The Real Estate Industry in Costalegre

Alejandra Alvarado shares some of her achievements as head of AMPI Costalegre, as well as the factors that make this area in southwestern Jalisco unique.

Originally from Melaque, Jalisco, Alejandra Alvarado began her real estate career in Barra de Navidad, when Coldwell Banker, the first real estate agency in the area, opened in 2005. After two years with them and having learned the ropes, she decided to go out on her own, becoming part of Realty Executives, a US franchise with more than 60 years of international operations.

Since then, Alvarado has been involved in developing, marketing and boosting the real estate industry in Costalegre, a region that includes Bahía de Navidad, Bahía de Tenacatita, Costa Careyes, Majahuas and Cabo Corrientes.

The president of AMPI Costalegre during 2015 and 2016, she commented that one of her greatest experiences as the head of this association was teamwork: “The growth we have experienced in the area is due to the work of all the associates. The fruits of this effort are now reflected in the clientele, those in the industry and, above all, in the community.”

To advance professionalism in the industry, Alvarado’s work focused on securing courses and workshops specifically relevant to the area of Costalegre:

“As president you are aware of what is happening in the country. Consistent attendance at the national meetings opened the door for us to develop courses and workshops that had to do with our region. For example, unlike in the country’s interior, where real estate transactions largely focus on the direct purchase and sale of residential properties, we in coastal areas specialize in real estate trusts, fideicomisos, since most of our clients are foreigners. Because of that difference, we did not fully benefit from the courses offered through INFONAVIT. So, we encouraged AMPI Nacional to develop content pertaining to our particular needs, and we succeeded.”

Alejandra Alvarado.

When Antonio Hánna, president of AMPI Nacional in 2015, “presented us with his plan, it involved three main points, one being the creation of the Libro Verde, a public reference providing the average price of properties. Each AMPI section was to deliver its own. In ours, although we include the prices of land, houses, villas and condominiums, we used the price of land as the basis. Then we started to map the zones, and with a general knowledge of the market we formulated the tables of values in approximately three months.”

This is a significant contribution to the industry, as only 9 of the country’s 89 sections were able to develop and complete a Libro Verde.

Because the section headed by Alvarado comprised just eight real estate companies, “our regional forum represents another achievement, since in addition to the presence of Gustavo Solares, 2016 president of AMPI Nacional, we were fortunate to have the participation of several national speakers, as well as representatives from other AMPI sections, including Guadalajara, Colima and Manzanillo.”

When we asked about Costalegre’s challenges for 2017, Alvarado was clear: “Although our area has everything required to sustain growth, I believe that the necessary steps must be taken to increase connectivity for the Manzanillo airport, where most visitors arrive, as it recently experienced a considerable reduction in flights. Another theme for this year is infrastructure. Although great strides have been made in this area, much remains to be done to finish rebuilding after the damage caused by Hurricane Patricia. However, the national investor has not failed to look favorably on the region, with two high quality developments now completed and another two being reactivated, increasing values in the region. In Costalegre we must keep our energy up, stay positive and continue working for the benefit of all.”

Since Costalegre is a small area, it could be seen as being at a disadvantage vis-a-vis Puerto Vallarta and Riviera Nayarit. However, “it still has that small town flavor. We hear constantly about tourists who arrive in Vallarta and see the current activity, a lot of traffic and tall buildings. In Costalegre, this does not happen, as we have seemingly virgin beaches and people here live at a very relaxed pace. Buyers look here because they truly want a place for rest and relaxation. Also, there’s the economic issue; the cost of living in Costalegre is lower than in Banderas Bay,” he concludes.

Realty Executives’ New Office

Last December, Realty Executives opened its new office in Puerto Vallarta at Jesús Langarica 172, Colonia 5 de Diciembre, to increase its scope and coverage of services in the Banderas Bay area.