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Investing In Puerto Vallarta Property In Mexico

By: Tem Pearson

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

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