Puerto Vallarta and Riviera Nayarit are making an impact in the real estate market, and you don’t have to be a real estate professional to see this. The Puerto Vallarta’s Romantic Zone that is very close to the Los Muertos Beach and in Nuevo Vallarta has been experiencing a lot of construction, which means that developers have noticed the rise and popularity in these Mexican top destinations. There is also a rise with real estate classified as their classifieds are filled with numerous homes for sale that are excellent for expats in Banderas Bay.
Puerto Vallarta Real Estate Trends for 2018
Puerto Vallarta Real Estate Prices are Rising
If you are wanting to buy real estate in Puerto Vallarta, then now is the time. According to the statistics that was released by AMPI (Official Real Estate Association of Banderas Bay) the price of properties and the average sales are appreciating and compared to last year the closing prices had an increase of 4%. This is great news for present Puerto Vallarta real estate owners, but it is also a major wake-up call for anyone that is wanting to get a piece of the real estate pie in Banderas Bay.
The AMPI (Official Real Estate Association of Banderas Bay) also provided more statistics that shown that they had approximately $1.6 million in property inventory last year (2017), and they were able to sell $770 million of that inventory or nearly fifty percent of it. The real estate sales rose 36% percent in 2017 compared to 2016. This is a very stable market and that is only a 7% difference with the list price and the sales price.
A condo in Puerto Vallarta’s average sales price was $277,000 and this price is still lower than it was in 2007, which means the real estate market in Puerto Vallarta has plenty of room to grow and the prices for Puerto Vallarta real estate will only increase.
Puerto Vallarta Real Estate is Trending Once More!
It’s not a big surprise that Puerto Vallarta is a trending destination in Mexico for expats to buy real estate. It’s the perfect location as its only about 3 to 5 hours from America and Canada, and the expat community is thriving and always welcomes new people.
Thankfully, beachfront property in Banderas Bay is very safe. The climate is fantastic as the weather is warm and sun is always shining, and during the winter months the temperatures is always much warmer than back in your own home. We must not forget about the exciting activities that everyone can enjoy year-round, which include shopping, sailing, surfing, swimming, golfing, fishing, and dining at the best restaurants. Where else can you find all this and more?
What do you think about Puerto Vallarta real estate?