Cancun
Real Estate is considered one of the best real estate investments
in the world.
Prices continue to rise annually at about a 5% rate. In some
areas land has gone up 200-400% in the last couple years.
Most people want beachfront property. While there are several
new projects in the works the starting prices for new condominiums
are around $300,000 USD. The used market offers unusual values.
It is still possible to find Cancun studio beachfront condominiums
starting below $89,000 USD.
So what does $89,000 buy you in Cancun? A typical Cancun beachfront
studio is approximately 400-500 square feet (enough room for
2 queen beds, a small dining table, kitchenette and bathroom.
You also get something that is priceless a balcony overlooking
one of the best beaches in the world. The main stretch of
beach is over 10 miles long. A one bedroom unit can be from
$70,000 to $140,000 and a 2-bedroom unit typically costs from
$140,000 to $225,000. These are use prices in quality condominiums
that have amenities like swimming pool and most have a resort
atmosphere.
There
are many Cancun and Playa condominiums in excess of $400,000
USD. with loft sold for $85,000.
Real savings are in the operation or overhead of the property,
taxes and maintenance fees. Maintenance fees are also about
1/2 of similar fees in the US and taxes are about 1/4 the
cost of US property taxes.
Generally
you save 35 to 45 percent when buying a condominium or townhouse
on a golf course or lagoon compared to a beachfront property.
