real estate we do not have a list of current properties. We wrote this article to give you an idea of what you can get for your money. It should be notes that this style of townhome/condos/house are much further back from the ocean and are in residential neighborhoods. These are planned communities. Many of these areas have neighborhood names like Los Olivos or Real Ibiza. By searching these names you can see some of these current listings. If you would like for us to put in touch with a real estate company that deals with American and Canadians for these types of homes, let us know.
We rented a property in Playa Del Carmen during 2016-2017 new year, Beach view, paid a lot of money, but the property was not as described; from water destructions ( not be able to take shower, bathroom, and cooking) on daily basis to quality of the place. It was supposed to be 4-star. Do we have any authority, US or Mexico, to complain to?
It is good to report places that are not up to standards to the website or place that you rented from. Websites like AirBnB or HomeAway will usually address problems. It is good however to do so when you are there. If it is a private owner and you rented from them, it can get complicated. You can have a lawyer look into their business license and there is an agency called Profeco which is the consumer protection agency in Mexico. However most people that rent out to other people might not have a license to do so. Because this was done outside of the law, the laws cannot protect you.
We don’t need a huge place and absolutely do not want to be on the beach. But my question is: do the condos and/or townhouse allow pets? We have two dogs and a cat.
We’re thinking about moving to Mexico permanently and applying for citizenship.
When you buy most anywhere, you are allowed whatever animals you want. There are very few restrictions on pets. Renting is another story as you might have read in our Apartment Renting Article.
The view of pets is pretty high in this part of Mexico and there is a considerable amount of money spent on pets. More and more people have pets here but of course there is still a problem with stray cats and dogs. Many charities work hard to solve this problem and care for animals.
Any nice/safe expat condo communities in playa del carmen within a ten minute walk to the beach? Would like a nice community pool and a good tennis facility nearby. 2 beds and 2 baths. Can spend $225,000.
Hello Bruce
There are limited opportunities within a 10 minute walk to the beach. Playacar is a nice community but you will be limited to condos in that price range. El Cielo on the north end of Playa Del Carmen is also an area you might want to focus on.
We are considering buying a house in the “Marsella” neighborhood. Do you have any experience with the quality of these homes?
Hello Alisa
These house are on the edge of Playa and a new development. These house would be on the lower end of the budget line. You would need a car to live here and will need to travel to the grocery stores. it is important to see what already finished parts look like. These house can look great new and in websites, but can go downhill after they become lived in. Compared to Los Olivos, most people like Los Olivos more and the average person has a little more income in Los Olivos.
Great article and great work on the site and videos! super helpful!! we’re Canadians and currently in the process purchasing a condo at Los Olivos. We’re exited and nervous about the process 😛 Would you happen to know anyone that has purchased a condo there? and if so.. Can you put us in contact with that person? 🙂 and if anyone is reading this and has experience purchasing a condo from Los Olivos please get in contact with me 🙂
Hello Denis
There are a lot of foreigners that live in Los Olivos and a few that own there. We don’t know of any personally to put you in contact with. Los Olivos is big and with different sections. It is one of the more popular developments to buy in because if offers good style at reasonable prices. We will say that if you are going through someone in their sales office, they might not have dealt with many foreigners and setting up a fidecomisco. If this is the case, you might want to hire someone just to help out with the process so it is all don’t correct. Just as antidotal evidence, we went on a tour to one of the developments (not los Olivos) and the sales rep was the guy who worked at the corner store on our street. We were surprised that someone that is selling a house or condo to someone is also the same guy who stacks coke for $15 USD a day in a store.
Thanks for your articles! Very useful information! We are considering houses from Real Amalfi. Do you have any experiences with them and how their reputation is? We are also interested in checking out houses in Playa Azul. What are your takes on Playa Azul? Is it a good place to live in?
Do you also have articles about real estate laywer in Playa? (who speaks English and have experiences dealing with foreigner purchasing in Playa)
Many thanks!!
Hello Dion
Sorry for the slow reply. We have been out on tours. As for Playa Azul, this is a more budget option. The houses are close together and not the best quality. If you have kids or like kids, this might be a budget family option. Personally it would not be my first choice in this budget. Some developments have small streets with separate security. You also have to look at what the other houses nearby look like and the conditions. It is good to visit on a Sunday when most people are home and just see what the sound levels are like. Real Amalfi is another more budget development. They have an average reputation in Playa. If you are looking at a model unit, ask to visit a real unit in a finished building. Many of these apartment buildings carry sound through the walls and the home models do not reflect the real feel of the place. Los Olivos is one similar budget option that is one of the most popular. Punta Estrella is also another one that is popular. We do not have a good recommendation for a real estate lawyer. If you have a good real estate agent and good notaria then most of the time you do not need to pay for an extra lawyer that is mostly duplicating the services of the other two.
Thank you! It’s great to know.
hola y felicitaciones por el trabajo que hacen y la pasion que meten en esta grande obra. Yo y mi esposa vivimos en europa y quisieramos comprar para inversion(rentar en unas partes del ano) y para pasar algunas semanas al ano en el fabuloso caribe mexicano estabamos interesados al Rasidencial Selvanova ultimas casas en preventa, como es esa zona? es una zona tranquila ? es peligrosa? es una zona de alta plusvalia? es recomendable invertir en este residencial y en esta zona?
