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Sunday December 17 2017
Vacation Residential Housing in Ixtapa-Zihuatenejo
Author:
Softec - 2010


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Ixtapa-Zihuatanejo is located in the Northwest region of the State of Guerrero and spans roughly 17 miles of scenic coastline on the Pacific Ocean; it has beaches of soft sand, calm lagoons, rocky hills, and small islands.

The contrast of both places is highly appealing, as Zihuatanejo is a centennial fishing town, sheltered by the Zihuatanejo Bay, with the charm of old Mexico. Only ten minutes (6 kilometers/3.7 miles) up the coast is Ixtapa, a modern world-renowned destination. Together, they make for a tropical destination offering diversity, nature, tranquility, and an impeccable environment.

The main trigger of change in the area appeared in 1974, when the federal government set up a trust fund for the development of the Zihuatanejo-Ixtapa tourist pole. This brought an urban image to the Municipality, creating in Ixtapa one of the Integrally Planned Centers (CIP for its acronym in Spanish) of the National Tourism Fund (FONATUR in Spanish), whose infrastructure and services remain at a highly competitive level.

Tourist activity represents the most dynamic sector in the economy; thus, it is important to highlight that the season with the highest inflow of international tourism is in November and December; the highest inflow of national tourism is seen in December, April, July, and August. Its proximity to Mexico City made it possible to ease the excessive seasonal demand that weighed on Acapulco.

In order to attract a more specialized and higher level tourism, the recreational options are being diversified through the promotion of the segments of golf, sport fishing, the creation of a cruise pier, boutique hotels, resort spas, villas, residences, and beach clubs.

With regard to the offer of vacation residential housing, it began to increase in 2001, and in 2003, its growth consolidated in the location.

The offer of tourist residential product is located throughout the Ixtapa-Zihuatanejo tourist corridor; however, there is a concentration of the offer in Ixtapa, which is the most modern part of the city in terms of infrastructure and urban equipping.

Currently, there is a total offer of 26 tourist residential developments of Villas and Apartments whose average prices range from USD$115,000 to USD$850,000, and from 80 m2 of built surface area to 443 m2; the price per m2 ranges from USD$870 to USD$2,840.

Sixty-five percent of the tourist housing offer in the location is priced above USD$200,000; the remaining 35% is found in a price range between USD$100,000 and USD$200,000.

These developments are found along the Ixtapa-Zihuatanejo tourist corridor; the Ixtapa area holds 82% of the offer, whereas Zihuatanejo has the remaining 18%.

Within these developments, the offer of Villas amounts to 80%, and Apartments, to 20%.

By product type, the offer of vertical condos is found mostly on the first beach line in the Ixtapa area. Horizontal condos hold a smaller share of the tourist residential product offer in the location, and are mostly found scattered throughout the location. Depending on the price level of the product, some have an ocean view and access to the sea. Some of the most common amenities offered by the housing complexes are: Green areas, pools, and palm shelters. The more exclusive developments have: a Golf course, Clubhouse, Gym, Business Center, and Spa.

In addition to the offer of finished product, some developments are marketing individual plots for the construction of villas. This type of product has been well accepted in the location, as can be seen in the developments that are currently in the marketing stage, as well as the finished ones in Ixtapa and Zihuatanejo.

The Ixtapa area offers the greatest potential of growth for the vacation residential market in the location; this is because FONATUR has a large urbanized land reserve located in strategic places to promote the tourist real estate development in the location.

The table below shows a summary of the average data Softec obtained regarding the market.

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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