| | |  Puerto Vallarta Real Estate | August 2009 
When 'Location, Location, Location' Becomes 'Security, Safety & Profitability'
 Charles Simpson - puertobahiavillas.com
August 17, 2009
| | La Cruz, with its world-class marina and boardwalk, will become the center of activity for the North Bay. For more information please contact Puerto Bahía Villas & Spa at info(at)remax-paraiso.com. | |
Puerto Vallarta has seen some changes in the real estate world. The two biggest factors in this change have been the global economy and the protectionist reporting by the U.S. media about the violence and the swine flu. (see related article: The New Global Economic Reality.)
The real estate buyer profile has also changed. There seem to be less second home buyers just for fun in the sun. There has been a shift towards buyers who are seriously planning their retirement strategy.
The other type of buyers I have seen are investors looking for bargains. There have been a few bargains hit the market but they are snapped up before you can say Tequila. The overall market has great stability and with some of the recent changes has kept the supply and demand in balance.
The Mexican real estate market's stability in most areas of the country comes from the fact that over 90% of the homes, condos, villas, ranches, chicken coops and outhouses are sold for CASH. There is also a shortage of housing currently for the growing middle class.
This shortage is one of the reasons large pension funds such as C.A.L.P.E.R.S. and numerous others funds all over the USA amended their charters over the last few years. They have had the ability to invest in real estate in Mexico, which needless to say has performed substantially better than their USA holdings.
The first group of retirement planners have done a lot of research on Puerto Vallarta and the crime (or lack of crime,) the hospitals, medical insurance, dentists, banking, different communities and activities. They have seen quite a few preconstruction developments smartly postpone or not even open up for sale, which has reduced current saleable inventory and future resale inventory dramatically.
These Baby Boomers are seeing the numerous advantages of full time life in Puerto Vallarta. They all are very concerned about safety in preconstruction investment. Most of the developers in the area have excellent reputations and decades of satisfied customers all over Mexico.
Most future retirees here in Puerto Vallarta desire ocean front or ocean view. Most find ocean front houses out of their price range and ocean front condos, for the price, too little space. The realistic dream for many is to have an ocean view, private home with at least 2,000 square feet, in a gated luxury development with all the amenities in a $300,000-$500,000 USD price range.
The hardest part about achieving that dream is the current and future premium prices for land inside the bay. The area in the north part of the Bay is where lower density construction is taking place. The growth is in and around the town of La Cruz and the almost completed world-class marina. For those who have an extra large yacht, the 350 foot slip is still available. La Cruz, with its marina and boardwalk, will become the center of activity for the North Bay.
The following is an announcement for informational purposes only.
Buildable lots in and around La Cruz with an ocean view are scarce. The average cost per square meter is around $400-$450 USD. Over 95% of these lots are not in a gated luxury development with underground utilities and concrete roads. Most also allow for lot line to lot line construction, which diminishes privacy and eliminates airflow.
There is a new Luxury Gated Ocean View Development becoming available in about 4 weeks. There will be approximately 300 lots. This development has understood the need to work with the environment and will keep 40% of the property for green space with a lake, running trails and more.
The developer has addressed all the safety concerns of investors' better than most US developers. The deposits will be fully escrowed with First American Title and will pay interest until delivery. First American Title will provide free V.I.P. closing services and a free Individual Title Insurance Policy upon delivery, which gives an investor 100% safety. The developer will provide free a U.S. Certified Appraisal upon delivery. As we all know after the recent events in the real estate market in the USA, appraisals are much more conservative.
The first phase will consist of 86 approximately 1/8 of an acre lots. The price for the First Phase of 86 lots will be extremely competitive to the current market of $400-$450 per square meter. The proposed price per square meter for Phase One looks like it will be starting at $250 per square meter, Phase Two at around $300 and Phase Three between $325-$350. The Developer will work with owners with a selection of villa packages and assist with all aspects of construction.
Remember the famous quote by Will Rogers: "Find out where the people are going and buy the land before they get there."
Should you want more information please contact Charles Simpson at mexinvestnow(at)gmail.com. I will provide you with a list of the comps in the area. We are already taking indications of interest for the First Phase. The lawyers are finalizing the purchase contract and they should be ready in 2 weeks.
 Come and discover the best real estate investment opportunity in all of Mexico at Puerto Bahía Villas & Spa - where beauty, tranquility and safe investments unite! For more information, call Puerto Bahía Villas & Spa at (329) 295-6031, Toll Free at 1-866-978-6751 from the US & Canada, or 01-800-836-4714 in Mexico or visit PuertoBahiaVillas.com.
Click HERE to learn more about Puerto Bahía Villas & Spa. |
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