Real Estate Developments continue to soar in Playa del Carmen
Real estate interest in Playa del Carmen continues to expand as at least 15 developers wait for the green light from City Council. An end-of-year report by National Institute of Statistics, Geography and Informatics (INEGI) showed that Playa del Carmen has the highest annual rate of population growth in the state.
Statistics from the 2015 count conducted by INEGI show that the municipality of Solidarity has about 209,000 inhabitants with an annual growth rate of 6 percent; the highest increase compared with other municipalities in Quintana Roo.
According to Urban Development and Transportation, a majority of these developers are waiting for construction permits for new housing projects mostly in the western portion of the city.
Urban Development says that there are large farm areas around Playa del Carmen that could be perfect for new real estate developments. They say that many developers who have already become established with developments in the area want to continue with additional developments, particularly in the way of housing projects. Playa del Carmen has grown exponentially in both real estate and in labor supply making creating an ideal combination.
One large local housing project is set to build its fifth stage and when complete, will constitute nearly 14,000 houses.
Developments such as Mayakoba Lagunas is another example of an existing housing project that is adding a massive extension, wherein they intend to become their own Mayakoba City with schools, a hospital, shopping and greenspace. The Laugunas project is only one of many that are combining practicality and luxury into affordable housing.