With the Fed raising interest rates in the midst of ongoing economic uncertainty Stateside, many investors are looking abroad for new real estate opportunities. With this in mind, The Real Deal caught up with Karina Sayed, founder of the Riviera Maya-based Playa Realtors, who made the case for Southern Mexico as both a great place to visit and invest. Best known for its Mayan Heritage and sophistication, this stretch of the Caribbean coastline is home to sandy beaches, dramatic landscapes, warm ocean waters, and a host of vacation destinations replete with high-end dining, shopping, and recreation. So head south with us as we learn more about this dreamy destination.
Introducing Playa Realtors
Sayed moved from her native Argentina to Playa del Carmen 23 years ago. She was trained as a CPA and took her first step into the real estate world as a property manager before branching out into selling property both as investments and vacation homes. Now, with fifteen years of real estate experience in the Riviera Maya region, Sayed leads a team of agents under the Playa Realtors umbrella, facilitating purchases by clients from around the world. “We have agents who speak German, French, Italian, Portuguese, Russian, and of course Spanish and English,” says Sayed.
“Speaking French has become more important recently because a lot of people are coming from Canada.” Playa Realtors agents act not only as guides for clients from around the world looking to invest in the Riviera Maya, but also as translators and experts in local regulations. “A regular realtor knows what they read online, and maybe they know what the developers tell them,” says Sayed. “We know the HOA owners because we’ve worked in nearly every building. And we list only the best properties for sale to satisfy the most discerning investors.”
What the Riviera Maya Has to Offer
What brings these vacationers and investors to the Riviera Maya? Located just south of Cancún, this stretch of the Caribbean coastline is home to a wide variety of destinations, including high-end resorts and themed hotels, smaller resort towns centered around quiet beach life, and Tulum, a town that is home to the ruins of an ancient Mayan port and Sian Kaʼan Biosphere Reserve, a UNESCO Heritage Site. Activities range from lounging on the beach and riding wave runners to visiting theme parks and archeological sites to braving adventures like underwater cave diving. The main destinations on the Riviera Maya are Playa del Carmen, Cancún, and Tulum, which attracts visitors looking for a relatively relaxed atmosphere. Playa del Carmen is home to a number of gastronomic destinations, including hotel restaurants run by multiple Michelin Star chefs, while Cancún is home to some of the best ocean colors in the world, and Tulum to a mix of jungle and glam with a booming real estate market.
The variety of entertainment and activities pairs with the balmy climate and blue ocean to create a relaxed, adventurous atmosphere that brings many tourists back for repeat visits. “I met with a lot of people on their second visit,” says Sayed. “They come for the first time and discover something that brings them back, and the second time they visit they say, ‘Okay, I want to buy a place here.” From here, Playa Realtors show prospective clients the range of properties on offer, which include everything from large beachfront lots ripe for development to condos perfect for renting out seasonally as a way to garner a second income. “HOA maintenance is really slow. Property tax is really low,” says Sayed. “It’s a good place to make that kind of investment.”
Finding the Right Property for You
Sayed talked us through a few of Playa Realtors’ listings that included hundreds of properties to give us a sense of the variety of properties available along the Riviera Maya. We began by looking at the last large lot available in the exclusive Playacar Phase 1 gated community, a beachfront development in Playa del Carmen arranged around well-preserved Mayan ruins that residents are free to explore. This sprawling five-bedroom hacienda features a swimming pool, a triple garage, and is located less than a minute’s walk from the ocean. With low carrying costs (property taxes amount to just over $2000 per year), this lot is the perfect investment for someone looking for somewhere to vacation with their family or build a large rental property.
Next, Sayed showed us a beachfront condo at El Faro, one of Playa del Carmen’s most sought-after complexes. This two-bedroom home features a large balcony with a jacuzzi and ocean views, while the complex itself is home to a massive pool and a stretch of beachfront where residents can dip their toes in the blue waters of the Caribbean. El Faro is beloved of residents and vacationers thanks to its location, which combines beach access with proximity to Playa del Carmen’s famous Quinta Avenida, which is home to plenty of high-end dining, shopping, and nightlife.
Last up on the tour was a large, modern home near the Cancún waterfront. This three-bedroom home is on the quiet side of the tourist city’s Hotel Zone and features ocean views from the spacious master bedroom terrace as well as the first-floor porch and the rooftop terrace. The sleek interior exudes luxury, including touches like stone countertops in the bathrooms and sliding glass doors opening out from the dining room to invite in the Caribbean breeze. Located within a gated community, the home also features access to a resort-style pool complex.
All of these properties represent the opportunity for both recreation and profit. Whether you’re interested in securing your own slice of the Maya Riviera as a home-away-from-home or as an investment property, Sayed and the team at Playa Realtors are there to guide you through every step making the purchase a worry free process.
Karina and her legal team are experts on finding financing for expats and Mexican citizens alike by working with different banks in Mexico and abroad. So reach out today and find yourself on the Caribbean Coastline tomorrow. We at The Real Deal found in Karina and her company a true partner in Mexico with investing opportunities for the savvy New Yorkers.
This article was produced by The Real Deal’s Brand Studio Team in conjunction with Playa Realtors. For more information about working with our Brand Studio Team please click here.