Luxury Properties in Puerto Vallarta and Riviera Nayarit – Part I

In both Puerto Vallarta and Riviera Nayarit, luxury developments are undergoing a significant shift on the real estate landscape. In an ever-growing region, understanding high-end purchaser behavior has become more crucial than ever. What drives decisions in a market that is constantly redefining luxury and how have expectations and preferences transformed in recent years?

To unravel these questions, the Vallarta Real Estate Guide editorial team organized an exclusive roundtable discussion with three key players in the sector, who are leading luxury projects in different stages of development: José Motta, vice president of Related Group, developer of the Thompson Vallarta hotel-residences; Kevin Roberts, managing partner of Contact Development Company, creators of Litibú Bay Club; and Alexis Silva, director of SB Realtors, a partner-developer firm for Marina Towers development. Together, they offered a clear look at the current trends in the high-end market.

THE CURRENT PROFILE OF THE HIGH-END BUYER: BEYOND PURCHASING POWER

While purchasing power continues to be a defining factor, the profile of the high-end buyer has been enriched with new layers of sophistication, market knowledge and diverse motivations.

Alexis Silva, director of SB Realtors, highlights a notable generational shift. “While the traditional luxury buyer profile is still present (often retired or semi-retired), we are seeing an increase in younger buyers in their 40s and 50s. These are active professionals, entrepreneurs or even technologists, who are looking for a second home or an investment that allows them to have a flexible lifestyle.” This observation is seconded by Kevin Roberts, managing partner of Contact Development Company, who points out that at Litibú Bay Club, they are also seeing “a younger buyer profile (i.e., in their early 40s) entering the market.”

José Motta, vice president of Related Group, adds a perspective on the Mexican buyer. “The Mexican high-end buyer is very demanding and refined. In our experience, they prefer developments with fewer units, but larger in size and/or have a minimum of three bedrooms. This guarantees that they will not share common areas with other owners or with studios or one- or two-bedrooms condo renters.” This underscores the search for exclusivity and privacy within this market segment.

In addition to their age and origin, these buyers are more informed than ever. As Roberts mentions: “Buyers are now spending more time doing due diligence and evaluating the developer’s track record and experience, which is a very good thing. Buyers are also looking at luxury real estate prices to ensure that the value proposition is in line with current market conditions.” Their knowledge of the market is in-depth, and their decisions are driven by a combination of personal use, investment and, increasingly, the pursuit of a holistic life experience.

ESSENTIAL ATTRIBUTES OF TODAY’S LUXURY PROPERTY

The high-end purchaser’s wish list has evolved beyond the basics, embracing a combination of aesthetics, functionality, service, and sustainability.

Location and Views
It is a consensus. Kevin Roberts emphasizes that buyers are looking for “prime locations facing the ocean or with elevated or unobstructed views of Banderas Bay.” Meanwhile, José Motta sums it up succinctly, “location and beachfront are paramount.”

Architectural Design and Finishes
Alexis Silva stresses that “design must be intelligent, maximizing spaces, natural light and, importantly, views. High-quality finishes, state-of-the-art appliances and integrated home automation systems are a must.” In addition, Roberts comments, there is a demand for “organic materials like parota wood, quarried stone, and polished concrete.” Motta also highlights the importance of “design and having finishes made by renowned architects and interior designers.”

Personalized Amenities & Services
The expectation is for a private resort lifestyle. Alexis Silva details: “Exclusive and complete amenities, from infinity pools with panoramic views, state-of-the-art gyms, spas, coworking areas, event rooms and personalized concierge services.” José Motta emphasizes “5-star services and amenities that include culinary excellence and world-class mixology.” Kevin Roberts adds: “Resort-quality amenities with privacy are highly valued, including beach clubs and access to golf courses.”

Privacy and Security
Tranquility is a priceless luxury. “Controlled security… privacy, security, and exclusivity, often in gated enclaves or boutique communities, is essential,” says Kevin Roberts. Alexis Silva also highlights the search for “absolute security and privacy with cutting-edge security systems and 24/7 surveillance personnel.” José Motta also emphasizes that privacy and security are essential elements.

Connectivity and Technology
Technological integration is essential. Alexis Silva mentions the need to “have high-speed Wi-Fi, intelligent systems for lighting, climate, security and entertainment control.” Kevin Roberts adds that “high-speed internet, in-residence office space, and a fully equipped business center are becoming increasingly important.”

Sustainability and Wellbeing
There is a growing awareness. Alexis Silva sees a growing interest in “properties that incorporate sustainable practices and promote a healthy lifestyle.” Kevin Roberts also highlights that buyers “increasingly expect sustainability features such as solar integration, rainwater harvesting, and energy efficiency systems.”

This was the first part of an exciting special article that explores in depth the profile, interests, and behaviors of high-end buyers in Puerto Vallarta and Riviera Nayarit. In the second installment, we will address how this buyer segment has evolved in recent years, their expectations for return on investment, the adaptation of the market to the new demands of contemporary luxury, and why our region continues to position itself as a magnet for those looking to combine lifestyle, exclusivity and added value.