Hello,
Janaina Simon here, Chief International Real Estate Adviser with Smart Money Homes.
I’m writing to keep you updated on the construction of your new Paravian condo in the heart of Playa del Carmen.
You can look forward to regular communications like this, keeping you fully informed on the status of the project as it progresses to the planned delivery in Fall 2024.
I’d like to take this opportunity to remind you that the Smart Money Homes team and I are always available to answer any questions you may have.
Please send us any questions you might have. If we can’t answer it ourselves, we’ll get the answer from the developers. You can reach us here: info@smartmoneyhomes.com.
Your Paravian Construction Update
The construction team is building the 4th floor; and laying the travertine stones on the ground floor. Wall finishes are being applied on the second and third floor.
The construction team has now completed all hydraulic piping and electric works on floors 1-3.
The showroom is now finished and ready, allowing us to show buyers the type of high-quality finishes they can expect in their homes, and throughout Paravian.
I’ve included a video below showing the latest updates from the construction site.
Significant Price Uplift in Paravian
In June 2022, RETA members were given a chance to buy these superb Paravian condos.
Later, in January 2023, the developer made the condos available to retail. At the time of writing, studios, which RETA members like you had the opportunity to buy for $137,800, are listed for sale at $211,220. That’s an uplift of $73,400.
Retail prices in Paravian condos have been rising steadily
RETA members were also given the chance to buy one-bed condos from just $159,800 to $189,400, depending on the size of the condo, and the floor.
Right now, the lowest price you can find for a one-bed condo, on any floor, is $251,340. That’s an uplift of at least $61,940.
The Incredible Rental Potential for Your Paravian Condo
Image Source: iStock – Your Paravian condo is just a short walk from 5th Avenue and less than a 10 minute stroll from the beach.
I wanted to take a moment to remind you of why your Paravian condo is such a good investment and highlight three factors which really make it stand out.
Firstly, there’s the lifestyle aspect. Paravian condos are close to some of the best beaches in Mexico (more on that later) where you can enjoy sunshine and warm weather throughout the year.
Then, there’s the capital appreciation side of things. By the time you’re ready to sell it’s likely that your Paravian condo will have experienced a serious price uplift.
Not only are the condos of the highest quality, the Playa del Carmen real estate market is booming.
The latest numbers show that Playa del Carmen real estate experienced strong appreciation in the first quarter of 2023.
The Federal Mortgage Company (SHF) reported a rise in prices of 16.8% in the first quarter of 2023. That’s the 5th highest increase in real estate values anywhere in Mexico.
Finally, there’s the rental potential. I know from speaking to buyers like you, that many owners at Paravian are planning to use their condo to generate rental income.
Your Paravian condo will be in-demand from tourists looking to stay close to the beach in Playa del Carmen.
Image Source: iStock. Tourists from around the world visit Playa del Carmen each year and need somewhere to stay.
Each year, millions of tourists visit Playa del Carmen.
Many of these tourists are looking to find a place that can provide both luxury and convenience. They want quality amenities and a location close to the beach and Fifth Avenue.
However, there’s a shortage of this type of accommodation in Playa.
Condos such as yours in Paravian will cater to these tourists perfectly.
What’s more, Paravian condo owners can price their rentals slightly lower than the boutique hotels to bump up occupancy while still enjoying a healthy rental income.
To get an idea of the current market climate, take a look at the nightly prices (above) for some condos similar to Paravian.
These prices are great news for owners in Paravian planning to pitch their rentals to the same market.
Thanks to its prime location, close to the beach and the popular 5th Avenue, Paravian will be the perfect place for tourists looking to enjoy Playa del Carmen.
News From Around the Riviera Maya
Beach in Playa Del Carmen Named the Best in Mexico
Image Source: iStock – Punta Esmeralda, close to Paravian, has been named the best beach in Mexico
Punta Esmeralda, located in the northern half of Playa, just a 10 minute drive from Paravian, was voted the best beach in Mexico by the International Center for Training in Beach Management and Certification.
Punta Esmeralda was also named the third-best urban beach anywhere in Latin America, and the fourth best beach in the Caribbean.
The report took account of ease of access, quality of sand and water, and security, when it came up with its final rankings.
Punta Esmeralda has enjoyed Blue Flag designation since 2018 thanks to excellent environmental standards.
With no shortage of amazing beaches in Mexico, this isn’t an easy award to win. Awards like this are keeping Playa del Carmen well and truly on the radar of tourists both in Mexico and the rest of the world.
Day of the Dead Celebrations in Playa Del Carmen
Image Source: iStock – Playa del Carmen is the perfect place to enjoy the Day of the Dead festival
We’ve just enjoyed one of the biggest parties of the year in Playa del Carmen and Mexico.
Taking place each year on November 1st and 2nd, The Day of the Dead (“Dia de Muertos” in Spanish) is a traditional Mexican holiday celebrated throughout the country.
Celebrated in honor of family and friends who have died, it’s one of the most important festivals in the Mexican calendar.
People gather to share stories and reminiscences of loved ones who have passed on.
Family members build altars (ofrendas) honoring the dead and decorate them with sugar skulls, flowers, and photos. Special foods are made such as “pan de muerto” (bread of the dead). Tequila and mezcal are drunk long into the night.
In 2022, more than 50,000 visitors enjoyed the celebrations in Playa del Carmen and early reports suggest 2023 was even bigger.
Here are some of the ways people in the area have been celebrating.
The Festival of Life and Death Traditions at Xcaret
In Playa del Carmen, Mexico just after Day of the Dead a large skeloton statue with a sugar skull face and traditional clothing remains on display along 5th Avenue wearing a crown of flowers.
Running from October 30th until November 3rd, Xcaret Park hosted its own special Day of the Dead spectacular – the Festival of Life and Death Traditions.
Visitors could enjoy food and drink as well as taking part in various workshops. There was a chance to visit different altars and handicraft stalls as well as enjoying expositions, theater, dances, and gala concerts.
All this takes place within the unique scenery of the Xcaret theme park.
This is one of the most popular events in Playa del Carmen. The displays are always of the highest standard. If you want to go next year, be sure to book your tickets early.
The Catrina Parade on 5th Avenue
Image Source: iStock. Face Painting for the Catrina festival makes it easy to feel part of the proceedings
The Catrina parade on 5th Avenue is where many of the locals and tourists in 5th Avenue celebrated Day of the Dead.
There was music, dancing and bright costumes and the party went on long into the night.
The festival took place on November 1st beginning at 6pm and started at the Quintana Alegria Shopping Mall before winding along 5th Avenue.
5th Avenue also hosted Halloween evening on October 31st. This was one of the busiest nights of the year and the streets, restaurants and bars along 5th Avenue were packed out with gatherers enjoying a long night of costumes, music, and socializing.
Tren Maya on Track for Inauguration in December 2023
Construction on Tren Maya could be completed as soon as December 2023.
In more good news, construction on Tren Maya, which will connect the Riviera Maya with the surrounding areas, is approaching completion.
The most recent construction work has been connecting Izamal to Cancún. Known as Section 4, this part of the route covers 239 km across 9 municipalities and features 5 stations.
In a press conference on the 16th October 2023, the General Director of Tren Maya, Óscar David Lozano Águila, reported that all 239 km of track has been laid and electrical work installed.
He went on to state that the only remaining work is a general leveling of the tracks.
According to El Heraldo de México, Lozano Águila said 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.”
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.
That’s all from me, be sure to keep an eye out for my next letter which will be coming soon.
Once again, please don’t hesitate to contact me or my team here with any questions or comments you may have.
Yours Sincerely,
Janaina Simon
