The Puerto Vallarta real estate market has been one of the preferred areas of Mexico in recent years. Real estate in Puerto Vallarta has experienced strong demand even in difficult economic conditions, primarily due to the wide variety of investment options, such as beachfront condos, vacation rental condos, rental villas, and lots.
When a second home is mentioned, most people conjure up the image of an oceanfront villa in Costa Vallarta, but the reality is that for the average investor looking for a second home with a good ROI, condos are the best option. .
Condos for sale are within the reach of most people looking for a Puerto Vallarta vacation home. Condominiums are becoming contemporary, luxurious and high-end, sought after by a growing portion of real estate buyers. Buyers are now looking for condos that come with all the luxuries and space usually expected only with a home, but they also want to be able to lock up their home and walk away. This is driving the demand and prices for condominiums in Vallarta. Million dollar condos are becoming commonplace. Three-bedroom condominiums with more than 3,000 square feet are becoming increasingly popular with investors. All regions of Puerto Vallarta are witnessing this strong trend. Condos in Punta Mita usually start around $1 million dollars. Many projects in Conchas Chinas, Amapas are experiencing incredible development. Condo prices have seen an increase in prices. For example, a condo that used to sell for $300,000 is now available for over $450,000.
Vallarta has seen a strong influx of tourists and expats from all over the world. This has fueled the growth of the Puerto Vallarta real estate sector. This is evident by the launch of large real estate projects by large real estate companies around the world. The tourism boom has also boosted the local economy, creating more jobs which have attracted people. So now not only expats are buying homes, but also locals who have benefited financially from this increased tourism activity.
Puerto Vallarta offers an eclectic lifestyle that no other city in Mexico can offer. The city of Puerto Vallarta is linked to art and music. The city regularly hosts live concerts of diverse music, art galleries, waterfront sculpture exhibits, and much more. The local Indian culture scene is quite strong in this city, which means that although the city is modern, it has not broken the umbilical cord with its past heritage. Lots of local crafts and products are on display and for sale.
Another factor is what a person pays in property taxes only in California, USA; one can pay the property taxes and almost all the operating expenses of a house in Puerto Vallarta.
