San Pancho: The Vision and Development Ahead

To the north of Banderas Bay is a small beach town that stands out for its bohemian atmosphere: San Francisco, Nayarit. More popularly known as San Pancho, it is a picturesque town whose charm is manifested through its streets, its friendly people, water sports, sense of community, and various artistic activities that make it a unique destination to discover.

Despite this vibrant culture that many foreign and national investors want to be a part of, the real estate market in San Pancho has been a bit static; however, a period of transition is approaching with the idea to plan, develop, and offer a new inventory of properties.

Originally from Paris, France, Lolo Georges is an experienced real estate agent who has lived in San Pancho for 12 years. Recognized in the community for her knowledge of the real estate market in this quaint and unique destination, the Vallarta Real Estate Guide editorial team asked her about the vision for the development that is coming to this relaxed beach town.

SAN PANCHO: BEGINNINGS 

The development of San Pancho began in the 1970s, when the then president of Mexico, Luis Echeverría, assumed an increasingly important role in world affairs. One day, Echeverría visited San Pancho and found it charming, convincing himself to buy a property that he would eventually use as a vacation home. He decided that he was going to put San Pancho on the world map and tried to transform it into a self-sufficient town, by giving funds that would allow the building of a hospital, schools, fruit processing factories and a museum, as well as paved streets. However, this came to an end when Echeverría left, but the first steps had already been taken.

CURRENT REAL ESTATE MARKET

The San Pancho real estate market is currently focused on vacation rentals: “Residents have realized the high demand for this type of property from foreigners and Mexicans alike, and they know that there are very few or no options for condominium projects under development. They see this as an advantage and have opted to remodel their houses with the aim of building extra rooms that can later be used for rent”.

“At the moment, people are looking for simplicity, but living simply comes with a price.” —Lolo Georges.

AVERAGE PRICE PER SQUARE METER

“San Pancho only registers private sales occasionally, this means that the few properties located within the town that are on the market are not advertised on Flex or any website, but are basically offered directly to a buyer. Based on this, to provide concrete pricing details, we need to look at the area of the town. For example, in the vicinity of Highway 200, the average price of a square meter is 2,500 USD. In the middle part of the town, the square meter is between 3,000 and 5,000 USD and the square meter that is closest to the beach is between 8,000 and 9,000 USD.”

Lolo Gorges, sales director of SB Realtors in San Pancho.

REAL ESTATE PROJECTS AHEAD

Georges shared that San Pancho will enjoy a new stage of development with the arrival of an important internationally renowned resort, as well as other projects for locals who have the vision of adapting to the lifestyle that this charming town offers. “In the rocky area that is located to the south of the town, we will see the arrival of a high-end resort that will operate under the Marriott International brand. In the north of this place, Hacienda San Pancho has a large piece of land that soon will be used for the construction of villas facing the sea. Also, in the north end of town, La Patrona Polo Club plans to develop a project that includes 50 villas and a hotel.”

CONSIDERATIONS FOR INVESTING IN SAN PANCHO

Our real estate expert concluded our conversation by offering the main consideration that must be taken into account before buying a property in San Pancho: “It is very important to understand that in San Pancho you not only buy a house, but the lifestyle as well. This town is more than a property, it is about achieving the dream of living comfortably, amongst people who contribute to uplifting and highlighting the community in which we live”.