It's a Buyer's Market!


By Marla Hoover

Developers are offering up to 30% discount on pre-construction.

The resilient demand for primary and secondary residences in Puerto Vallarta and the outlining north and south coastal areas continues to thrive. As a result, developers are capitalizing on baby boomers retiring and bringing their dreams of ownership in Puerto Vallarta to fruition. Currently, over 8,000 units are under construction in the Puerto Vallarta region and this figure will continue to grow over the next few years as the number of retirees also continues to grow. With the rapid increase in prices over the past four years and before the sub-prime financial crisis in the U.S., a great deal of speculation occurred in the market. Thus, as developers continue to start new projects they are finding that they are competing against this speculative market. Although, this may be unfortunate for developers, this is extremely beneficial for buyers. We are experiencing stagnation in the market place where construction costs continue to rise, while new product prices remain flat and in most cases are falling. As a result, developers are offering incredible incentives and in some cases financing. Over the past year, the average price per sq/ft has been approximately $180 USD, however, we are now seeing prices as low as $130 USD a sq/ft. A brand new luxury 1,800 sq/ft condo with panoramic views of the Bay of Banderas can be purchased for as low as $250,000 USD (see Las Vistas and Alamar projects below). "It is a great time for buyers. Prices will definitely go up as construction costs continue to rise." says Miguel Fernandez, Managing Partner of the G3MEX Group. A wide spectrum of products are available, such as active adult living and health oriented communities, ocean front properties, condos offering panoramic views of the jungle, bay, and ocean, and homes ranging from $150,000 USD to multi-million dollar estates. Even taking into consideration the drop in prices in the U.S. real estate market, new construction pricing here in Mexico remains below that of the U.S.

G3MEX Group is a Real Estate Investment, Development and Broker Services company that offers full service representation and consulting on buying in Mexico. Miguel Fernandez says "We are able to realize our buyer's future now." With mortgages becoming mainstream in Mexico, 30 year fixed 80% loan to value programs are available with interest rates as low as 7.5% for qualified buyers. G3MEX has selected a few projects and re-sales that provide incredible value (see below). Many more options can be found at www.g3mex.com under the Developments and Listings tabs. Contact us at our U.S. toll free line at 1 877-688-3874 to speak to a specialist or e-mail us with your interests and contact information and we will get back to you within 24 hours. Also ask us about our fly and buy program, whereby if you buy from G3MEX Group, we will reimburse air fare and accommodations for two upon closing of your dream home.

"Realize Your Future Now! Buy or invest in Mexico for Higher Returns, Greater Value and Better Living."

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