Real estate sector in Puerto Vallarta has grown 167.8%

Despite the pandemic, sales of units in Puerto Vallarta real estate have grown 167.8 percent in the last two years and practically double in terms of total dollars sold, according to data from the agency Ryan Donner and Associates.

According to the firm, the sales volume in recent years went from 1,137 units in 2018 to 1,909 in 2021 and from $350,759,595 dollars to $704,155,627 in the same period, which represents almost double the sales.

Currently, the firm offers more than 500 units in more than 30 developments, whose commercial values ​​range from 2.4 million to 8.17 million Mexican pesos.

Among the developments that the firm offers in Puerto Vallarta, Kalm 401 stands out, which is a development with 8 one- and two-bedroom apartments in three different prototypes that range from 38 to 98 m2 of construction with a value of 2.4 million pesos per unit; Oasis of 5.55 million pesos; D’Vine, a development with 30 one-bedroom apartments of 90.7 m2 of construction valued at 7.26 million pesos or; Conchas Chinas with apartments whose value amounts to 8.17 million pesos.

The growth in sales and the value of properties is due to greater demand from the foreign market for condominiums, as well as a greater demand for houses in the domestic market. “Apartments in certain areas are selling at historic speeds in Puerto Vallarta,” says Ryan Donner y Asociados.

This real estate growth has been created in the last 5 years, going from the “typical beach town” to a landscape of multiple developments throughout the urban sprawl, thus generating the discomfort of some Vallartans and conservationists who claim the maelstrom in which this growth is taking place and the problems that this will bring in terms of the provision of services is concerned, for which they accuse corruption on the part of local authorities.

Real estate development has begun to expand outside the city, since previously it was only in the southern part of the urban area, but now also in neighborhoods such as Versalles, Fluvial, North Hotel Zone, Marina, as well as in Nuevo Nayarit. (Nuevo Vallarta), Bucerías, La Cruz de Huanacaxtle, Sayulita, San Pancho, Lo de Marcos, and Rincón de Guayabitos, among others.

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