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New Development in Playa del Carmen

27 March 2009 2,568 views 3 Comments

By: Charles Sipe
A new real estate project, Grand Coral, aims to become the largest investment in the Mexican Caribbean with a planned 6,900 residences just 30 miles from Cancun. According to a press release by Grupo Grand Coral: "Located 30 minutes from the Cancun Airport and five minutes from popular coastal town Playa del Carmen, this $2.5 billion investment spans 561 oceanfront acres, contributing to the urban expansion of the region. Blending notable brands, resorts, a Nick Price golf course, entertainment and retail/restaurant, Grand Coral Riviera Maya will be a grand oasis. Neighboring downtown Playa del Carmen and its popular Fifth Avenue, the vibrant street lined with boutiques and restaurants actually continues into the project. Construction is estimated to take place over ten years and $700 million has been invested to date. Already underway is Mareazul which includes 300 luxury beachfront condominiums. The development will offer a fine selection of amenities including a spa, Botanical Zen garden with Mayan sculptures, beach club with private cabanas." Playa del Carmen has been growing extremely fast over the past 15 years according to Mexpat, an expatriate living in Playa del Carmen. It was the fastest growing global community in 2005 and 2006, according to an article in NuWire Investor. It has a higher cost of living than other towns in Mexico, but it is also well developed with good roads, reliable water, electricity and internet, and modern hospitals. It is located about 30 miles south of Cancun and is within driving distance of many of the top tourist attractions and activities such as Chichen Itza and Xcaret.  You can learn more about this development at www.grandcoralrivieramaya.com.mx.
Related Posts Young People Moving to Mexico: Interview with Mexpat from Playa del Carmen

3 Comments »

  • deh said:

    I am thinking about buying a condo on the north side of playa del carmen. I live in the US and would use the unit as a rental when I’m not there. I know how the market has changed in the states so I wonder if I should buy this property. Any Advice?

    # 29 March 2009 at 2:32 am
  • Charles Sipe said:

    Definitely do a lot of research before you make a decision. I would recommend talking to people living in Playa del Carmen like the author of The Mexico or Bust Blog http://mexico-or-bust.blogspot.com. Another good resource is Thomas Llyod at topmexicorealestate.com who is knowledgeable on the Quinta Roo region. The rental market seems to be down right now, but if you read this blog, we talk about a lot of the signs that suggest that there is a good opportunity for future growth in the Mexico beach front property market, such as the baby boomer trend, global tourism trends, etc. Good luck!

    # 31 March 2009 at 4:47 am
  • Playa del Carmen said:

    Definetly, Playa del Carmen show a fast growth.In the future will be a good place for Real Estate bussines.

    # 1 April 2009 at 4:32 pm

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