House with four bedrooms on the Caribbean coast of Mexico
USD 752,000 (MEXICAN PESOS 15.3 MILLION)
These are four bedrooms, four bathrooms House is located in the gated resort village of Playacar, in the city of Playa del Carmen, on the east coast of the Yucatan Peninsula in Mexico. Built in 2000 and gradually being modernized, the stone-cement home combines many local materials and architectural features, including palapa roofing made from dried palm leaves.
“This home is part of a prestigious community of about two dozen Playacar Phase II homes that has its own pool and tennis courts,” said Judy Shaw, owner / broker of Living Riviera Maya Real Estate, which is listed. “They also have their own path to the beach – there is a gate, and only these homeowners have the keys.”
The price for the 3,657-square-foot home, which has been a popular rental property, includes furniture, Ms Shaw said.
The main entrance, protected by a palapa awning, is at the front of the house, leading to a driveway with space for two cars. It opens onto a small foyer with a wooden staircase on the side. A few steps up is the main living area, an open, tiled space that integrates the kitchen and living area. The kitchen counters and bar are made from local quarry limestone.
The decorative stained glass used throughout the house lets in a lot of light and provides privacy from neighbors on either side. A corridor opposite the main entrance leads to a large wooden deck with a palapa-covered dining area and built-in benches. Below deck is a tiled patio with a bar. A staircase from the terrace leads to another covered terrace above. Decks overlook the public swimming pool.
Two bedrooms – one with two single beds and one with a queen-size bed – and two bathrooms are located on the sides of the hallway.
A staircase in the main foyer leads to the main suite with a striking vaulted ceiling painted in the color of the sky and illuminated by rising light. There are toilets against one wall and a built-in dressing table in the center. On the opposite wall, marble steps lead to a hot tub, framed by large stained glass windows. A separate shower room is located next to the bedroom.
Another bedroom on the second floor has its own bathroom and access to the street via a spiral staircase.
The Playacar community, in the southern part of Playa del Carmen, also has a golf course and many private beach clubs and beach hotels on the Yucatan Caribbean coast. Pedestrian-only Fifth Avenue with many shops, restaurants, bars and cafes is within walking distance. Xcaret Park, a popular water theme park and resort, is located a few miles south of the city. Cancun International Airport is approximately 45 minutes away.
Playa del Carmen in the municipality of Solidaridad in the state of Quintana Roo is one of the largest cities on the Mexican coast of the Mayan Riviera with a population of about 305,000. It is located between the resorts of Cancun and Tulum.
The city, primarily the secondary housing market, has seen a surge in demand from buyers seeking refuge from the pandemic, agents said.
“We have a history that we are traditionally a market for shoppers because there are just a lot of products – I mean there are a lot of sweets in the pastry shop,” said Ms Shaw. “But all of a sudden last year and early this year we had a lot of old stocks that were sold out. So that makes it more balanced. “
Nationally, the median home sale price rose 5.4% in the fourth quarter of 2020 compared to the fourth quarter of 2019 to 1.2 million pesos ($ 59,000), according to data from Mexico. Federal Mortgage Societytracking the value of home mortgages. (The country does not have a multiple listing service.) In Quintana Roo, home prices rose 7.5% in 2020, the fifth-largest increase among Mexico’s 32 states.
Shaw said her agency sold the same number of properties in the first six months of this year as it did in the first half of 2020, but the average selling price was higher at $ 435,500. (Many properties in Mexico, including this one, are sold for US dollars.)
Ivan Castillo, real estate attorney and general manager of Secure Title Riviera Maya, said that before the pandemic closed in early 2020, his company’s offices across Mexico were opening 40 to 45 files a month. The average is now closer to 100.
“We see a very fast growing real estate market,” said Mr. Castillo. “This is going crazy.”
Prices in Playa del Carmen start at $ 200,000 for a two-bedroom condominium further away from the beach, according to Jason Waller, owner of Playa Real Estate Group. Apartments closer to the beach typically sell for between $ 300,000 and $ 450,000, he said, while seaside homes now sell for over $ 1 million.
“We have a lot of clients from New York and a lot of people are looking for homes by the sea so they can enjoy life on the beach in the event of another quarantine, instead of being stuck in a condominium in the city and hating their family,” said Mr. Waller …
Compared to Cancun, Playa del Carmen is cheaper and more convenient for walking, he said, adding that “almost every street leads to the beach.”
Mr Castillo said he believed the purchase in Playa del Carmen was more profitable than in Tulum, 40 miles down the coast, where boom was growing “so erratic” that services such as water, electricity and Internet access are becoming more popular. tense.
US Department of State currently advises travelers in Quintana Roo to be extra cautious about crime.
Who buys in Playa del Carmen
The majority of foreign buyers in Playa del Carmen are from the United States (especially Texas and New York) and Canada, agents said.
Mr Waller said he is also seeing more buyers from France and the UK this year.
“We’ve really noticed an upturn in Europe this year,” he said. “We just hired a French speaking agent.”
Mr. Castillo said that most of his foreign clients are from Canada, and since the country has been closed for a long time, most of them are buying properties in preparation for construction. “I send them a power of attorney to sign so that I can represent them in relation to physical ownership and title, if necessary, on their behalf,” he said.
Foreign buyers buying within 50 kilometers (31 miles) of the coastline or within 100 kilometers (62 miles) of the country’s borders must buy through a Mexican bank trust or Mexican corporation, Mr. Castillo said. The lawyer must conduct a due diligence of the transaction. The notary public appointed by the state formalizes the transaction.
Mortgage financing in Mexico is not available to foreigners. Most of the transactions are in cash, Ms Shaw said.
The agent’s commission is usually 6 to 7 percent, which is paid by the seller on resale.
Languages and currencies
Spanish; Mexican peso (1 peso = 0.049 dollars)
Taxes and fees
According to Mr. Castillo, the transfer tax in Playa del Carmen is 3% of the purchase price. The total cost of closing, including the cost of setting up a trust, typically ranges from 4 to 7 percent.
The annual property taxes on this home are $ 375 and the Homeowners Association’s monthly dues are $ 140.