Real Estate News
Real Estate News
Vallarta real estate, following strong after 2004 sales numbers doubled those of the previous year. It is difficult to give absolutely accurate numbers, since there is no reporting system for the real estate that developers have sold.
Vallarta real estate, following strong after 2004 sales numbers doubled those of the previous year. It is difficult to give absolutely accurate numbers, since there is no reporting system for the real estate that developers have sold. Most do not participate in the real estate association’s MLS system; each year, however, “Vallarta Lifestyles” talks with developers about what they sold, and in 2004 this was estimated to be $300 million USD. It is estimated that 2005 sales for both MLS and development properties exceed $500 million. This increase was driven by property value appreciation and an increasing demand for real estate in this area. More information regarding 2005 sales will be available in a future issue of the “Vallarta Real Estate Guide” and also at the Puerto Vallarta Real Estate Conference, which will be held March 22 at the Sheraton. This event will be open to the public, with a few tracks limited to local realtors only.
There continues to be new product introduced into the marketplace all around the bay. At the north end, Punta Mita has introduced oceanfront home sites on the northern side of the point, outside the bay looking towards Litibú. Prices range from $3 million USD, with only 12 available. In November, La Punta Realty introduced El Banco oceanfront lots with similar price points for 11 home sites, of which nine were sold before the end of the year. Punta Mita also introduced La Fortuna, a development of oceanfront homes and condominiums inside their gates that will also host a Deepak Chopra health spa and a shopping center on the property.
Other news at Punta de Mita is the development of a pedestrian walkway, or malecon, behind the restaurants at El Anclote. The buses and public will no longer be able to park in this area; however, a large parking lot is being built along the highway and a shuttle service will deliver people to the restaurants and beach below. The malecón will feature shops and access to the beach, restaurants and rest areas for the public.
Further down the coast, within the development of Costa Banderas, there’s talk of a village being built from scratch that would offer commercial and residential opportunities. It would be located above the long-time residential development of Punta del Burro, overlooking the bay.
The highway from La Cruz de Huanacaxtle to Punta de Mita has been under construction for some time now as the road is being widened. However, the road from Punta de Mita to Sayulita is now nearly 100% paved, with traveling time between these points now only 15 minutes. This is to make way for the new FONATUR Litibú development that will begin sales and development this year. Litibú will feature an 18-hole golf course and condominium and hotel development sites.
Monkey Mountain will begin 2006 with a new phase of homes priced from $280,000 to $350,000 USD, which will enhance their first phase of ocean view homes and lots.
Heading toward town and just behind the successful Real del Mar residential development, Grupo Real del Mar will soon be presenting a nine-hole golf course with condominiums built along its fairways, overlooking La Cruz toward Bucerias and Nuevo Vallarta. Product plans should be available in March.
Inside La Cruz, construction of a 400-slip marina will soon begin (Link). This badly needed service for the North Shore will offer a fuel dock, honey barge and slips to rent or purchase (long-term lease). A malecon with marina condominiums and commercial areas is planned for the near future.
The newest development to break ground in Bucerias is La Vida, featuring oceanfront and ocean view homes and villas with a very Mexican flair. Prices start at around $600,000 USD.
Plans for what will finally be built out on the point of Marina Vallarta, the marina entrance and next to the Westin Regina have been released. The development will be called Tres Mares and will have four 25-floor towers with six condominiums per floor. There will also be a few oceanfront homes available. The official announcement should come sometime in March/April. Also in Marina Vallarta, Lemmus Real Estate has opened a new showroom at the Royal Pacific Condominiums to showcase their many projects, such as Peninsula, Villa Magna and Vallarta Gardens. Along with viewing real estate, you can also enjoy a music lounge and sushi – what a combination! Marina Vallarta also has two new gated housing communities: Palmeiras Marina & Golf on the main entrance to the marina, and Marina Yubarta in front of the American School along the Marina Vallarta golf course.
The Hotel Zone seems to be completely under construction with the development of Peninsula and the Grand Venetian towers. In front of Peninsula, a new shopping center that will host many name brands is under construction. And the widening of both bridges to take in the lateral-lane traffic has been creating traffic backups during high season; however, once complete they will certainly make it easier to get into town. Armonia, a small development by architect Cachi Perez offering six custom homes is also being developed in the Hotel Zone, with prices starting at $270,000 USD.
On the south side of town, small boutique home and condominium projects continue to pop up, the most recent being Avalon, Rio Amapas, Eagle’s Nest, Miramar, Amapas I and a new development on the beach in front of Los Arcos for the developers of Sierra del Mar. Each project is unique and offers spectacular views of the town and bay.
As we move into 2006, it seems that it will once again be another record year for real estate. Prices are still reasonable compared to similar markets in Mexico, and the advent of mortgage financing becoming available in the country will only stimulate the market further.
http://www.mlsvallarta.com/puerto-vallarta-real-estate/moreinformation/puerto-vallarta-real-estate-articles/real-estate-news.shtml
Vallarta real estate, following strong after 2004 sales numbers doubled those of the previous year. It is difficult to give absolutely accurate numbers, since there is no reporting system for the real estate that developers have sold.
