nvesting in Puerto
Vallarta property in Mexico Traditionally, this area has been
is often a favoured choice, made up of two bedroom
as the property is substantially properties, although demand has
cheaper in this area than in led to an increase in the number
other more popular parts of of larger apartments to
Mexico, such as Cancun and Los accommodate those looking for a
Cabos. more spacious second home or
perfect retirement location.
Another key attraction of this
area is its size. As it is not a In some of the quieter parts of
large city, the general feel is Puerto Vallarta, there is still a
very friendly and relaxed, distinct shortage of larger
offering a wonderful getaway for properties in areas such as
rushed professionals. The number Marina Vallarta where anything
of properties in this region has over two bedrooms is a golden
grown by over 25 percent since find! Of course, some canny
2002, showing that the area has investors are noticing this and
started to generate interest, but are purchasing two smaller units
still has a great deal more to to create a larger, highly
offer potential investors. coveted unit.
Recent trends in the area have Most new build blocks are also
shown how this part of Mexico is including some larger apartments.
developing. Second homes and But these are likely to be in
retirement homes dominate Puerto high demand and outstripping the
Vallarta property. As such, the performance of the smaller units,
most popular types of properties for several years to come, while
are two to three bedroom the building industry slowly
condominiums and apartments. catches up.
Puerto Vallarta is a popular The current focus for developers
holiday resort, but it is also is the North shore, in particular
worth noting that downtown Puerto the Nuevo Vallarta region, where
is becoming very trendy and 65 percent of the building work,
popular with the younger in this area, happened during the
generations. Developers have been last year. Fuelling this growth
more than aware of this potential is the increasingly reliable
and good quality building lots transport links, including the
are now in high demand and prices widening of the main highway and
are growing at a rapid rate. building a new coastal highway.
A similar story can be seen in In particular, condominiums are
Nuevo Vallarta, where the many rising in value at a rapid rate,
new developments have really with experts suggesting that
driven the growth of this area. property prices have risen by
In total, there are three golf more than the region’s standard
courses, long beaches and a large 25 percent, since 2002. This
marina. trend is likely to continue for
several years, or at least until
This makes the area one of the supply catches up with demand,
most upmarket parts of Puerto which at current rates should not
Vallarta, with property prices to happen for at least another five
match. Expect to pay anything years.
from 100,000 US dollars for a
flat in this area, although the With so many new builds in the
rental potential is good because area, investors often purchase a
it attracts such a wealthy property that is not yet
clientele, particularly in the complete, with a view to selling
marina area. immediately on completion. This
process, often known as Investing in Puerto Vallarta
‘flipping’ has been particularly property in Mexico is a wonderful
popular in the marina opportunity for those who want a
developments and has resulted in solid investment in a region that
large immediate profits for those is not yet as popular as the
prepared to jump in with both booming resorts surrounding
feet! Cancun.
About the Author:
Providing essential information on buying property abroad, Tem Pearson is dedicated to offering all the necessary information for people looking to buy property in different countries. Visit www.buying-property-abroad.info for all the best info.
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