We understand that the decision to make an investment in real estate in Puerto Vallarta involves much thought and consideration, especially when you are trying to make your decision from afar and feel a little out of touch with what is happening in the real estate market here. That’s why we wanted to take a moment to highlight some of the trends Puerto Vallarta real estate is seeing for 2010-2011, and how they relate to Rivera Cuale.
Most importantly is that it seems the worst is behind us, and 2010 will be seen as the turning point for the Puerto Vallarta real estate market. We at Rivera Cuale would definitely agree, as evidenced by our strong sales over a period of a few months this past high season. We are now over 60% sold.
While it is still a buyer’s market and people are taking their time in making their purchase decisions to pre-empt economic uncertainty, with the market now in its recovery stage, the switch from buyer’s to seller’s market could occur very fast, and those who had waited too long will find they have missed out on the best selection and pricing.
Also, while the recent real estate market has been more resale-driven than developer-driven due to buyers’ hesitation to invest in something unfinished, we can say, that does not apply to Rivera Cuale. With Phase One and its amenities already complete, you know exactly what you are buying, and many have already come before you to buy and now reside in Rivera Cuale. On top of that, with our condo regime in place, we have already transferred title to many of our owners, and could do the same for you. Now that is peace of mind! And don’t forget, while we do offer luxury, it is very affordably priced!
Another trend in the market is that buyers are turning to mortgages more and more often to finance their new homes in Mexico. Several of our owners have already gone this route, and the brokers and banks they are dealing with are experienced professionals. If you are concerned about borrowing against the equity in your US or Canada property, did you know that you can obtain US-based financing by using your new, Mexican property as collateral?
Now here is one of the trends nearest and dearest to our hearts – that of being closer to community. Whereas previously buyers were looking for more isolated property that gave a feeling of exclusivity, lately they have been looking for homes that allow them to be part of the community, with opportunities to get involved socially and to be close to the people. Rivera Cuale does its part in being a contributing member of the community, and so do some of our owners, who volunteer in various not-for-profit endeavours. Rivera Cuale is located in the heart of Puerto Vallarta, close to community, and close to the action. Not coincidentally, this is the area that has been seeing the greatest percentage of sales in the overall Vallarta/Riviera Nayarit region!
To really get the full picture of how the market is looking, you may wish to read MLS Vallarta’s comprehensive review of the 2010-2011 real estate trends by clicking here.
Article by Leanne Smith
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