According to the National Association of Realtors, vacation homes and investment property purchases accounted for one-third of all real estate purchases of new and existing homes in 2007. The survey also noted that many baby boomers are returning to Mexico in droves and rediscovering places they visited when they were younger. This interest is also spurring sales of real estate in Mexico, which remain strong despite the economic downturn in the US.

The survey also noted a growing number of visitors to Mexico from Canada, Europe and Asia. In terms of real estate sales, “fly-in” destinations – those directly or easily accessible by air – were among the most popular places to purchase real estate in Mexico.

Real estate agents are aiming to reach the baby boomers, who are the healthiest and wealthiest generation to date. Owning real estate in Mexico, especially in places that cater heavily to tourists, is popular among discriminating couples who want to enjoy their retirement years.

Finding property for sale in Puerto Vallarta is not difficult, but finding property that will please both the taste and the pocketbook can be a little more complicated. Luxury property in Puerto Vallarta is available only to developers. Foreign ownership of coastal land is strictly limited, just one of many factors that will determine the appreciation of property values here.

A better strategy for finding high-value, high-potential real estate in Mexico is to look outside the city of Puerto Vallarta to the north, where tourist construction is largely absent. These coastal areas in the Nayarit state make the ideal location for prime luxury residential real estate.

If you’re interested in purchasing luxury real estate in Mexico, and are strongly considering the Puerto Vallarta area, please contact Select Mexico Properties.