Puerto Vallarta Real Estate Articles

NORTH SIDE

The growth of new development in the Bay continues! There are more home and development sites for sale in the north end of the bay than even before. Major developers have completed the first stages of infrastructure. Now, smaller developers are being given the opportunity to create a diversity of residential and commercial projects. European interests are investing in the bay as well as Mexican, Canadian and American. The recent impetus of development in the north has been evident in Nuevo Vallarta and Marina Vallarta. Their nautical and golf course communities offer single-family homes and luxury condominiums, and a substantial number of restaurants and retail shops.

There are over 675 listed properties offered in the current January, 2004 MLS book. 71 are new listings for this month. The most expensive new listing is a parcel of land in Higuera Blanca for $3,689,000US. However, the most expensive parcel of land is for sale in Nayarit. The highest point within the Punta de Mita development is available for $9,980,000US and is more than 37,000 square meters. Brand new listings include multi million dollar homes $1,950,000US-$3,400,000US.

The Multi List includes re-sales, new condominiums and homes, land and commercial properties. The 675+listings do not include non-member developer properties. There are a large number of choices for the buyer in types of properties and price ranges.

Areas north of Puerto Vallarta include Marina Vallarta, Nuevo Vallarta, Mezcales, Bucerias, Cruz de Huanacaxtle, Punta del Burro, Punta Mita, Sayulita and San Pancho, Rincón de Guayabitos, La Penita de Jaltemba, San Vicente and San Blas.

Bucerias has close to 50 properties listed for sale. The majority are individual homes that range in price from $68,000US for a 4 bedroom, 118 square meter single -family home to$1,400,000UUS for a 7-bedroom estate on the beach within town.

La Cruz de Huanacaxtle lists more than 40 properties with a majority of these being individual homes ranging in price from $59,000US for a one-bedroom 2-story starter home to $995,000US for new construction on the water at Las Gaviotas. One of the largest parcels for sale and one of the last beach front properties is more than 12,000 square meters for under $2,000,000US.

The area of Flamingos, south of Bucerias has become an active area, and offers new condominiums and some residential lots. This development includes a beach club and golf course access. Flamingos as an area includes beachfront as well as development east of the main highway following the north shoreline. Condominiums can cost from $145,000US for a one bedroom, to under $300,000US for a two bedroom. Lots in a private community with fewer than 300 meters, go to $71,000US.

Marina Vallarta: Resale condominiums are offered from $120,000US for a two-bedroom garden home to $800,000US for a penthouse. MV continues to have an inventory of individual homes winding around the golf course such as a 4-bedroom residence with pool offered at $595,000US. Separate boat slips give added value to those homes within the "Iguana" neighborhoods. The top listed price for a pre-owned waterfront villa is currently $1,100,000US, with the yacht sold separately. Condominiums remain popular in the Marina with boaters and non-boaters. Re-sales run from over $100,000US to $790,000US. New, large condo buildings continue to be built. Marina Vallarta has kept new condominium developers busy.

Nuevo Vallarta offers new and resale condominiums, time-share, villas and home sites. NV boasts two golf courses and one of the few indoor shopping malls within the area. Originally developed by the government, NV covers a vast area of land bordering on the sea. The marina attracts boaters; both sail and motor, as well as golfers. In addition, there are a number of large hotels offering full meal plans and many sports activities. Condominiums began at $90,000US for a one bedroom to $600,000US for a 3-bedroom penthouse. Homes start at $185,000US.

Punta del Burro, north of La Cruz and south of Punta Mita, offers beachfront as fine as any in the bay. You walk on the white sand for quite a distance in view of the single-family homes. Current prices run from $600,000US to over 2.5million. Lots are in demand, but hard to find.

The Punta Mita/Four Seasons development is gaining international attention. On these 1,500 acres you have world-class golf, top boutique hotels, custom -designed villas, and luxury condominiums. Here is where well-known celebrities and wealthy entreprenuers travel for a respite from the spotlight. Within the 1,500 acres is a 5-bedroom beach villa of over 9,500 s.f. on more than ½ acre for $3,390,000USD. Smaller tracks of land for development inside the master project run from 2.5 million to 10 million USD.

Outside the Punta Mita development, there are homes and building lots in what is called the "North Shore." This area stretches from the tip of the bay where the Pacific Ocean meets the Bay of Banderas, northeast up the coast along Highway 200 to Penita de Jaltemba, Rincon de Guayabitos, Lo de Marcos, San Pancho, and Sayulita. There are fewer condominium projects here, except near Anclote Beach. The price tag runs $130,000US or more for resales. $500,000US buys a new, luxury condominium with two bedrooms on beachfront. The long walking beaches here have attracted snowbirds wanting a break in their cold weather. There are opportunities in this north area for commercial development as the population increases.

Single Homes in the north shore run from under $100,000US to $1,950,000US for a 75-acre private gated estate hilltop. In this north end there are a number of choices for building or development sites. A 400-meter lot with utilities starts at $28,000US in Guayabitos. Larger parcels, ready for privatization and development are available for $10US-35US a square meter. Names such as Pontoquito, Higuera Blanca, El Farallon, and Paradise Cove describe communities designed for private villas in low-density neighborhoods. Listed prices of home sites can cost over $400US a square meter.

The north shore offers beachfront or ocean views, lower density, and a major investment of infrastructure. In addition to traditional wells, new technology with solar and desalination plants will be used to provide water to the north shore.

San Pancho (San Francisco) and Sayulita enjoy beaches favored by surfers. Palapa restaurants along the sandy beaches attract these athletes as well as more sedentary clientele. There is a casual, laid back ambiance in these communities. Schedules are more flexible, and traffic is less congested. In San Pancho, developed oceanfront home sites are offered which have underground services and a private beach club. Prices run $350,000US-$600,000USD for beachfront. An average listed price for these lots is less than $200USD a square meter.

The value of inventory of homes, home sites, condominiums and development tracks runs into the millions of dollars north of Puerto Vallarta. This development potential will continue to attract buyers from all over the world seeking the amenities and qualities our Bay of Banderas offers.

This article is based upon legal opinions, current practices and my personal experiences in the Puerto Vallarta-Bahia de Banderas areas. I recommend that each potential buyer or seller conduct his own due diligence and review.