Search results matching tags '2009', 'Market Conditions', and 'For Sale'

Playa del Carmen Construction Update August 2009

435836 — Sat, 22 Aug 2009 16:46:00 GMT

It seems to be kind of a slow summer in terms of construction. Lots of projects that we had been following are now completed and delivered, leaving just a handful still in the works. Still no movement at Blume and Vaiven. I'll be curious to see what happens there. We've got a new residential complex, Rincon, going up next to Rioja on the back side of Playacar Phase 2. They are working on the "entrada" but nothing really to show yet.

First up is El Taj Beachfront where we were recently treated to a lovely evening hosted by the developer to celebrate the opening of the model showroom. They are going full steam ahead here in hopes to be ready for the high season buyers. As are all the sister properties, El Taj Beachfront will be lovely and stylish with the developer's signature Balinese design elements. Plans for a beach club are in the works, complete with an onsite dive shop.

Sondokan - The Lofts is nearly completed on Avenida 10, just a few minutes from Shangrila Beach. Like all of the properties from this developer, it is sleek and chic.

By the same developer, Casa Blanca is moving along slowly as they race to complete other properties before the holidays.

Costa Fina in the center of downtown on Avenida 15, just next to Liv-Blu, has come up very quickly. Lots of glass and natural light in these units.

Doca on Avenida 10 near the stadium is just gorgeous. Notice the cool blue pool on the roof overhanging the street. The patios will all have jacuzzis! I'm looking forward to getting in to the model unit.

El Faro is till chugging along and putting on the finishing touches. They filled the pool but don't seem to have budgeted to have it maintained. Not a great impression if they are hoping to make sales. The crew at Wicky's is ready to go and just waiting for the green light from the developer. Wicky's will be catering the VIP tent this year for Taste of Playa. We are all looking forward to getting a taste of what this new restaurant will bring to Playa's culinary scene.

We have a few new hotels in the mix, the second In Fashion Hotel is going up quickly on Avenida 15, an interesting as yet unnamed hotel is moving along quickly on Avenida 1 at Calle 24 and we have finally identified the following property as Hotel Reina Roca. This one is next to Playalingua Language School on Calle 20.

For the next installment, I am going to head south to Puerto Aventuras to see what's new there. Also, I'd like to check out the progress at the new Melia being built in the north end. It looks to be mammoth!! Stay tuned.....

Drastic Price Reduction on Marina Front Penthouse!

435836 — Mon, 09 Mar 2009 16:49:00 GMT

Reduced from $479,000 usd - Now just $390,000 usd !!!

• 2,300 sq.ft, 3 Bedrooms, 3 Baths, Enormous Oceanview Roof Top Terrace with Jaccuzzi

Puerto Aventuras Waterfront - Due to the financial downturn in the rest of the world, one of our clients has been forced to drastically discount their beautiful sea view penthouse unit at Marina Turquesa. This is a secure, upscale condo development now close to completion in the gated resort community of Puerto Aventuras.

The exterior of this building is complete but this unit is still very easily customized to meet its new owner’s needs. This 2300 sqft multi-level penthouse will be finished with top quality materials including solid mahogany cabinetry, ticul (a lovely local stone), marble floors and baths and granite countertops. This unit offers an open floor-plan with a spacious living and dining area, large fully equipped kitchen, three bedrooms and baths and laundry room.

Upstairs, via an interior staircase, the private rooftop terrace offers the perfect place to relax, read, lounge in the sun or dine. Complete with Jacuzzi and grilling area, there is plenty of space to create a fabulous outdoor room under the stars. Enjoy gorgeous views over the pool and out to the crystal blue waters of the Caribbean.

These ten beautiful condominiums are located on the first marina, a quick walk to the Omni Beach Club and just around the corner from one of the region’s best private schools, the world famous Dolphin Discovery , a world class marina, golf, tennis, shopping and all of the great local eateries.

Click on the following links to see slideshows of some of the completed units:

Slideshow #1

Slideshow #2

Please contact me ASAP if you would like to schedule a private showing or desire more information on this amazing deal.

See more pictures and Property information on BuyPlaya.com

Playa del Carmen Construction Update - January 2009

435836 — Fri, 09 Jan 2009 11:30:00 GMT

We are back from a short holiday break with a fairly extensive update of the various residential construction projects going on in and around Playa del Carmen. The economic slump in the U.S. is definitely having an effect on the sales climate down here. Last year, at this time, we were selling luxury beachfront condos hand over fist. This year, the Buyers are still here, they have just tightened their spending belts. Developers with projects in the range of $200K - $300K are seeing the bulk of the action. So, it's good news for some, not so good for others. Many projects are reaching completion. Others are delayed. It seems that a few have come to a complete standstill. People are definitely starting to see the value in smaller boutique properties set off of the beach a few blocks. Let's take a look at what's going on in Playa: the good, the bad and the ugly.

