Puerto Vallarta Continues to Shine!
Taniel Chemsian - Timothy Real Estate Group
August 29, 2015
As America's baby boomers continue to age and look forward to longer and longer life spans, they are setting their sights on retirement and making their U.S. dollars last as long as possible.
And at upwards of 16 Mexico pesos to the dollar, this becomes ever more feasible. Hence the dramatic up-tick in migration south of the border adding to an ever-growing ex-pat community.
A small fisherman's village no more, Puerto Vallarta's modern explosive growth dates back around 50 years, during the massive media hysteria and paparazzi that surrounded the scandalous extramarital affair between world famous actress Elizabeth Taylor and the then-married Richard Burton during the filming of John Houston's 1964 movie 'The Night Of The Iguana.' From that moment on, the Pacific Coast's cobblestone clad Mexican beach town was forever in the global spotlight and on the map for tourists from the United States and Canada.
Fast forward to 2015, the once sleepy town on Banderas Bay has grown to become the fifth largest city in the state of Jalisco, with a population that has seen an increase from around 16,000 in 1960 to over 255,000 in 2010, an astounding growth of over 1,500% (Based on 2010 census report). With a thriving real estate market that continues to experience year over year growth, adding more foreign residences, those numbers will likely see a large increase with the 2020 census. And it's no surprise; Puerto Vallarta has constantly been ranked at the pinnacle of "Top Destinations Worldwide" from a variety of sources. In 2010, AARP Magazine rated Puerto Vallarta as the "undisputed #1 destination for American retirees" on their 'Top 5 Best Places To Retire Abroad' list, crediting Vallarta's wonderful climate, 50,000 American retirees community and easy access to the States. This year, Kathleen Peddicord, author and publisher of Live And Invest Overseas, placed PV #2 on their 'World's Top 21 Retirement Destinations Revealed Annual Index' list for its luxury level developments, history and charm. Another highly praised 'The World's Best Places To Retire In 2015' list came from International Living, placing Mexico at #3 on their list, pointing out Puerto Vallarta's pristine beaches, established expat communities, lower health care costs, to name a few.
Read the rest at Huffington Post.
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