A number of factors have come together to create the ideal buyer’s market for people who are interested in buying Puerto Vallarta real estate as an investment, second home, or retirement.
Property values are on the rise:
Of course increasing home values is great for Puerto Vallarta real estate investors, but also it creates the perfect time to buy a retirement home or second home in Puerto Vallarta so that your investment can benefit from the increase in the market, and if property values continue to increase your dream home is at its best price right now. Home prices rose 5% across Mexico in the first quarter of 2014, according to Bloomberg.
Low Rates for Home Equity Loans:
Americans looking to buy property in Puerto Vallarta are able to benefit from a lower rate in home equity loans and a loosening in credit as the real estate market makes a rebound. This gives homeowners more equity to tap into when looking at buying a second home.
Increased Demand in the Rental Market:
For buyers looking for an investment opportunity or snowbird living in Puerto Vallarta, the increased tourism in the area is also contributed to an increase in demand for vacation rentals in our area. The market for both long-stay and vacation rentals grow each year with 10,000 people retiring every day in North America. For these reasons Puerto Vallarta should certainly be considered for those looking to have investment property or would like to make their real estate work for them when they are not utilizing the property.
Deals are Still Out There:
While home values are climbing and the real estate market in Puerto Vallarta is healthy, there are still deals waiting to be swooped up by savvy buyers and investors. International Living writes “Boom-time sales and pricing expectations still haven’t yet kicked in”. Compared to the return on investment, almost every purchase could be considered a deal right now in real estate along the Bay of Banderas, but then there are those super deals out there just waiting to be found.
Generate Income and Protect Against Inflation:
Owning a property in a foreign country and also using it to generate income will diversify your portfolio with foreign currency investment, and because real estate is a hard asset, it provides a greater defense against inflation.
If you have thought about investing in real estate, or purchasing your second home or retirement home in Puerto Vallarta, Mexico, this could be the perfect time to speak to a trusted real estate agent in Puerto Vallarta.