The Puerto Vallarta real estate market attracts investors with bargains
Everyone is aware of the recession and the recession that has affected the entire world. Times are tough, but smart investors are always thinking about safeguarding and increasing the value of their investments. Even now, many people are interested in investing in Puerto Vallarta Real Estate, but the current situation prevents them from putting up their money. This is a common theme among the less informed section of investors. What needs to be kept in perspective is that the recession followed many years of unprecedented economic boom. And it is quite logical that the economy will recover and boom again. The good news is that the damage has been contained and the US economy is picking up again.
What this recession has done is made the housing market even more competitive and lucrative.
The economic downturn and hype about swine flu dealt a devastating blow to the Puerto Vallarta economy and real estate market. The city was deserted when the news of the swine flu spread. The subsequent panic stopped the flow of tourists and visitors. As if the US subprime crisis wasn’t enough, the H1N1 flu made Mexico a place to be shunned. In defense of Mexico, it must be said that the health scare was just that, a disproportionate scare. In a resurgent spirit so typical of Mexico, its government, industry and citizens have risen to the occasion and are trying harder than ever to improve the real estate and tourism sector once again.
The result has been that investor confidence has increased again. All market data shows that prices are 15-20% lower than the previous year. Rental rates are always low, with fabulous discounts and offers. Tourists and shoppers are once again flocking to their favorite city of Puerto Vallarta to take advantage of the fantastic weather and fabulous opportunities. Reduced buyer interest in Real Estate meant developers had to be innovative. Prices are much cheaper, more plugins are introduced. Since then, the economic recession has reduced the savings of retirees; the developers took it upon themselves to cater to people with less money to invest. Fractional condominium ownership has been introduced to attract smaller investors. Project developers are also developing less expensive units that will provide the same world-class amenities, infrastructure, and services. This, along with the old world charm of Puerto Vallarta, makes investing in Puerto Vallarta real estate a smart choice.
Go ahead and take advantage of this once-in-a-lifetime opportunity to purchase the vacation homes of your dreams in Puerto Vallarta. Puerto Vallarta calls you!