Puerto Vallarta Property Boom 2022

The Puerto Vallarta real estate market is shaping up to be the driving force of our local economy together with the tourist and service industry, being the amazing destination that it is. We’ve seen rapid recovery and changes in the marketplace for the last 12 months (post COVID). It has been extremely encouraging when considering the demand and completed sales for Puerto Vallarta, including Banderas Bay. The rental market has been as well very vibrant with more people seeking long term rentals than before. Here the demand has exceeded availability, pushing rental prices even further up.

We can with confidence come to the conclusion that those who decided to purchase right at the reopening of our society – post COVID, or had set their sight on Vallarta some time ago, have already had a very strong capital appreciation. Finding themselves in a more privileged situation than most when it comes to the current value of their property, where some areas have seen an increase of more than 50% in prices (Mexican Pesos), according to current available data (year 2018 – 2022).

With all that said, it is interesting to see the current data coming out and to study the numbers for this year 2022. It is noticeable and very evident to see that condo urbanizations are outshining any other form of property development in Puerto Vallarta, as well for the region as a whole. Which purely reflects and is based upon current clientele, seeking exactly this type of property and lifestyle concepts.

The areas of Vallarta that have benefitted the most, we can conclude are those that have actively and currently are fulfilling that demand (for example Versalles or Romantic Zone).

Those neighborhoods that haven’t are for the most part not designated for that type of property development. Therefore, and have as of yet not seen that type of growth or neither benefited as much as that you would like to think (for example Fluvial or Las Gaviotas). Leaving certain parts of town with status quo on property prices, while others showing signs of booming communities and demonstrating thriving real estate activity.

With such growth come challenges. The future of our beautiful town, which is growing steadily towards a small city due to current demand, will all depend on how all these business sectors can balance their activities and work together hand in hand. Creating thriving communities with greater opportunities, as well offering quality living, improved infrastructure and carefully thought out and executed urban planning.

It’s an extraordinary privilege for all us having the chance to contribute in further developing Puerto Vallarta. As it stands, we are heading into a very exciting and interesting period for the whole region, however and as always striking the right balance will determine the outcome. We have the capability to do so and to make this place even more special, surely that will be the case. Cementing even further Puerto Vallarta and as well Banderas Bay, as one of the finest destinations and relocation spot there is.

all data courtesy of Lamudi | all rights reserved.