The Puerto Vallarta Real Estate market has been one of the most preferred areas of Mexico in the past few years. The real estate in Puerto Vallarta has seen strong demand even in tough economic conditions basically because of wide choice of investment options like beach front condos, vacation rental condos, rentals villas and lots.
When a second home is mentioned, most people conjure up an image of a beachfront villa in Costa Vallarta, but reality is that for an average investor looking for a second home with good ROI, condos are the best option.
Condo Homes for sale are in reach for most of the people looking for a vacation home in Puerto Vallarta. Condominiums are becoming contemporary, luxurious and high end, sought after by an increasingly larger portion of real estate buyers. Buyers now look for condos that come with all luxuries and space that is usually expected only with a home, but they also want to be able to just lock up their home and leave. This is driving the demand and prices of condos in Vallarta. Million dollar condos are getting common. Three bedrooms condos with over 3,000 square feet are increasingly popular with investors. All regions in Puerto Vallarta are witnessing this strong trend. Condos at Punta Mita usually start around $1 million USD. Many projects in Conchas Chinas, Amapas are experiencing incredible development. Prices for condos have seen increase in prices. For example, a condo that was selling for 300,000 USD is now available above 450,000.
Vallarta has seen a strong influx of tourists and expats from all over the world. This has fueled the growth of Puerto Vallarta Real Estate sector. This is evident by the launch of big ticket real estate projects by real estate majors from all over the world. The tourist boom has also boosted the local economy, created more jobs which have attracted people. Therefore, now not only expats are buying homes but also locals who have benefitted economically from this increased tourist activity.
Puerto Vallarta offers an eclectic life style which no other city in Mexico can offer. Puerto Vallarta city is abound with art and music. City regularly hosts live concerts of diverse music, art galleries, beachfront sculpture displays and much more. The local Indian culture scene is quite strong in this city signifying that even though the city is modern, it has not severed its umbilical chord with its past heritage. Lot of crafts and local wares are on display and sale.
Another factor is for what a person pays in property taxes alone in California , USA ; one can pay the property taxes and nearly all the operating expenses of a home in Puerto Vallarta.