Hi,
I’m Janaina Simon, writing to you with updates on the construction of your new condo in The Village, Corasol. Corasol is a spectacular master-planned and gated golf community on Mexico’s Caribbean coast.
I’ll continue to send you reports like this to ensure you’re up to date with all the latest developments as the Village moves towards the planned delivery date of September 2024.
Before we move onto the updates…
If you have any questions about The Village, the Smart Money Homes team and I are your point of contact. Please send any questions to us, and we’ll get the answer from the developer if we can’t answer it ourselves. You can reach us here: info@smartmoneyhomes.com.
The Latest Construction Update for Your Condo at The Village
Construction is back on schedule at The Village… and just look how close you are to the golf course.
Construction at The Village is back underway, after a delay due to a shortage of cement.
As you know, the Mexican government has been pouring money into the Riviera Maya, especially the infrastructure. And it’s this new infrastructure which is responsible for the delays…
Tren Maya and Tulum International Airport are government flagships and have been draining all available resources, including concrete.
Both are now close to completion, and concrete is once again available for other projects in the area, including The Village.
The construction team is back at work and engaged in installing the structural support columns.
The team is also intensifying their efforts to make up for lost time and are confident that a delivery date of September 2024 remains achievable.
Your Luxury Condo at The Village Looks Set to Benefit From a Huge Price Increase
The Village is just a 2-minute walk from the Nick Price designed golf course. The photo shows the already delivered Lumina condos which were not part of the RETA deal.
RETA members like yourself had the opportunity to purchase a two-bedroom, two-bathroom condo with 845-square-feet of interior space and 163-square-foot terrace for just $258,600. Or for $296,400 you could live a little higher, on the 6th floor.
RETA members were also given access to premium two-bed, two-bath garden condos. Each with a large 341-square-foot terrace connected to a 344-square-foot private garden area, all surrounded by lush landscaping.
The RETA-only price for these premium garden condos was just $348,500. Incredible value. Especially when you remember that the interior space is to be 1,003-square-feet.
RETA members bought other condos at different prices, depending on the floor and size of the terrace and all at a deep discount.
I can tell you from first-hand experience that you don’t find many homes or condos under $500,000 in a true beachfront community of this caliber on the Riviera Maya.
Condos in The Village are Already Seeing Higher Prices
I wanted to share some news about the incredible prices we’re seeing for 2-bed condos in The Village. These condos shown below are in a building called Lumina which is also in The Village and right next to your RETA condos.
Lumina condos were part of an earlier, separate offering from the developer and have already been completed.
While it’s important to remember that these aren’t exact comparisons, they can give an idea of the kind of prices you can hope for when your condo is completed.
The example below is the closest match to the 2-bed, 2-bath condo available to RETA members from $258,600. The retail listing for this condo is $384,237.95.
The closest comparison I could find for the premium garden condos is listed below. RETA members had the chance to buy these condos for just $348,500.
The price for the garden condo below, also in The Village, starts from $412,566.95
The Amazing Rental Potential of Your Condo in The Village
This photo shows the first stage of the Village which has been completed and looks stunning.
Playa del Carmen is a global tourist destination. It’s just 45 minutes’ drive from Cancun International Airport, which is the 10th busiest airport in the world, averaging over 500 flights per day. Many of the visitors who land in Cancun head to Playa del Carmen, which receives over 15 million visitors every year.
That’s a lot of tourists in need of accommodation.
Condos like yours, which will include high-quality amenities and an enviable location will be very attractive to these tourists.
Especially when they see what hotel rates are in Corasol per night.
Hotel prices in Corasol are often more than $1,000 per night
Impression Moxche by Secrets is charging $1,016 for a night for a one-bedroom private suite.
Your condo will have added appeal to another rental market too. The golf tourism market is becoming a major industry. According to Future Market Insights the golf tourism market size is set to be worth more than $23 billion dollars in 2023.
And your condo, set just a two-minute walk to the clubhouse on the Nick Price golf course, will be positioned to reap the rewards.
Rumors are circulating that Corasol could one day host a PGA event.
Speaking of the golf course, I was there last week, and it looks immaculate. There are rumors building that Corasol is pushing to host a PGA event which would be a huge achievement.
Check out the rental prices for Lumina at The Village below. These condos have already been delivered and will share amenities with your RETA condos.
