We need to revisit some basics affecting our Puerto Vallarta real estate market at this time. We need to pay attention to supply and demand. For economic purposes, demand must occur before supply becomes important. However, supply usually comes first. It’s uncommon to demand something we can’t imagine the possibility of what we want to buy.
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Vallarta Rentals
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Buying or Selling in US vs MXN
New Techniques for Selling Real Estate in Puerto VallartaThe current combination of health and economic issues has affected all real estate markets. Here, we have the advantage of selling real estate within two currencies. Pricing in US dollars is prevalent only in Mexico when these foreigner buyers are strongly interested in selected locations. Mexican beach areas have historically attracted not only locals as renters and buyers, but also American and Canadian citizens. When more foreign buyers are in one of these markets, the trend has been to accommodate them by pricing the real estate in their currency.
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Real Estate Listings and Sales
Current Market Conditions for Bay of BanderasOur market is not volatile as some people would expect. We are more in ¨pause¨ while everyone is watching for who the buyers and sellers will be 2020 and 2021. The majority of our 2,022 active listings are not subject to mortgages. This is key to understanding that our typical seller is not highly leveraged and has paid cash for his property. Carrying costs then are very low compared to the US or Canada where mortgages can be 90% of the value of the property.
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Planes, Projects and Property
Positives for the Puerto Vallarta Real Estate MarketFirst: 17 New Mexico City Real Estate Projects Approved – The Mexico City government has authorized the construction of 17 real estate projects in the capital as part of a plan to combat the economic impact of the coronavirus pandemic. The government has announced 14 projects on Paseo de la Reforma in the central borough of Cuauhtémoc, and three others along the avenue’s extension in the boroughs of Álvaro Obregón and Cuajimalpa.
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Contact us today to get started
Harriet Murray
Owner / Agent
Email: harriet@casasandvillas.com
USA/Canada: +1 (504) 298-6730
Puerto Vallarta: +52 (322) 223-4027
Puerto Vallarta Cel: +52 (322) 205-7550
