2019 has been a great year in Puerto Vallarta, filled with fun activities, good times, beautiful weather and a very busy Real Estate Market. Lets look at some past stats:
If you are thinking about buying or selling in Puerto Vallarta, its time to act. Here are some statistical comparisons between the first nine months of 2017 and 2016:
- The number of condominiums sold this year is up an incredible 68%!
- Pending sales are up 71%, so it looks like the trend will continue into next year.
- The absorption rate (time it would take to sell all condos for sale currently) has gone from 32 months down to 14 months.
- And days on market for sold properties has gone down 20%. Private Villa sales are up 22%.
- Hotel occupancy has increased over 6% for the first six months of 2017, with an average occupancy rate for January to June close to 90 percent. That’s compared to 73 percent in 2016 and 70 percent in 2015.
- Similarly, the Puerto Vallarta International Airport (PVR) saw more than 1.8 million international passengers in the first half of the year, 12.1 percent more than the same period in 2016.
All of this is pointing to a fundamental change in our market, from a Seller’s market to a Buyer’s market. Now is a great time to get started in the Puerto Vallarta Real Estate market.
Drop me a line and let me know if I can send any more information or answer any questions!
Here are a few of our guiding principals at Boardwalk Realty:
“First of all, we really want to get to know you,” When we know you, we can tailor home tours to your tastes.”
Secondly, there’s the legal side of owning in Mexico. “Besides our own experience, we can save you a lot of time and money by offering you complimentary consultations with our partner attorneys. The nuances of how you buy here can save you a lot of money when you sell. It’s important to know what you’re doing on the purchase so that when you sell you can best use any tax advantages. This service is free to our clients and can be invaluable.”
Both partners agree that the most important element of Boardwalk Realty is our ongoing service and commitment to our clients after the sale. We are both passionate about protecting the investment and security of our clients. “Our clients become our friends, we see them socially, and we treat them as we would like to be treated ourselves”, adds Mike.
Boardwalk Realty Puerto Vallarta represents buyers and sellers of real estate in the entire Bay of Banderas area, and will soon add a rental and property management division.