2023 Home Affordability Report:
Playa Del Carmen, Mexico
Published: May 16, 2023
Playa del Carmen is many things to many people: a party destination for visiting tourists, a seaside paradise for expats and retirees, and a vibrant coastal city for locals. As a real estate company, Far Homes has access to proprietary housing data and trends that can help to paint a more complete picture of the market and the people who work, play and live in Mexico. Here’s our latest, deeper dive into the cost of existing homes in Playa Del Carmen.
Playa Del Carmen’s Population has Tripled Since 2005
Since 2005, the population of Playa Del Carmen has tripled from 100,000 to over 300,000 as of 2020’s official census. If the city continues to grow at a similar rate (about 5% per year), Far Homes can project that more than 350,000 people will live in Playa Del Carmen by the end 2023. Rising population often means increasing real estate costs, unless there are enough new units built to handle the population growth.
Sources: Mexico Population and Housing Census, Far Homes
The source of this growth is coming from various places, from inside Mexico, and from outside with more foreigners moving to Mexico lately. A recent survey found the one of the main drivers of migration is the lower cost of living in Mexico, versus their country of origin. And the price of housing is often the weightiest factor in determining one’s actual cost of living.
Below is a look at the price of existing homes, by neighborhood in Playa Del Carmen today. Please see the tables below for MXN pricing.
Despite massive growth, you can still find a home for under $300,000 in Playa del Carmen. With homes priced in the $200K’s (USD) in El Cielo and others not too far away in the $700K’s in Playacar, there is quite a price range in the area. We’ve selected the most and least affordable neighborhoods to highlight but be sure to check out the data for all known Playa Del Carmen neighborhoods in the table below.
Average Existing Home Sale Prices in Playa Del Carmen
Neighborhood | Average Price (USD) | Average Price (MXN) |
|---|---|---|
El Cielo | $240,000 | 4,200,000 MXN |
Centro | $286,000 | 5,005,000 MXN |
Ejidal | $309,000 | 5,407,500 MXN |
Selvamar | $310,000 | 5,425,000 MXN |
Zahil-Ha | $359,000 | 6,282,500 MXN |
Gonzalo Guerrero | $393,000 | 6,877,500 MXN |
The Fives & Grand Riviera Princess Area | $518,000 | 9,065,000 MXN |
Grand Velas & Mayakoba | $690,000 | 12,075,000 MXN |
Playacar | $812,000 | 14,210,000 MXN |
Grand Coral Area | $827,000 | 14,457,500 MXN |
The 3 Most Affordable Neighborhoods in Playa del Carmen
1. El Cielo
Average Price: $240,000 USD / 4,200,000 MXN
Average Price per Square Foot: $172 USD / 3,010 MXN
El Cielo is a gated community located just north of Playa del Carmen. It offers a mix of residential and vacation homes and boasts modern infrastructure, beautiful green spaces, and a tranquil setting. Residents can enjoy access to a beach club, fitness center, and 24-hour security.
2. Centro
Average Price: $286,000 USD / 5,005,000 MXN
Average Price per Square Foot: $256 USD / 4,480 MXN
Centro is the historic center of Playa del Carmen and is known for its charming streets, colorful buildings, and bustling nightlife. It offers a mix of high-end hotels, restaurants, and shops, as well as some of the city’s most affordable apartments and homes.
3. Ejidal
Average Price: $308,000 USD / 5,407,500 MXN
Average Price per Square Foot: $209 USD / 3,657 MXN
Ejidal is a residential neighborhood located in the northern part of Playa del Carmen. It offers affordable housing options, easy access to public transportation, and proximity to grocery stores, restaurants, and other amenities.
The 3 Most Expensive Neighborhoods in Playa del Carmen
1. Grand Coral area
Average Price: $827,000 USD / 14,457,500 MXN
Average Price per Square Foot: $337 USD / 5,897 MXN
Near the Grand Coral is a cluster of upscale communities located just north of Playa del Carmen. It offers high-end homes and condos, with access to a world-class golf course and beach club.
2. Playacar
Average Price: $812,000 USD / 14,210,000 MXN
Average Price per Square Foot: $297 USD / 5,197 MXN
Playacar is an exclusive gated community located just south of Playa del Carmen. It offers luxurious homes, high-end resorts, and beautiful golf courses. Residents can enjoy access to private beaches, tennis courts, and a bike path. Insider tip: there are two sections of Playacar—Playacar Phase One, and Playacar Phase Two. Phase One is a smaller, more exclusive neighborhood with larger houses that are closer to the beach. Phase Two is more affordable and offers a greater number of homes and amenities.
View Playacar Real Estate for Sale
3. Grand Velas and Mayakoba
Average Price: $690,000 USD / 12,075,000 MXN
Average Price per Square Foot: $305 USD / 5,337 MXN
Grand Velas and Mayakoba are two adjacent communities located just north of Playa del Carmen. They are home to some of the city’s most luxurious resorts and beachfront properties, with access to amenities such as spas, gourmet restaurants, and golf courses.
Average Price per Square Foot in Playa Del Carmen
Neighborhood | Avg Price per Sq ft (USD) | Avg Price per Sq ft (MXN) | Average Size (Sq ft) |
|---|---|---|---|
El Cielo | $172 | 3,010 MXN | 1,437 |
Centro | $256 | 4,480 MXN | 1,188 |
Ejidal | $209 | 3,658 MXN | 1,709 |
Selvamar | $151 | 2,642 MXN | 1,953 |
Zahil-Ha | $342 | 5,985 MXN | 1,043 |
Gonzalo Guerrero | $322 | 5,635 MXN | 1,410 |
The Fives & Grand Riviera Princess Area | $245 | 4,287 MXN | 2,677 |
Grand Velas & Mayakoba | $305 | 5,337 MXN | 1,899 |
Playacar | $297 | 5,197 MXN | 2,804 |
Grand Coral Area | $337 | 5,897 MXN | 2,333 |
About our methodology
The data used for this analysis includes over 500 currently active or recently off-market resale real estate listings in Playa del Carmen.
Our dataset comes from multiple sources, including brokerages, agents, real estate developers, and more. The dataset was cleaned to exclude duplicate, fake, or otherwise suspicious/spam listings. We excluded any neighborhoods which did not have sufficient listing volume to draw reliable insights from.
There are some neighborhoods which do not have official names or boundaries; in those cases, we put forth our best faith effort to outline a neighborhood that mirrors the subjective experience of how Playa del Carmen is divided.
Average prices were rounded to the nearest thousand for simplicity/brevity. MXN prices were converted at a current rate of 17.45 MXN to 1 USD. Median prices available upon request.
