What was once a fishing village and a port to Cozumel is now one of the most visited cities of Mexico. Playa del Carmen has in less than 30 years develop itself at a pretty impressive rate. It is the fastest-growing city in the world alongside Dubai. In this article, we will focus on the last decade, a period of major growth for the city and its real estate sector.

In 20 years, one sector that greatly develops is tourism. Playa del Carmen became in that period an international destination. It’s a city that attracts every type of visitor, from adventurers to retirees, with its relaxing environment (beaches, shops, spa), nightlife (bars, restaurants, clubs), and adventures (cenote, snorkeling, museum). 

The growth of Playa del Carmen is part of the development of the Mayan Riviera and Cancun tourism sector. In 2010, 3,372,687 tourists visited the Mayan Riviera, a number that has doubled in 2019, with 6,516,021 tourists registered (Dirección de Planeación y Desarrollo. Secretaría de Turismo del Estado de Quintana Roo). The Mayan Riviera, where Playa is located, is the favorite destination for Mexican travel. In 2017, the number of tourists was over 1.1 million. Playa del Carmen is the most visited city on the Mayan Riviera. Over the years, the rate of Occupancy has been between 80%-90% all years round, showing the success of this destination. 

Over the last 10 years, Like the whole Caribbean coast, the success of Playa del Carmen as a destination allows a major development of the real estate sector. The city is generating great income through the tourism industry. Also, the city went in 30 years from 1500 inhabitants to more than 300,000 today. Logically this has also contributed to the growth of real estate. Its market has grown more than 35% during the last 5 years (Ekasa Real Estate Developments, Kaua). Playa del Carmen became one of the cities with the best capital gain in Latin America, and the city with the best return on investment, up to 18% in the long term (Financial Times). 

In terms of geography, the parts of Playa del Carmen that developed at that time were after the Federal road. Playacar and the center were the most complete area, and the city start growing through the jungle. Areas like El Ejidal, Santa Fe, La Toscana, Real Ibiza, Los Olivos, or Selvanova gain value and are a good alternative for students, rental or Mexican citizens. The city also develops in the north, with the creation of resorts and private residentials like Corasol, creating a space for luxury in the real estate market. From the center, the 5th avenue grows with the city and its development. That street is 5.2 kilometers long today, but will in the future be extended to join the new areas, like Corasol.

As of today, Playa del Carmen has one of the most profitable real estate sectors in Mexico. It is a good choice for investment and projects. Playa del Carmen is still predicted by specialists to grow, even more, the development is not over.

What do think of Playa del Carmen? Of its growth? Are you interested in its real estate? Would you invest in Playa del Carmen’s real estate? Comment Below!