Puerto Vallarta, Mexico - Vacations are usually thought of as a retreat from the day to day world of business and responsibilities. But that is not always the case when traveling south of the U.S. border.
As Mexico continues to experience economic growth, with over 29 Million international arrivals raking in its healthy share of the estimated $7.6 Trillion dollars from travel and tourism (World Travel & Tourism Council - 2015 Economic Impact Report), foreign investors big and small have taken note and continue to open up their deep pockets south of the border.
In 2013, Hotel Management announced Cascade Investments' acquisition of the Four Seasons in Punta de Mita. The private investment arm for Bill Gates, ranked the richest man in the world by Forbes, purchased the ultra luxury resort located 45 minutes north of Puerto Vallarta, for an astounding $200 Million dollars, making it one of the largest investments in the region. Located in the State of Nayarit, approximately 17 kilometers (approx. 10 miles) north of Puerto Vallarta, the 1,500+ acre beachfront village is home to numerous high-end villas and a favorite low-profile destination for high-profile corporate tycoons and Hollywood celebrities, including the likes of Jodie Foster, Lady Gaga, Matt Damon, Beyoncé and Jennifer Aniston, to name a few.
But large investment firms and high rollers aren't the only ones discovering investment opportunities along the bay's 100 kilometers long coastline. With value properties ranging from the $200's USD for a two-bedroom ocean view condo, to $800,000+ USD for a 3,000+ sq ft beachfront luxury residence with a slew of amenities, buyers from all walks of life are realizing owning a vacation investment property is realistic and within their means.
While beachfront home ownership is often perceived to be attainable only by the rich, Puerto Vallarta's varying real estate has changed all that. Not only are prices in this resort town within reach for many, but a significantly lower property tax rate (around 1.2%) and a stronger USD/CAN exchange rate versus the Mexican pesos, (currently over 16) adds additional incentive and value for would be buyers, lowering the carrying cost associated with home ownership.
So when does a vacation turn into a long term business investment? When one is caught up in the splendor and enchantment of a vacation in Puerto Vallarta, Mexico!
This article was originally published on The Huffington Post. The author, Taniel Chemsian, is a real estate agent with Timothy Real Estate Group, representing some of the finest properties and developments in Puerto Vallarta, Mexico. Taniel is also an official Huffington Post blogger and a regular on HGTV's popular real estate series 'House Hunters International.' His next episode from Puerto Vallarta, titled "I Love Lucy and So Does Phil," will be airing in the U.S. on Thursday, October 8th at 10:30 pm ET/PT. For more information, visit his website, his Facebook page, or contact him at Taniel(at)TimothyRealEstateGroup.com.
Timothy Real Estate Group is a full-service real estate sales, rentals and development agency representing some of the most distinguished properties and developments across Puerto Vallarta, Bahía de Banderas and the Riviera Nayarit. For more information, visit TimothyRealEstateGroup.com.
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