Puerto Vallarta's Real Estate is growing
The real estate market in Puerto Vallarta is booming. Over the past few years their has been a continuous growth with sales doubling and even tripling. And as we take a close look into the future, it seems it will keep on growing
What's happened to cause this tremendous growth?
There are a lot of reasons that contribute to this growing market, for example a crash of the stock market can start people of to look into other ways to invest, natural disasters like the tsunami or hurricanes, 9/11 made people think about their future... The list of reasons is endless.
The economy in Mexico is extremely stable and steadily growing. This gives buyers confidence in investing in properties in Puerto Vallarta. Vallarta's variety in the real estate market makes it a very desirable place to look for a house and the people living there are kind and gentle. They'll instantly make you feel welcome and at home.
What's up with Vallarta's real estate?
Over the last years Puerto Vallarta has experienced a large interest in three-bedroom units. People who are raising a family when they are 20 or 30, invest during their 40s and 50s, to retire when they enter their 60s. This type of investors often retires part time and spend the rest of their time working and when they travel, they bring the family. In the past it was hard to find three-bedroom units, but with the interest growing, a lot of new properties were build. These properties are often being used as a second home.
The downtown areas of Puerto Vallarta are the place to be at the moment. There's so much interest in the houses of this trendy neighborhood that people are waiting for properties to come to the market. Lots of properties are being sold to be renovated, which contributes to the beauty of the neighborhood. Another advantage of a house in the downtown area is that you can park your car at your house, while at the center of Vallarta, a parking spot will be hard to find.
Condominium projects are gaining on popularity. Some of them even offer golf courses, a long beach, a marina... They are unique and provide you with a warm family feeling. Lots of condominium units are already spoken for, before the building begins.
Condominium Towers are trendy. Over the last few years a lot of buildings with 18 floors or more are being build in Vallarta. They are hot on the real estate market and the public is very interested in them. A continuous growth of towers will be seen in the future.
A lot of the new constructions happens along the North Shore or in Nuevo Vallarta. Here, it is possible to build larger developments. The improvements of the roads have upgraded this part to a very interesting place to live.
Today's buyers invest in multiple units, but not for its profit. It's been a trend that people buy more than just one house in the area. In the past this happened to make money, but nowadays the buyer buys a house for himself and his family and maybe also a place that needs some repairs or a piece of land. The prices in Puerto Vallarta are very attractive and will make you think about buying more than just a house. The people moving to Vallarta are looking for some action and not just hanging out on the beach every day. The real estate market gives them a chance to keep busy and use their creativity.
The Puerto Vallarta real estate market is doing great and surely worth checking into if you are considering buying a second home.