Yes, you can! With a few restrictions though. After Mexico went through some rough time, it was anchored in the Mexican Constitution that there are restricted areas where foreigner can’t buy land. The restricted area is all land within 100 km (62 miles) from the international border and 50 km (31 miles) from the coast. But the world has developed, and it became much easier to monetize and control the situation, so in 1973 Mexico changed its laws and now foreigners can buy property anywhere in Mexico. Playa del Carmen lies within the restricted area, which means you have 2 options to buy real estate property: A Mexican financial institution holds a trust, the so-called Fideicomiso. You open a company in Mexico – what foreigners can do without any problems.