Who is buying in Puerto Vallarta?
Puerto Vallarta has long been a perfect destination for retirement, vacation and every-day living. From the idyllic weather, pristine beaches and great market culture, Puerto Vallarta is an easy choice for many people. More and more however the buyer demographic is changing from the traditional people approaching retirement-age.
Puerto Vallarta home buying for investment
Increasingly, young professionals invest in Puerto Vallarta with the goal to earn rental income, for a few years before retirement. What impact does this have on the market? First, there has been a boom in high-density condo development in the popular areas of the city. Second, the availability of properties for our more traditional “golden age” demographics may be scarce. Rental- investors look at attractive “rental qualities” overlapping dramatically with retirement age “hit-list.”
Optimal qualities for rental properties
What are the keys for attractive rental selection? Well, when in doubt about rentals, check Air bnb. Now the largest “hotel brand” in the world according to an article by Forbes, 2017! On the first page 70% of the rentals mention or depict a VIEW and 50% have a lovely pool in the lead image. These aspects are even more important than location. We see this in the trend to purchase some of the new developments in Old Town Vallarta such as Loft 268, Pavilion, and Nayri, many units sacrificing view for the prime walkability of the location.
Puerto Vallarta for Retirement
While a younger demographic is moving into the home purchase market in Puerto Vallarta, we are experiencing the usual investment around retirement age. The difference here is that there has been no slow in the market, even as the heat (and humidity) of summer have crept up. The market has remained busy and all signs bode well for a fantastic close to 2017!
Will 2017 be the year that you seize your little slice of Paradise? Contact the Swanson-Larson team to make your dream a reality! Contact us, and we will be happy to set up a tour, answer any questions about the buying process or send listings tailored to your desires. Let us know how to help you own in Puerto Vallarta!