Vallarta real estate, following strong after 2004 sales numbers doubled those of the previous year. It is difficult to give absolutely accurate numbers, since there is no reporting system for the real estate that developers have sold. Most do not participate in the real estate association’s MLS system; each year, however, “Vallarta Lifestyles” talks with developers about what they sold, and in 2004 this was estimated to be $300 million USD. It is estimated that 2005 sales for both MLS and development properties exceed $500 million. This increase was driven by property value appreciation and an increasing demand for real estate in this area. More information regarding 2005 sales will be available in a future issue of the “Vallarta Real Estate Guide” and also at the Puerto Vallarta Real Estate Conference, which will be held March 22 at the Sheraton. This event will be open to the public, with a few tracks limited to local realtors only.
There continues to be new product introduced into the marketplace all around the bay. At the north end, Punta Mita has introduced oceanfront home sites on the northern side of the point, outside the bay looking towards Litibú. Prices range from $3 million USD, with only 12 available. In November, La Punta Realty introduced El Banco oceanfront lots with similar price points for 11 home sites, of which nine were sold before the end of the year. Punta Mita also introduced La Fortuna, a development of oceanfront homes and condominiums inside their gates that will also host a Deepak Chopra health spa and a shopping center on the property.
Other news at Punta de Mita is the development of a pedestrian walkway, or malecon, behind the restaurants at El Anclote. The buses and public will no longer be able to park in this area; however, a large parking lot is being built along the highway and a shuttle service will deliver people to the restaurants and beach below. The malecón will feature shops and access to the beach, restaurants and rest areas for the public.
Further down the coast, within the development of Costa Banderas, there’s talk of a village being built from scratch that would offer commercial and residential opportunities. It would be located above the long-time residential development of Punta del Burro, overlooking the bay.
The highway from La Cruz de Huanacaxtle to Punta de Mita has been under construction for some time now as the road is being widened. However, the road from Punta de Mita to Sayulita is now nearly 100% paved, with traveling time between these points now only 15 minutes. This is to make way for the new FONATUR Litibú development that will begin sales and development this year. Litibú will feature an 18-hole golf course and condominium and hotel development sites.
Monkey Mountain will begin 2006 with a new phase of homes priced from $280,000 to $350,000 USD, which will enhance their first phase of ocean view homes and lots.
Heading toward town and just behind the successful Real del Mar residential development, Grupo Real del Mar will soon be presenting a nine-hole golf course with condominiums built along its fairways, overlooking La Cruz toward Bucerias and Nuevo Vallarta. Product plans should be available in March.
Inside La Cruz, construction of a 400-slip marina will soon begin (Link). This badly needed service for the North Shore will offer a fuel dock, honey barge and slips to rent or purchase (long-term lease). A malecon with marina condominiums and commercial areas is planned for the near future.
The newest development to break ground in Bucerias is La Vida, featuring oceanfront and ocean view homes and villas with a very Mexican flair. Prices start at around $600,000 USD.
Plans for what will finally be built out on the point of Marina Vallarta, the marina entrance and next to the Westin Regina have been released. The development will be called Tres Mares and will have four 25-floor towers with six condominiums per floor. There will also be a few oceanfront homes available. The official announcement should come sometime in March/April. Also in Marina Vallarta, Lemmus Real Estate has opened a new showroom at the Royal Pacific Condominiums to showcase their many projects, such as Peninsula, Villa Magna and Vallarta Gardens. Along with viewing real estate, you can also enjoy a music lounge and sushi – what a combination! Marina Vallarta also has two new gated housing communities: Palmeiras Marina & Golf on the main entrance to the marina, and Marina Yubarta in front of the American School along the Marina Vallarta golf course.
The Hotel Zone seems to be completely under construction with the development of Peninsula and the Grand Venetian towers. In front of Peninsula, a new shopping center that will host many name brands is under construction. And the widening of both bridges to take in the lateral-lane traffic has been creating traffic backups during high season; however, once complete they will certainly make it easier to get into town. Armonia, a small development by architect Cachi Perez offering six custom homes is also being developed in the Hotel Zone, with prices starting at $270,000 USD.
On the south side of town, small boutique home and condominium projects continue to pop up, the most recent being Avalon, Rio Amapas, Eagle’s Nest, Miramar, Amapas I and a new development on the beach in front of Los Arcos for the developers of Sierra del Mar. Each project is unique and offers spectacular views of the town and bay.
As we move into 2006, it seems that it will once again be another record year for real estate. Prices are still reasonable compared to similar markets in Mexico, and the advent of mortgage financing becoming available in the country will only stimulate the market further.
http://www.mlsvallarta.com/puerto-vallarta-real-estate/moreinformation/puerto-vallarta-real-estate-articles/real-estate-news.shtml
posted by La Punta Realty at 3:24:00 PM
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