Vallarta · Nayarit: A Booming Destination
Originally from Guadalajara, Jorge Del Moral Watanabe is the general manager of SI Real Estate, a leading real estate agency distinguished by its portfolio of high-end developments located in different privileged areas of Vallarta · Nayarit, which combine quality and innovative design.
With a bachelor’s degree in Business Administration from the Universidad Autónoma de Guadalajara and a postgraduate degree from the University of Colorado Boulder, Del Moral is a sports enthusiast who enjoys jogging and biking and playing golf on any of the seven courses in the destination, as well as exploring the depths of the bay while diving. He also practices kitesurfing, an aquatic discipline he has promoted through directing the renowned Festival del Viento (Wind Festival) in Riviera Nayarit.
An Established Company in the Industry
Twenty years ago, together with his brother Enrique, Jorge Del Moral, founded SI Real Estate to comprehensively serve their clients in the Bajío area (León, Aguascalientes and San Luis Potosí), as well as in Tepic, Guadalajara, Mexico City, Puerto Vallarta and Riviera Nayarit. “Since then, we have focused on the sale of luxury condominiums in those cities. In addition, we provide legal advice to both foreigners and nationals involved in the real estate industry,” he explains.
Vallarta · Nayarit Versus Other Mexico Destinations
When asked about the current potential of Vallarta · Nayarit, Jorge Del Moral describes the attributes of the destination: “Undoubtedly, there are several aspects that have influenced the exponential growth Puerto Vallarta has experienced since November 2017. First of all, one of the great advantages we have is security. Fortunately, the crime rate is very low and that contributes to closing deals more easily.”
“Another point to consider is that, according to the World Tourism Organization, Mexico is ranked as the sixth most visited country in the world, only behind France, Spain, the United States, China and Italy. Our country received $21,333,000,000 dollars from international travelers’ expenditures during their stay. It is an unprecedented economic gain, making tourism the third largest net source of foreign exchange.”
“A third factor would be that both Americans and Canadians, our main market in the tourism and real estate industry, are coming to retire to Mexico. For example, of Canada’s 37,000,000 inhabitants, 10 percent retire each year, that is, 3,700,000 people. The same happens in the United States, with a population of 329,000,000, and each year about 32,000,000 retire. This is a great advantage for Vallarta · Nayarit.”
“At the national level, the fact that the Servicio de Administración Tributaria (SAT) (Tax Administration Service) is granting benefits and not penalties to Mexicans who bring in US dollars, or funds from any other part of the world, has contributed to investing in property in Mexico. This, combined with Donald Trump’s foreign policy, has encouraged people to choose beach destinations as an option to buy a condominium.”
“Finally, in addition to Puerto Vallarta’s air connectivity with the major cities of Mexico and the United States, the fact that the highway to Guadalajara is in its final phase of construction has piqued the interest of inhabitants of the Guadalajara Metropolitan Zone, who can finally consider Vallarta · Nayarit a real weekend destination, making it ideal to invest in a property they will use constantly.”
Challenges for the Local Real Estate Market
“One of the main challenges is to satisfy the needs of all those who come to visit Vallarta · Nayarit and wish to acquire a property. Currently, SI Real Estate is handling around 1,600 units between Marítima Playa Flamingos, Marina Residences, Península Narval, Bolongo and Península Nuevo Vallarta, among other developments, and the reality is that partial plans need to be respected so that there is not only ordered growth, but also so that harmony between the population and the government is maintained.”
Strong Real Estate Industry
“Following Mexico’s presidential elections, which were preceded by many conjectures about who would win, the world’s financial markets and national markets are calm, welcoming the fact that Andrés Manuel López Obrador is making the transition gradually and managing the whole political issue peacefully. Having this security means that investments and future plans can be carried out without major setbacks.”
“On the other hand, the fact that prestigious brands such as One&Only, Rosewood and Auberge have come to develop the region speaks to the confidence the world’s big investors have placed in our destination,” he concludes.
