Vacation Period Impacts Real Estate Industry

Recently, Puerto Vallarta experienced one of its best vacation periods in the past few years. Various media outlets (including La Jornada and Milenio) pointed out that hotel bookings for the Easter vacation period were 34 percent higher than in 2016, ranking first in the nation (surpassing other popular destinations such as Cancun and Playa del Carmen).

The influx of visitors in the region also had positive effects on the real estate sector, especially on condominium vacation rentals. “The demand for real estate has been at a very good level for several months, and it was maintained during Easter. In general, there is high demand for condominiums and properties near the beach during this period. However, the number of tourists on the street and the demand for vacation properties make it difficult to show properties to those who are interested in buying,” noted Christina Larson, a real estate agent for Boardwalk Realty.

Vacation rentals in high-end developments also have been on the rise, although not as dramatically as during the first quarter of the year. According to Mariana Castellanos, Silva Brisset Realtors office and rental manager, condos such as Tres Mares and Shangri-La had an occupancy rate of over 70 percent.

“The Easter vacation period resulted in good occupancy in our vacation rental developments. Similarly, the influx of people in Marina Vallarta generated an increase in activity for our sales room, and we had good prospects.” —Mariana Castellanos, Silva Brisset Realtors office and rental manager.