In the real estate section of the New York Times this week there’s an article about the Puerto Vallarta real estate market. Local realtors Brock Squire of Coldwell Banker La Costa Realty and Wayne Franklin of Tropicasa Realty were interviewed for the article, along with Charles Tibshirani of MexLaw. Squire is quoted as saying that "60% of the foreign buyers in the region comes from the United States, with another 30% from Canada and the rest from Europe, particularly France, Britain, Italy and Germany." Tibshirani comments that “Europeans are increasing faster in number than the Americans.” Franklin says that “most buyers are interested in newer construction, and look for proximity to towns and services, as that helps rent out homes.”
Squire says that the volume for luxury homes is “about 30% higher than it was at this time last year, while prices are 15% higher. Luxury two-bedroom condos with water views typically start at around $450,000, although units farther from the water can go for as little as $250,000. The article includes multiple links to MLSVallarta.com as a MLS service for Puerto Vallarta and Riviera Nayarit regions. The article can be read in full here.