Esa área es agradable. Es más para los lugareños y no para los turistas. Por lo tanto, probablemente alquilará a los lugareños. Necesitará un automóvil o transporte para moverse. El desarrollo no está en el centro y comprar e ir a la playa requiere un automóvil.
Muchas gracias… y la seguridad?? la zona es tranquila? como las casas son de alta calidad crees que la zona va a mantener ese standard?
me hicieron ver las reglas de condominio y son muy restrictivas osea parece que de parte de los constructores hay la voluntad de mantener alto el nivel… esta cerca del Cedraui pude se que la zona se desarrille siempre mas?? saben algo??
muchas gracias por sus respuesta pero es importante para nosotros sus opiniones antes de firmar….
El área es Dios porque es central. El área a su alrededor crecerá. Hay lotes vacíos para construir. La seguridad es buena. Es posible que desee leer nuestro artículo sobre seguridad para los residents: https://everythingplayadelcarmen.com/playa-del-carmen-crime/ La calidad es promedio No es lo mejor ni lo peor. Es bueno que restrinjan la apertura de empresas y la mantengan residencial. Las buenas restricciones mantienen el aspecto de la comunidad.
he tenido contacto con la GMB que esta construyendo condos en la zona centro de playa del carmen alguien tiene esperiencia con ellos?? los precios son altos pero hablan de un ROI de 8-13% alguien puede confirmar eso??
hablan de precios de mantenimiento un poco altos respecto a la media de playa pero son ellos mismos que se ocupan de la renta son buenos??
mil gracias a los que respondan….
GMB se construye en el centro de Playa Del Carmen. La mayoría de sus propiedades son para alquileres de vacaciones. Tienen un programa diferente al de otros desarrolladores para el ROI. Hemos investigado sobre ello y tendremos un artículo en el futuro. Conocemos a una buena persona con quien hablar sobre el ROI que trabaja en el negocio. Le enviaremos un correo electrónico con la información.
mil gracias!!
Al final creo que optaremos por residencial selvanova(pero la opcion casa no depa)me pudieran mandar info sobre buenos administradores, nos serviria una buena compagnia seria para rentar la casa en el condominio y que se ocupe de los gastos del mismo porque no vivremos en playa vendremos solo por temporadas y seria mejor una renta vacacional o larga estadia pero sirve alguien que se ocupe de eso!!
Mil gracias por sus respuestas por son de grande ayuda!!!
No conocemos ninguna buena compañía de gestión que trabaje en esa área. Dado que la mayoría de las personas que alquilarían en esa área serán locales, una empresa de gestión de publicidad y habla hispana será la mejor. Lo bueno de los bienes raíces en el centro de Playa del Carmen es que tiene muchas opciones para las empresas de manangement. Algunos edificios como propiedades de GMB ya lo tienen para ti. Las propiedades en el centro de Playa del Carmen (playa a la carretera y Juarez a CTM Avenue) son casi todas las rentas semanales y el ROI es mucho más alto.
Su inversión es más alta en una propiedad en el centro pero el rendimiento es más alto. Es más fácil de administrar también. Es por eso que la mayoría de las personas invierten en el centro. Para las personas que buscan vivir en Playa o ser ella durante parte del año y alquilar a largo plazo, esas personas compran fuera del centro.
My husband and I are renting for January and February in Paseo Los Olivos, a new housing development next to Los Olivos. We take Colectivos, taxis and walk everywhere. It is in a safe and quiet area with the usual construction noise in the distance. We are fortunate to have a well-furnished townhouse which works comfortably for two people. I recommend this area as an alternative to living in the downtown area, however having a car would be an advantage.
Hi, I’m a dual National, native to California. I was recently able to renew my Mexican Passport, obtained an IFE, CURP, a drivers license, and establish residency in Cancun. What would be the major benefits as a Mexican citizen in purchasing property, does it become easier? I’ve been visiting Playa for several years and spent a full month last year, but now would like to plan out moving into that region. Thank you.
Hello Rudy
The biggest advantage is not needed to set up a fidecomisco or bank trust. Mexicans don’t need to do this step nor pay an annual fee. It can put you in the advantage to buy, but of course Mexicans also are at an disadvantage if making pesos to buy something.
Is there any major groceries and stores in that area? Do they have bus services to downtown or Avenida 30?
Vivo en USA y queria invertir en un apartamento,casao condo de 2 habitaciones en playa del Carmen sin gastar mucho dinero. Me podrian orientar por favor?
Hi, I’m currently purchasing a home in Puerto Morelos for $64,000 with Selva Escondida development in a gated community. Please give me your thoughts. Also working on my dual citizenship and applying for my Visa.
This is a pretty standard fraccionamiento. It matters more if you like the area. You are within a short drive to Cancun, where you might be doing a bulk of your shopping. The big difference between Playa and Puerto Morelos is the options. Options for going out and more things to do.