Papaya is a successful project in the south half of Playa del Carmen’s downtown and Papaya Plus is a new extension of this project offering even more comfort and luxury in this excellent location. Both projects offer a solid investment opportunity in an area of the Playa del Carmen real estate market which has just begun to see a transformation; both are very likely to see rising values.
To understand the significance of the location for these Playa del Carmen condos for sale, it is important to consider the history of the community. Up until the 90s, the south half of downtown was the entire town – a little more than fishing village on the beach. During the 2000’s when Playa del Carmen began its real estate boom, a large amount of development took place in what’s now the north half of downtown, comprising mostly of nice, modern condos, nice hotels and trendy shopping with a European flavor. At the same time, new communities sprouted up around the original town, giving these two central areas the role of downtown in the new city; it was Latin America’s fastest growing community for a few years during this period.
Up until very recently, the original town (the south half of downtown) kept its original working-class flavor, quite distinct from the upscale expat areas surrounding it. In the past year or two, however, new upscale boutique hotels have been opened, and nice condominium projects (like Papaya) have been replacing the modest one story homes. Papaya Plus shows promise as one of the first full luxury projects to appear in the area. Prices are very accessible, and everything else about the location and project points to high potential.
The following points are the highlights of the main reasons to invest in Papaya Plus:
· Excellent location – It is within walking distance to the beach (4 blocks) and to Fifth Avenue, downtown’s main pedestrian street with trendy shopping, international dining and vibrant nightlife (3 blocks.) On all sides, there are nice, upscale communities – Playacar, “Little Italy,” and Fifth Avenue and the beachfront.
· Walk-Everywhere Lifestyle – It is also an easy walk to Walmart (2 blocks), several other large supermarkets, and a large variety of small shops and restaurants.
· Pre-construction prices – Currently, because of preconstruction discounts, prices are starting at $235,000 USD. This price is very good considering the location and amenities (see below.)
· Security and Exclusivity – There are only 16 units, and full security is offered. Playa del Carmen is, on the whole, a very safe community as well.
· A Community & Family Lifestyle – Residents can enjoy “living like a family with friendly neighbors.” The developers live next door, offering a friendly connection for any needs. This kind of lifestyle is appealing for long-term rental or later resale.
· Retirement Friendly – Underground parking, elevators, and storages space make it easy for retirees to consider this development. The walk-everywhere lifestyle is also an appealing factor. Since the majority of buyers in Playa del Carmen are in the 55+ age group, this appeal is important for resale and rental.
Papaya Plus offers the following amenities which play an important factor in the value of the price:
· Swimming pool on the rooftop – While the beach is a short walk away, this convenience is also attractive.
· Gym & Wellness Center – This also helps to add appeal in the lifestyle factor.
· Underground parking – Parking underground means that residents will not have to worry about having the sun heat up their car or about looking for a parking spot on the street.
· Private storage
· Fully equipped kitchen – This includes full furnishings, and a water softener.
· Concierge 24 hrs.
· Accessible monthly fees – Especially for investors, this is a very important factor to ensure that maintenance expenses to not add up.
With the success of Papaya and Papaya Plus, investors can expect to see further transformation in this part of downtown, increasing demand, and a good probability of rising values.
TOPMexicoRealEstate.com; Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely
Thomas Lloyd, Founder and President of TOPMexicoRealestate.com
Originally from Indiana, and a graduate of Purdue University in the Krannert School of Management, he holds a degree in management with a speciality in finances. Lloyd has several diplomas and certifications in Mexico Real Estate topics and is one of only a few professionals to hold Mexico’s new degree in real estate. This degree is accompanied by a Professional Identification Number, "cedula profesional," which is issued for trained professionals such as those in the medical field, or in law. He has over 15 years of direct experience in Mexico’s business culture.