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Playa del Carmen Real Estate and the Affect from the U.S. Recession

Playa del Carmen Real EstateTodays business world and world economies have increased their relations between economies and markets throughout all countries in the world.  What occurs in China is felt in NYSE, and what occurs in the middle east is also seen on the economic indicators of Europe.  So naturally one would think, being that USA and Mexico are next door neighbors, the financial market and housing market conditions from the north should be reflected in Mexico's markets as well as the Playa del Carmen and Cancun real estate markets.

But, in the past 6 months, Mexico's financial markets have fared quite strongly to the storms that have been hitting the North American markets.  Not only Mexico, but the majority of Latin Americas markets have been pumping forward.  This is quite an interesting occurence.  The world economy is much greater intertwined than what it was 10 years ago.  Yet,  if a regional market is having a slowdown, should this not be felt throughout the world markets and especially here in Mexico as a stronger affect? ...

Please read the entire post at:

http://topmexicorealestate.com/blog/2008/03/30/playa-del-carmen-real-estate-and-the-affect-from-the-us-recession/

Posted Sunday, March 30, 2008 11:28 PM by Thomas Lloyd | 0 Comments

USA Presidential Speech and Relation to the Playa del Carmen Mexico Property Prices

Yesterday, President Bush gave a speech from New York addressing several issues of the US economy but mainly focused his address to the current Housing Market obstacles.  He reminded the audience that several projects are in place to assist Americans with mortgage payment difficultiens and defaults.   FHA secure for exmple along with Project Life Line which allows for 30 day extensions are a few of such programs to assist.

Along with this message, President Bush pointed out that the US economy has had various months of consecutive job growth and that exportations are experiencing continuous growth in the past year.  Overall though, these are Uncertain Times for many Americans in the housing industries for a few more months ahead...

To read the entire post, please click on the next link:

http://topmexicorealestate.com/blog/2008/03/15/usa-presidential-speech-and-relation-to-the-playa-del-carmen-mexico-property-prices/

Posted Saturday, March 15, 2008 10:51 AM by Thomas Lloyd | 0 Comments

Update in Downtown Tulum

Downtown TulumTulum real estate is being transformed in a very quick manner.   As has been the news for several months, a new international airport has been on the plans for this southern Mexican Caribbean tourist destination.   Updates on the Tulum Airport?  The Mexican federal government has many investments planned for the southern states of Mexico.  My old friends from Mexico City have chatted with me explaining that various federal government departments have been closely studying and copying the successful government economical development models from Chile and China over the past 5 years.  Nutshell of these succesful programs....“Invest into the infrastructure and the economies will benefit and flourish”.  See articles   TULUM AIRPORT AND THE FEDERAL GOVERNMENT  

How does this affect the Tulum real estate market?... 

To read the entire post, please click on the next link:

http://topmexicorealestate.com/blog/2008/02/04/update-in-downtown-tulum/

Posted Monday, February 04, 2008 9:13 AM by Thomas Lloyd | 1 Comments

Playa del Carmen Condo Regime

While working here in the Playa del Carmen real estate industry, we come across frequently asked questions by many of our buyers.

I thought a good subject to touch upon this week would be to hit on some of these subjects. Also, this past week, the Riviera Maya real estate organization of AMPI, which I am a member, held a short session to discuss the theme on Condominium Regimens here in Mexico.

In layman's terms, a Condominium Regime is basically dividing one main title of a building and land, into smaller, individual titles. Physically, the Playa del Carmen condos would all be individually measured, have their own individual independence (individual contracts) in regards to their electric, water, and basically all utility needs. A condo regimen will not only specify the private areas of the individual condos, but will also specify what areas and buildings are to be considered in the common areas. By laws are also part of this package which include the rules by which the condo owners must follow while living or enjoying the areas within the complex. The Mexico Real estate Federal law outlines the basic rules that must be included in these by laws, but the sky is the limit in regards to additional rules that the condo owners wish to include in such document...

To read the entire post, please click on the next link:

http://topmexicorealestate.com/blog/2008/01/25/playa-del-carmen-condo-regime/

Posted Friday, January 25, 2008 1:49 PM by Thomas Lloyd | 0 Comments

2008 Economy

Playa del Carmen real estate has been constant in its growth throughout the last quarter of 2007. As I speak with other realtors in the area, the overall opinion is that although the quantity of American Buyers has declined somewhat, the Canadian rush to Playa del Carmen and Tulum continues to surge.

