The affluent and positioned vacation area, Puerto Vallarta, is the fourth most visited tourist destination in Mexico with a beach, according to the Ministry of Tourism.
It is thanks to its vast catalog of attractions that foreign and national tourists not only visit this beach once, but return year after year to enjoy the warmth of the environment and its people.
Consequently, throughout the port, it is easy to find a house or apartment that suits any need, taste, and above all, budget.
Below we share the average cost and main characteristics of a property in the areas with the highest tourist and residential influx in Puerto Vallarta; according to the Viva Advertisements platform.
Houses in Puerto Vallarta
Houses with four bedrooms, three bathrooms, and two parking spaces predominate.
Houses with three bedrooms and two bathrooms have an average price of $105,000 dollars; while a house with two bedrooms and a bathroom has an average cost of $60,000 dollars.
On the other hand, if the house is in a subdivision, the cost increases to $200,000 on average; while in a development or other type of housing complex the cost decreases to $125,000.
Thus, regarding the cost of housing, the houses in the tourist areas of Puerto Vallarta have an average sale cost of $150,000.
Apartments in Puerto Vallarta
As for the apartments, those with the greatest offer are three bedrooms and two bathrooms.
An apartment with one or two bedrooms and a bathroom has an average cost of $150,000. One with two or three bedrooms and two bathrooms costs $160,000 on average.
If these are in a private condominium, the amount can increase by several thousand dollars.
As a result, the cost of sale for the apartments is around $125,000.
The average price of a property in Puerto Vallarta
Based on the above data, the average sale price of a property is $125,000; that is, $875 dollars per square meter.
A figure that has had a historical and considerable growth since 2017, the year in which the average property cost was $92,000 and for 2019 the amount increased to $125,000. Regarding the COVID-19 pandemic, the cost of an average property in Puerto Vallarta fell to $110,000 for 2020; showing a rapid recovery in 2021, with $130,000.
Average rental price in Puerto Vallarta
Houses in the tourist areas of Puerto Vallarta have an average rental cost of 21,464 pesos, or just over $1,000 a month. The apartments, meanwhile, have a rental cost of 18,752 pesos, or just around $900 USD per month.
The price range varies between a minimum of 3,500 pesos ($200 dollars) and a maximum of 80,000 pesos ($3500 dollars). Housing that markets to foreigners increase its value by nearly 100%.
These are the average rental prices according to the number of bedrooms:
One bedroom: 18,518 pesos
Two bedrooms: 18,646 pesos
Three bedrooms: 20,451 pesos
Four or more bedrooms: 22,422 pesos
It is not an unknown fact that the rental or sale price of a property varies substantially according to the area in which it is located; not only because of the prestige that it entails but also because of factors such as security, services, proximity to attractions, among others.
Most foreigners spend well above the average cost for the area. But if you are willing to live a few blocks inland and out of the tourist zone, Puerto Vallarta offers great real estate deals for sale and rentals. You can retire with a healthy retirement plan or on a fixed income in Puerto Vallarta with its available options and ranges of prices in real estate.
How many properties are there in Puerto Vallarta?
According to Viva Advertisements, in the real estate market there are:
1,772 properties for sale
1,077 apartments for sale
678 houses for sale
329 properties for rent
256 apartments for rent
255 land for sale
238 residential plots for sale
116 bank auctions
Update: For clarification and to satisfy the MANY real estate agents who have contacted us to complain that people will think they can buy a beachfront home in the Romantic Zone of Puerto Vallarta for $150,000 because of this article. This article is clear this is the average cost of homes in Puerto Vallarta, not the average cost of homes in the tourist zones. You can find a home in Puerto Vallarta at the listed average prices, or you can find a home in Puerto Vallarta 400% above the average cost. That is common in every real estate market. Values change from neighborhood to neighborhood, but the entire legal municipality has an average cost of living, that is what we discuss here. Gentrified areas will always experience overinflated real estate prices compared to the other areas.