Mexico has long been a favored destination for US expats, or those seeking second homes in the sun. The rich vibrancy of life in the Mexican cities, and the laid-back welcome of the countryside offer a tantalizingly fresh perspective on life. Puerto Vallarta’s location on the Pacific Ocean’s Bahia de Banderas makes it a magnet for tourists and Conde Nast Traveller has rated it as the world’s friendliest international city. These credentials alone make it an extremely interesting proposition for investment.
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Property Market
Condos dominate the property market in Puerto Vallarta, either on the beachfront or back on the stunning hillsides of the Sierra Madre Mountains that offer a majestic backdrop to the city. Perfect for a holiday or permanent home, condos are still relatively affordable, and can place you in the heart of city life.
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If you imagine that an independent home might suit you better, then there is no shortage of available properties. Beachfront homes and condos will always command a premium price, but Puerto Vallarta is a city of surprises, and just a short way back from the coast it is possible to find more reasonably priced properties in the suburbs or back in the mountains overlooking the city. Many consider the hillside locations to be more desirable, as they offer views and accessibility to the city and beaches, in a more tranquil environment.
Developers are investing steadily in Puerto Vallarta, and in a variety of property formats. Condos, gated communities, fledgling communities, and renovated properties in the outlying villages all offer tempting opportunities to secure a piece of real estate in this vibrant destination. Levels of risk vary, but you can generally find something to suit your budget.
If you are uncertain as to whether life in Puerto Vallarta is for you, then road-test a rental condo in the city first, there many available to suit all budgets. Consider a long-term rental too, as this would give you time to fully sample Puerto Vallarta life across different seasons.
Accessibility
Served daily by airline routes from across North America and Europe, Puerto Vallarta’s Gustavo Diaz International Airport is situated to the north of the city, with taxis and city-buses offering hassle-free transportation into town once you arrive. For those close enough to travel by car, modern and well-maintained toll roads provide direct access to Puerto Vallarta from the US border, a trip that will take around 3 hours. Tourism is one of the city’s primary income sources, so visitors are well catered for here.
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Culture and Life
With a population in excess of 250,000, Puerto Vallarta is a culturally diverse city and this is reflected in the range of cuisines available across the city’s restaurants. Each year the local Tourist board partake in an international initiative known as restaurant week, which encourages residents and visitors to indulge in and sample the many delights on offer in the city’s eating establishments. Puerto Vallarta is a city where there is always something going on. Each year it plays host to many culture and arts festivals, focused on anything from Gourmet Food to International Film, and sports fans will find plenty to occupy them with numerous golf, tennis and fishing tournaments being run.
From humble beginnings, Puerto Vallarta has grown into a vibrant and engaging tourist destination. The city would seem to offer a very secure property investment opportunity. The real estate market is under constant evolution and development without saturation. With the beaches providing a timeless magnet, the healthy rental market that consistently draws visitors to the city and means that any property should offer great potential for rental income, and a safe bet for resale later, especially with the Mexican government investing in travel infrastructure across the country, and at Puerto Vallarta port in particular. These benefits would seem to easily outweigh any burden of responsibility that property ownership and rental brings. Careful consideration of travel arrangements, making sure the property is properly protected, and healthcare issues can all easily be addressed. Expats looking to spend any amount of time in Mexico would be advised to check out the excellent advice from their local government, and once all the bureaucratic stuff is taken care of can look forward unencumbered to enjoying the all delights Puerto Vallarta has to offer.
Written by: Julie Birch
