Why do Americans and Canadians prefer buying and investing in Real Estate in Puerto Vallarta?
It’s pretty strange to think about Puerto Vallarta, Mexico as a “worthwhile” investment for those who live naturally in the US or Canada, but that is, in fact, what’s been happening. The beauty is, that it’s not a scam or any other kind of rip-off. buying a property in Puerto Vallarta is great both short- and long-term. But, why? Here are the details.
It’s a priority destination
For all sorts of reasons, Puerto Vallarta is becoming a popular destination to purchase a property and have your dream home. There are many flight connections to its airport and people worldwide flock here to enjoy a little R & R time throughout many times of the year.
Resources and quality of life
Puerto Vallarta is a happening place. There are many tourist attractions and smaller local ones that gain a lot of respect from those who call it home. The prices of everything tend to be cheaper than in the US or Canada, and this means that it’s an excellent way for them to get more for less, financially speaking.
Then there’s the food! A popular hub for those that love to either eat or learn how to cook pretty much everything, Puerto Vallarta is a great spot for exploring all sorts of authentic Mexican or oriental cuisine!
Great for property income
Puerto Vallarta the perfect place located in the Sierra Madre mountains is popular for its capital gain. This is the same for apartments or homes, and it’s one of the large reasons that so many people have property down here, even if they only live here part of the time.
This is so well-known and profitable that many apartments are owned entirely by foreigners, especially those who live in Canada and the US. In fact, over 50% of apartments owned by Homia (a real estate agency based here in Puerto Vallarta), were sold exclusively to foreigners over the past several years!
The savings for a living add up in Puerto Vallarta, too, when looking for a place to work remotely or even live as a snowbird. This is best understood when compared to the standard US or Canadian prices. For instance, in order to enjoy a relatively nice place to live, most people would need to pay a significant amount of money per square foot. The numbers work out to be:
- New York: $1, 770 per square foot on average
- San Francisco: $1, 400 per square foot on average
- Vancouver: $1, 200 per square foot on average
In contrast, the average price per square foot in Puerto Vallarta is $225. Even to those that aren’t up on numbers, that’s a shocking difference that makes it so much more profitable to those who are looking for maximum savings while still enjoying a great quality of life. In a foreign city, nonetheless!
Regardless of what convinced you most, Puerto Vallarta is one of the best places to invest in real estate when you live in either the US or Canada. This trend is only expected to rise, too, as the cost of living continues to skyrocket in city centers.
Contact HOMIA if you would like to know more and get great deals in the real estate market in Puerto Vallarta