The number of condominium and resort properties in Puerto Vallarta available for sale right now is staggering. Right now, there are more than 30 hotel, resort and condominium projects underway, and there are likely to be more on the way. Puerto Vallarta is a very hot market because it’s so attractive to retirees and soon-to-be retirees.

If you’re buying to live down here, you can find some wonderful deals on property in Puerto Vallarta, but before you sign on to purchase an existing property, or a brand new condominium, ask yourself about your goals. You can buy unimproved property, build a luxury home on it within the space of a few months and begin to enjoy retirement to the fullest. As you enjoy retirement, the value of your luxury home (for which you spent a fraction of what the same property would be worth in the US) will begin to escalate. You’ll get an initial bump from having built a home with an ocean view, and then your property values will also rise annually by about ten percent or perhaps more.

You could also buy an improved property in Puerto Vallarta in the form of an existing home or condominium. If your condo is under construction, you’ll need to wait until the whole building is finished (or near-finished) to move in. The view from the 20th floor will undoubtedly be spectacular, but for safety reasons, the windows may be permanently sealed. The building will depend on artificial ventilation and cooling, which will substantially increase the cost of living there. The sounds of the city will be omnipresent. In addition, as a co-owner of the building, you’ll be paying for all of the maintenance and upkeep. For the first ten years, things will probably be ok, but when major repairs hit as the result of “deferred maintenance”, will your budget be able to afford that?

A luxury condominium could run USD $300,000 or more. You could also take that same money, buy an unimproved plot of land, build a spectacular home that is energy-efficient, pleasant to live in, that suits your needs and provides invaluable peace and quiet. No noise from the city. No added heat, either. Just pure natural enjoyment.

And the best part? You’ll be able to take advantage of the full value of the property appreciation. You won’t be turning the majority of that over to the developer. You made the investment; you keep the return.

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.