Playa del Carmen Real Estate Value ? Downtown Repaving Project
Playa del Carmen Real Estate Value ? Downtown Repaving Project
One of the factors which has helped the value of Playa del Carmen real estate is the high quality of the urban infrastructure. Regardless of whether it is downtown or out in the new development areas, there are always signs of road improvements and other projects to make the city more beautiful and convenient.
The most recent example directly benefits downtown Playa del Carmen properties, which is mostly mid-sized condo developments. With a total investment of 18.5 billion pesos the Municipality began work on resurfacing on 7.5 kilometers of streets in the Downtown area, which covers the area ranging from 10th Avenue to 45th Avenue, between the two main access roads to the beach, Juarez and Constituyentes. This work will benefit about 30 000 inhabitants, and consists of four stages. Most of the condos where expats buy are located between 10th and 25th.
Since this work is in the area providing direct access to the main downtown beachfront, and the Fifth Avenue shopping, dining and nightlife area, this work will also benefit all residents of Playa del Carmen.
Similar work has recently been completed in the newer development areas off the beach, in addition to the completion of a new 4-lane divided road with a palm-lined median. In these same areas Playa del Carmen land has been seeing excellent appreciation, over 20% during the last year in some sections.
On the whole, Playa del Carmen’s municipal road building efforts have supported investors in various ways. The roadwork downtown makes it easier for condo buyers to rent out their units, since there is well kept-up access to the beach and the main tourist areas.
The work of building wide new access roads in new development areas, as well as paving and repaving existing roads, has been completed quickly, helping to bring quick increases both to land and completed homes.
For this same reason, investors can consider a variety of locations within Playa del Carmen to buy property, with confidence that municipal funds will be put to good use in providing access, beautifying the city, and, in general, providing the infrastructure which helps attract a resale market.
While the rapid growth of Playa del Carmen has sometimes got ahead of the road and infrastructure development, the municipality has been quick to address these areas. This fact brings a number of investment opportunities for those who can identify high potential new areas that are not yet appealing.
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