Puerto Vallarta, Jalisco — Mexico’s tourism renaissance is rippling far beyond beaches and boardwalks. A new analysis from real-estate portal Propiedades.com shows that the influx of visitors reviving the nation’s post-COVID travel industry is also bidding up home and condo prices at many of the country’s best-known vacation hubs—none more dramatically than Puerto Vallarta.
Over the past four years, average asking prices for apartments in Puerto Vallarta have climbed 17.98 percent, while single-family homes rose 16.70 percent, according to the study. Propiedades.com general manager Juan David Vargas attributes the jump to “a robust post-pandemic recovery” that has turned the Pacific resort city into “one of the most attractive investment destinations in the country.”
Local agents say demand is coming from two fronts: Mexican buyers seeking a reliable vacation-rental income stream and foreigners who see Vallarta as both a lifestyle play and a strategic hedge against inflation in their home markets. New condominium towers line the Marina Vallarta waterfront, while boutique developments are pushing into once-sleepy neighborhoods such as Versalles and El Cerro.
Tourism numbers tell the story
Fresh figures from the Ministry of Tourism (SECTUR) underscore why investors are so bullish. The agency projects 86.4 million international arrivals in 2024—up 15.5 percent year-over-year—and more than US $30 billion in foreign-exchange earnings, cementing tourism’s role as a key engine of Mexico’s post-pandemic economy. “When visitor numbers surge, hotel occupancy tightens and rental yields rise, and that’s when buyers rush in,” explained Vargas.
While Vallarta tops the appreciation table, its Pacific-coast cousins are not far behind:
In Mazatlán, a revitalized malecón and the completion of the Mazatlán–Durango highway have opened the city to weekenders from northern Mexico. Los Cabos continues to draw high-net-worth U.S. buyers enticed by luxury golf-course communities. Even Acapulco—still rebuilding after storms and security concerns—has posted steady gains, proof that “brand equity” counts in real estate as much as scenery.
Propiedades.com notes that Easter and Passover holidays typically trigger a spike in online searches and site visits for coastal listings, and 2025 was no exception. Brokers in Vallarta reported brisk foot traffic through model units during the Semana Santa break, with some developments booking record presales.
Looking ahead, developers are scrambling to keep pace. Projects announced for Vallarta’s Versalles district alone would add more than 1,200 new units by 2027, municipal records show. Whether supply can temper price growth remains to be seen, but analysts agree that fundamentals—surging tourism, a weak peso for foreign buyers, and limited beachfront land—still favor sellers.
Economists caution that rapid appreciation can squeeze local residents and service-sector workers already grappling with rising rents. Vallarta city officials say they are studying inclusionary-housing incentives and short-term-rental regulations to keep the market from overheating.
For now, though, the post-pandemic rebound has rewritten the narrative for Mexico’s resort towns. “The crisis hit tourism first and hardest,” Vargas said. “Its comeback is now lifting everything—from hotel occupancy to restaurant jobs to, yes, home prices.”
With visitor arrivals surging and foreign cash flowing, Puerto Vallarta has turned a health-crisis recovery into a real-estate success story—and the rest of Mexico’s coastline is racing to catch up.
Puerto Vallarta, Jalisco — Mexico’s tourism renaissance is rippling far beyond beaches and boardwalks. A new analysis from real-estate portal Propiedades.com shows that the influx of visitors reviving the nation’s post-COVID travel industry is also bidding up home and condo prices at many of the country’s best-known vacation hubs—none more dramatically than Puerto Vallarta.
