Real Estate Sales Reactivated in the Destination

By Thelma Gust
Sep. 7, 2020

Leticia Araiza, president of the Puerto Vallarta Asociación de Profesionales Inmobiliarios (APIVAC) (Association of Real Estate Professionals), reported that, although at the beginning of the health contingency the local real estate market slowed by up to 50 percent, in recent months there has been a rebound in sales.

She explained that this increase applies particularly to Mexican buyers with income in dollars, who are betting on long-term investments through condominiums (mostly) and villas.

“Despite this whole situation, the outlook is good. Currently, many of the people who have the resources are preferring to invest them in a property that, in the future, is going to give them more of a guarantee,” said Araiza.

She stressed that the rental markets, commercial premises and warehouses are also registering an increase, which favors good forecasts for the coming months.

“They have been very active because rentals are moving and foreign investments they want to buy are moving. Mexicans who are in the United States are investing in Mexico because the exchange rate currently favors them a lot,” she concludes.

According to the report Situación Inmobiliaria de México (Mexican Real Estate Situation), Puerto Vallarta was one of the cities in the country with the highest demand for real estate during 2019.

“Despite this whole situation, the outlook is good. Currently, many of the people who have the resources are preferring to invest them in a property that, in the future, will give them more of a guarantee.” —Leticia Araiza, president of the Puerto Vallarta Asociación de Profesionales Inmobiliarios (APIVAC).

Real Estate Sales Reactivated in the Destination

Leticia Araiza, president of APIVAC, confirmed that this increase is due to Mexican buyers with income in dollars.