The rental price starts from $362 for two nights, which is the minimum stay.
All good news for owners, who can anticipate a steady rental stream.
Playa del Carmen Real Estate Records Major Price Rise in 2023
Image Source: iStock. Playa del Carmen is a red-hot tourist destination, and the real estate market is also thriving.
Real estate values are rising across the Riviera Maya, and Playa del Carmen has seen the 5th highest real estate price increase anywhere in Mexico.
The Federal Mortgage Company (SHF) has reported that real estate values in Playa del Carmen rose by 16.8% compared with the same period in 2022.
This reflects what we see every day in Playa del Carmen. If you bought at The Village with an eye on capital appreciation, you’ll be pleased to know that the real estate market here remains strong.
In further good news, the SHF noted that Mexico’s GDP, which is one of the main drivers behind a thriving real estate market, grew 3.9% in real terms during the first quarter of 2023.
Tren Maya on Track for Inauguration in December 2023
Tren Maya will make it easy for tourists to really explore the whole region, including the numerous Mayan ruins.
Construction work on Tren Maya is finally approaching completion. Recently, the General Director of Tren Maya, Óscar David Lozano Águila, gave a press conference where he stated that all 239 km of track has been laid and electrical work installed.
According to Mr. Lozano Águila, the only remaining work is a general leveling of the tracks.
The Mexican newspaper El Heraldo de México, reported Lozano Águila as saying that the complementary works of this section are already in operation.
“Of the planned 35 vehicle crossings and bridges, 33 are now complete. 90 of the 92 underpasses and wildlife crossings are also finished. Regarding the electrical infrastructure, 6,585 of the 9,000 required poles have been placed.”
It’s worth mentioning that skepticism remains about just when Tren Maya will open. The official line is that it will be operational before the end of 2023, but don’t be surprised if this gets pushed back into Q1 or even Q2 next year.
Image Source: iStock. Exploring Mayan ruins like Chichen Itza will soon be much easier thanks to Tren Maya.
Tren Maya will provide a convenient way for tourists to get from the airport to the Riviera Maya as well as opening up the rest of the region, providing easy access to Mayan ruins like Chichen Itza, nature reserves, Lake Bacalar, and other attractions.
A Reminder of the Superb Amenities That Village Owners Will Have Access to
The driving range in front of the clubhouse is now open.
When you stay at The Village, you’ll be able to enjoy luxury-resort level amenities and 5-star service.
The planned amenities include:
- Multiple swimming pools
- A rooftop hot tub with views of the Caribbean
- Fitness centers
- Yoga areas
- An outdoor cinema
- Mini golf
- Organic gardens
- A pet park
- Childrens play area
There’s also the 18-hole Nick Price golf course. If you love golf, you’re sure to appreciate what my golf-loving friends have told me is a spectacular course.
And even if you’re not a golf fan, you can look forward to the rental checks that will be arriving from golf fanatics looking to stay at your condo in The Village.
You can find gourmet dining options within Corasol. You don’t have to leave for a good meal, but if you want to, there’s no shortage of great food to be found in Playa del Carmen.
Another bonus is that owners in The Village get access to a secluded, rarely visited beach.
The beach club, set on the white-sand Caribbean beach, will be truly special.
I can confirm that the developer is planning to install loungers, tables, umbrellas, hammocks, and everything you could need for a day at the beach.
There will also be bathrooms, changing rooms, and storage areas so there’s no need to bring your beach gear from your condo.
The Village will have a concierge who can make dinner reservations for you, book tours, arrange transportation to the airport, get groceries delivered prior to your arrival, and more.
The amenities and services will provide you with a truly 5-star experience.
That’s all for now. I’ll write again soon with another update to let you know the latest from The Village and Playa del Carmen.
I’d like to remind you once again that the Smart Money Homes team and I are always here to assist you.
Please contact us with any questions you may have, we’ll be happy to help you however we can.
Yours sincerely,
Janaina Simon
Chief Real Estate Adviser with Smart Money Homes
P.S. In the coming months, my team and I will be launching our new social media channels providing content to help buyers like yourself make the most out of your Riviera Maya experience. We’ll look at the best restaurants, bars, beaches, tourist attractions along the Riviera Maya as well as covering FAQs and keeping you updated on the status of your homes.
I’ll be sure to drop you a line and let you know where and when they’re launching.
