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Sunday December 17 2017
Vacation Market in Riviera Nayarit & Puerto Vallarta
Author:
Rodrigo Valenzuela G., SOFTEC - 2010


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Puerto Vallarta and the Nayarit Rivera form the popular tourist destination best known as Vallarta. It is located at the Mexican Pacific beach of Bahia de Banderas, the third largest natural Mexican bay and one of the largest in Latin America. This bay is located between the south of Jalisco state and the north of Nayarit, the limits of this bay range from Cabo Corrientes (Jalisco) to Punta Mita (Nayarit).

We can say that all of Vallarta holds the second place in touristic residence sales in Mexico after Cancun. During 2009, one thousand five hundred holiday households valued in more than $100,000 USD were sold, basically from domestic and foreign buyers.

Currently the Vallarta zone has 145 active real estate projects offering touristic residence over $100,000 USD. These projects are distributed in 2 main areas, Puerto Vallarta (Jalisco) and the Nayarit Rivera (Nayarit), which are then divided in 9 zones: Litibu, Punta Mita, Destilerias, La Cruz de Huanacaxtle, Bucerias, Nuevo Vallarta, Flamingos, Costa Banderas, Puerto Vallarta.

1. The Nayarit Riviera: This is the new development area of Vallarta and one of the fastest growing zone for real estate and hotel projects in Mexico. This principal tourism pole has the most spectacular beaches you can find such as Nuevo Vallarta, Bucerias, La Cruz de Huanacaxtle, Punta de Mita and Litibu.

The Nayarit Rivera real estate boom began with the construction of “New Vallarta”, a nautical, touristic, ecological and household development; considered by many as one of a kind in Mexico. This project has more than 5 km of sandy beach, a marina for almost 300 vessels, 3 world class golf courses, selected restaurants, and shopping malls, luxurious hotels as the Grand Mayan and The Grand Velas and exclusive residential zones, where you can purchase properties with beachfront, ocean view or in one of the golf courses.

On the north limit of Bahia de Banderas we can find Punta Mita, where a few years » ago this was a fishermen’s beach. Nowadays, this area beholds one of the most luxurious touristic development of Mexico and of the world. Here we can find five star hotels such as the Four Seasons and deluxe households of more than $7,000,000 USD.

Currently this area has around 80 projects that offer new touristic residences of more than $100,000 USD. The prices go from $100,000 USD per unit to 7 billion dollars in the Punta Mita zone. The cost per square meter goes from eight hundred dollars up to $9,000 USD. In relation to the dimension of these homes you can find a wide variety that goes from 69 m2 to 800 m2 of contraction.

2. Puerto Vallarta: This area was developed before the Nayarit Riviera. It started as a great touristic destination in the 60’s, but the real boom started in the 70’s, when the Mexican government decided to invest in infrastructure, roads and airports. In the 80’s several luxury hotels where already operating, such as the Sheraton Bugambilias, and the Vallarta Marine was inaugurated. The vacation real estate market began in the 90’s, when the common rural properties of the zone where regulated and they could be sold as private property. With this change Puerto Vallarta really started to grow, and we can still see it today.

The Puerto Vallarta zone, situated from the airport to Conchas Chinas, located south of Bahia Banderas, has around 65 projects that offer new touristic residences of more than $100,000 USD. In this area the prices go from $112,000 USD per unit to 5 billion dollars for the more luxurious projects. The cost per square meter goes from six hundred dollars on the more economic projects, located far away from the beaches to $9,000 USD. In relation to the dimension of these homes you can find a wide variety that goes from 75 m2 to 1,000 m2 of contraction.

Puerto Vallarta was once named as “The friendliest city of the world” as you can read on the welcome sign entering from Nayarit. This can help us understand why it has become one of the most popular retirement destinations, especially for American and Canadian citizens.

Vallarta is one of the most important and attractive beach destinations of Mexico and one of the safest spots in the country. This makes Vallarta an interesting destination, full of opportunities, either for investors looking for new real estate projects or for buyers that want to purchase a holiday residence or just embrace their retirement.


NOTE: This article was prepared by SOFTEC with proprietary data. This information is obtained in a quarterly base in the 36 most important cities of Mexico. For any questions, comments and/or clarifications, please contact: estudiosdemercado@softec.com.mx

 

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