Puerto Vallarta Market Forecast Q & A With Timothy Real Estate Group
As a busy season in Puerto Vallarta gets underway, I sat down with Taniel Chemsian from the Timothy Real Estate Group for a quick one-on-one Q & A.
How was the Puerto Vallarta real estate market this summer? Was it busy?
We had a busy summer as our real estate market continues to see improvement. Historically summer time tends to be a bit slower as there are less foreigners in town, but the foreign buyers that do come down are generally ready to pull the trigger and move forward with their real estate purchase. That was certainly the case this year as we sold more properties this summer than the previous 4 years.
When does the high season start in Puerto Vallarta? Is it always at the same time?
Typically, November is when the Canadians and Americans start coming back to the city, with the American Thanksgiving being the first seasonal kick-off. The crowded streets and beaches this time of the year are also a pretty good indication that the high season is under way.
What are your expectations for this high season?
If this past summer is any indication of what is to come, then we are heading for a favorable busy high season this year. Million Dollar villas saw a significant sales increase in 2013, with sales between $1.5-$2.9 Million along our southern coastline. The hot price point still seems to be in the $200's, but that’s starting to go up. Well priced properties, that is to say properties priced at current market values that contain many of the characteristics that most foreign buyers are looking for, are seeing an increase in activity. If this trend continues we’ll be keeping quite busy.
Does Timothy Real Estate Group have any upcoming events for the high Season?
We have a few wonderful events lined up so far for the current season. Our 2nd annual Vallarta Real Estate Fair (VallartaRealEstateFair.com) will take place Saturday, February 15th, where attendees will be able to meet and great first hand with our Timothy Real Estate Group professionals, mortgage brokers, interior designers, insurance brokers, healthcare professionals, immigration experts and more. We’re also going to hold another House Hunters International premiere fundraiser event to support local charities. We’ll be making an announcement shortly regarding both events details.
Is Puerto Vallarta a buyers market right now?
Well, there are definitely buyers out there acquiring some incredible properties that weren’t around a few years ago. If market conditions continue at the current sales pace, we may see a similar market as the one currently in the USA.
What are you most excited about this high season?
There are a lot of things to get excited about with the start of the new season, seeing old friends and making new ones, the opening and reopening of incredible restaurants and all the social and holiday events are associated with this time of the year make Puerto Vallarta very special.
Taniel Chemsian can be reached at email@example.com, Puerto Vallarta office (322) 223-5300 ex. 106, USA/CAN Toll Free (877) 204-7730.
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