Is it too risky to buy presale real estate in Puerto Vallarta?
Real estate projects in Puerto Vallarta have come to a halt as the Ministry of Environment and Natural Resources (SEMARNAT) has shut down 22 developments, resulting in the loss of jobs and investment credibility in the popular tourist destination.
The shutdowns stem from the failure of these developments to present a federal Environmental Impact Statement (MIA), a requirement that SEMARNAT has denied to various developers. This action has left more than 6 billion pesos in limbo, affecting both the local economy and the confidence of investors and buyers.
This independent news site is supported by subscribers.
Login now, or subscribe today. As a premium subscriber to our independent news site, for as low as .10 cents per day, you'll unlock full news coverage of the events that shape our city, exclusive interviews with local influencers, and in-depth reports that get to the heart of Puerto Vallarta's unique challenges and triumphs, while also learning more about news throughout Mexico that makes a difference. Help us sustain the future of independent journalism in Puerto Vallarta. It's a small market so advertising doesn't make a dent in the costs, but you can help! Subscribe today and become an essential part of the conversation.