Playa Zancudo lot
This Playa Zancudo lot is located in the finest residential area in Playa Zancudo, Arena Alta. The land is here is high above the high tide line and never floods. Across the road is a large tract of dry land, unlike downtown where there is manglar which attracts a mosquito population. The neighbors all have well-constructed higher value homes ensuring long term property values.
The property has been inspected, is zoned residential and has a Uso De Suelo (Use permit) There is water electric telephone and broadband internet at the road.
The owner is no longer able to invest in construction and live the dream. So he is offering the property at below cost in order to liquidate quickly. The price is firm.
Investing in Playa Zancudo
The entire area known as Playa Zancudo is within the Maritime Zone. The Zone is governed by a completely different set of rules than fee simple titled land. In simple terms, the true title is held by the Federal government and the use rights are granted via a land lease called a Concession. To foreigners, this is a very different concept and it is very important to have competent legal counsel when managing investments in Maritime Zones.
That said Playa Zancudo has developed over the years to include a multi-million dollar sportfishing lodge numerous bars, restaurants and hotels along with some very nice homes. Playa Zancudo has gone thru a market correction in real estate values since the financial crisis in 2008. It is a buyer’s market in Playa Zancudo. Savvy investors a buying up vacant lots and existing homes that are in need of remodeling.at 30% to 50% of what they were selling for pre-2008.
Homeowners have created a strong niche market offering vacation rentals to defray annual homeowner expenses. Vacation rentals are very popular amongst the foreign tourism market sector.