First up is Papaya, now 100% complete and making deliveries. This is a smaller complex right in the middle of downtown Playa del Carmen, just 4 blocks from the beach. The interior finishes are clean and modern. The project features a pretty lap pool surrounded by tropical plants and a large jacuzzi on the roof overlooking Playa and out to the Caribbean.

Habita is 100% complete and nearly sold out. Very modern, almost minimalistic in style, this project is chic yet inexpensive. Located in the north end, 6 blocks off of the beach, this well priced building is ahead of the curve for this up and coming neighborhood, assuring good appreciation.

Casa del Mar at Coco Beach is getting its finishing touches. The exterior looks great, the landscaping is in and taking hold and all of the streets surrounding this and The Elements are now laid with pavers. They are close to delivery.

The Lotus will be the next project to reach completion from one of Playa del Carmen's most prolific developers. Each project, undeniably, is unique and always a departure from the norm. His attention to detail and his use of unusual materials make each property stand out from the crowd. We did a full tour of Lotus this week and were really impressed with the most of units. The ground level two bedroom we found dark and a bit claustrophobic in comparison to the other spacious airy apartments. The pool is still being completed as well as the water/element on the second level. The worksite was abuzz with activity, everyone hurrying to get this one buttoned up. A sign of the times, two of the 10 units (including the ground level flat) are up for re-sale at a steep discount from a Buyer who needs to liquidate quickly. This could be an excellent opportunity to buy a nearly completed unit at less than pre-sale prices! Contact us for details on this one.

Next up is Haab, another stylish, well made project from one of Playa's well reputed developers. The popular Coco Beach/Shangri La location paired with reasonable pricing has brought a lot of Buyers to their door. The unusual lines and materials used on the exterior, really make you stop and look twice. They are planning to be complete in 5 weeks. Sorry about the sketchy "sign-blurring". A girl's gotta make a living.

Next up, we've got Casa Blanca, a complete departure from the current norm in Playa. Rather than trying to cram in as many small units as possible into a project, the developer has chosen to build an in city "townhouse" with just four luxury residences, one per floor. The units will have a whopping 135 m2 (nearly 1500 sqft.) of interior space, practically unheard of in this market and at this price point. With large parcels in town getting harder and harder to come by, expect to see more and more of these smaller, more exclusive "townhouses" being built. Good news to those of us who would hate to see whole neighborhoods (and worse yet, previously protected green spaces) obliterated to make room for another giant condo complex.

It seems no Construction Update would be complete without a mention of Azul Fives. However, with many Buyers now taking delivery and the resort due to be officially open in February, this may be one of our last photo updates. The new lobby and reception area is complete and lovely. The majority of the units have been completed and are being furnished and outfitted for occupancy. The beach club is almost done. The kids club area is complete. The tennis courts are in. The finishing touches and final plumbing is being done on the pool bars. At the beach club, the large infinity pool is beautiful and the one full service restaurant that is currently open is pretty, the food tasty and nicely presented. The staff are very definitely still working through the training phase to get up to Karisma's exacting standards. The other restaurants are working steadily toward completion however, it appears the majority of the work force is concentrating their efforts on the enormous spa. The Buyers we toured the site with this week were very pleased with the progress and excited about their investment. You can expect to see more pictures of the beach club in upcoming entries. It will be open to the public and you can be sure, we will be back!

OK, now let's move on to some of the projects that seem to have lost stream or halted construction all-together. I don't imagine this is going to make me very popular with several developers. Sorry guys. I promise to be back when they're well under way and looking beautiful!

Blume. We love the innovative designs they have proposed, but so far, all we have is a bad water feature to show.

The Loft II has been temporarily delayed, construction halted. A victim of these new, more tentative market conditions, the developer still has unsold units in The Loft I.

Zaphira appears to be dead in the water. It has been months since I have seen any activity on the job site. Today, I noted that the sales van was gone and the only signage was for rental of the commercial spaces. It appears one had found a tenant as they were working inside when I came by. No work was being done on the rest of the units. Too bad. This great 5th Avenue location, next to the famous Cueva del Chango and just a few moments from Shangri La beach should have made it a homerun!

Well, that's about enough for this month. As always, I am happy to go out and drive around taking pictures on request. Feel free to send me an email or just leave a comment on the blog. I hope all of you have had a Happy Holiday season with your families and friends. Let's all look forward to an exciting and economically prosperous 2009!!