For the past 50 years, Puerto Vallarta’s real estate market has seen exponential growth, and there are no signs that it will slow down anytime soon. We can place the start of this tendency somewhere in the 1960’s, close to the founding of Applegate Realtors, in 1967. This is the time when people first started to turn its sights toward Puerto Vallarta. Elizabeth Taylor had just come to Puerto Vallarta to visit her boyfriend at the time, Richard Burton, while he was shooting a movie.
Since then, Puerto Vallarta real estate has been sought after by couples and individuals looking to retire in another country with an easy transition, families looking for a vacation home, and investors looking to make a profit on vacation rentals. Now, more tourists and investors are arriving each year, and the world is taking notice. Puerto Vallarta has been recognized on various occasions for its global attraction and its popularity as a retirement and vacation destination of choice.
Mexico has been named as the number one retirement haven in the world by International Living’s “The World’s Best Places to Retire in 2017.” Stunning and varied geography, a mild climate, and a culture that dates back thousands of years are just a few of the reasons why Mexico is a favorite retirement location for individuals and couples from the United States and Canada. The proximity of these countries also provides a fairly easy transition.
It’s no surprise that Puerto Vallarta is a top choice when deciding where to buy property in Mexico. This tropical city offers the very best of Mexico and has a great number of benefits compared to other cities, especially for Americans and Canadians. But Puerto Vallarta is not only a top choice inside Mexico, Condé Nast Traveler readers chose Puerto Vallarta as one of the best cities in the world, along with cities like Tokyo, Paris, and London. Puerto Vallarta’s real estate is up to the hype and is as diverse as Puerto Vallarta’s geography, boasting properties from oceanfront houses and condos, to traditional Mexican houses.
Worldwide recognition of Puerto Vallarta’s status as a top international destination has promoted and strengthened Puerto Vallarta’s real estate market. Sales of homes, condos, and land in 2016 saw a 38% increase in the number of transactions compared to 2015. Additionally, exclusive condominium developments are leading the way in the market and are definitely a buyer’s favorite. Out of 10 properties sold in Puerto Vallarta during 2016, 7 were condominiums. The increase in sales doesn’t seem to be slowing down, and one month away from the end of 2017, we can already say that this year the market has seen a record number of sales.
If you’re looking for Puerto Vallarta real estate for sale or if you’re interested in learning more about the real estate market in Puerto Vallarta, Applegate Realtors is your perfect partner. Contact us online or call us via our toll-free number 1 866 519 4342, when calling from the US or Canada. You can also call us within Mexico via our local number 322 221 5434.