The weather is perfect here in Puerto Vallarta and the area. The real estate climate has slowed down, and we are seeing more price reductions every day as it appears the steep climb in prices of 2021/2022 has cut out part of the market plus the mortgage rates and cost of living has shaken consumer confidence. In the pre-construction world, we are not seeing price reductions, however we are seeing a little more flexibility with offers and payment options. Now the million-peso question is: Is this it, or will prices continue to fall?
I believe that when consumer confidence gets restored in the rest of the world, we will get back to a more normal price increase as 2021/2022 was a post pandemic surge.
If you are interested in any property, please let me know as I believe this is a good time to test the seller’s desire to sell.
The best deal at the moment is this large penthouse in the 5 de Diciembre neighborhood. Vista Bahía 2-823 is a 4,000 sqft unit with a monster view of the ocean and city. It has two floors with a dipping pool on top. It is listed at $875,000 USD, but the owners are trying very hard to sell as they have purchased a house where they currently live in. If this was in Amapas or Conchas Chinas, it would be at least $2.5 Million USD.
Find more details in the button below and contact me if you want to learn more or schedule a showing if you are in town.
Take care,
Gerard
gerard@gerardallardpv.com
+52 322 149 2045