There has been much attention focused on the US sub prime… obstacles, and much concern on how this would affect the demand here in the Playacar real estate, the Puerto Morelos real estate, Puerto Aventuras real estate and of course the Playa del Carmen real estate market. I believe that many of us realtors are still waiting for the spring season to progress further before formalizing our opinions. By this time, hopefully by the second half of the year, recovery as predicted by various economists from the US, of the housing market should be at the initial stages and consumer confidence back in a bearish mood.

Franklin Allen a Wharton professor, states that “the severity of the situation depends on which geographical regions are hit the hardest.” This is what many real estate analysts remind us in their reports and articles. Real Estate is a commodity that is not a nationally tracked commodity. What occurs in one region differs than results of another region, as are states and as are cities. Some states are affected to a greater extent than others such as California and the Florida markets each with various cities having a correction in prices that should level off by the spring of this year.

Again, how does this all affect Mexico real estate and the Playa del Carmen real estate or does this affect us at all? Yes, I expect it will have some decreases in the quantity of American buyers for the next couple of months. Buyers coming from the southern regions may decrease, but I also am seeing a strong quantity of interests from the Midwest upper regions, from Colorado, and New York New Jersey. I also have seen other factors that have increased the demand in other countries of the world in particular Canada and UK. With the decreasing exchange rate of the dollar, the pound and Canadian dollar have given much more strength to investors from these regions here in Playa del Carmen.

Last week, our office was battling to reserve a beautiful preconstruction condo in downtown Playa del Carmen off of the beach for over $500,000 usd. Our buyer was from New York, the other buyer from UK. Business as usual as the rush to invest in Playa del Carmen real estate continues, in January at least.

10 January, 2008

Thomas Lloyd
Posted Friday, January 11, 2008 3:41 PM by Thomas Lloyd | 0 Comments

Playa del Carmen Real Estate Booming

The Playa del Carmen real estate is one of the highest of demand here in the country of Mexico.  Many economical factors and general trends over the past two years throughout the North American and European economies are working to place the Mexican Caribbean real estate as one of the most attractive for investors throughout the world.  Near forty percent 40% of the Riviera Maya Properties are being purchased by Mexican Foreigners with the Americans and Canadians leading the countries with the highest amount of such international real estate investors. 

A very popular investment option has been the Mexico pre-construction condo options.  In this real estate opportunity, buyers are able to reserve a condo unit before the construction has been realized.  On some occasions, the developer may offer Mexican investment construction options “off the plan” before a parcel of land has even been purchased.  The risks are compensated with large discounted prices on the condo units which many international buyers have found extremely attractive given international averages on Ocean Front Condo prices.  The procedure normally requires a reservation quantity to be paid ranging from $5,000 up to $10,000 usd.   This money is refundable upon request and may reserve a unit for an average of 20 days, enough time for the investor and his legal counsel to study and analyze the promissory contract on the Playa del Carmen Real Estate.  If the buyer, upon review of the contract, decides to proceed on the investment opportunity, he will then be required to sign a promissory contract and forward another payment quantity.   This hard contract deposit may range from 20% up to 90% depending on the developer or the negotiation of the particular operation.   Other payments and payment plans may include monthly transfers or transfers based on construction milestones.   Once the property is completed, the developer can proceed on obtaining a Mexico Condominium Regimen, which will then allow for delivery of the physical property as well as transferring the legal rights to the Mexico property. 

International buyers are playing a significant role in the demands for Playa del Carmen real estate.  With the tourism and occupancy rates higher than years before, and projections stronger than any historical figures on record, the appreciation on Riviera Maya Real Estate continues to grow despite slowdowns in the United States market.  As more tourists come to the area, more fall in love with the local Caribbean Beaches, Mexican history, and the warm Spanish hospitality. 

  

Thomas Lloyd has been living and working in Mexico for near 15 years.  He is an American who is federally licensed to sell Mexico real estate

Lloyd's Real Estate

Posted Friday, January 11, 2008 3:32 PM by Thomas Lloyd | 0 Comments