One aspect which many Americans and Canadians consider when buying a Mexico condo for sale is the possibility of renting out their property while they are not using it. For this reason, it is especially good news for those buying in the Puerto Vallarta real estate market that the area has seen an especially strong high season during early 2011.
Heading into the last two months of the high season, March and April, Puerto Vallarta saw an especially strong presence of visitors, including the many retirees who rent Puerto Vallarta condos or homes during the winter, spending the summer back home.
The ongoing interest both to live part time in Puerto Vallarta (mostly retirees) and for small groups of vacationers looking to save money by renting a condo or home on a weekly basis means that the demand for vacation rentals will be strong. This is good news for anyone who plans to generate income in this way.
Food and business services have been taking advantage of the increased tourism during these months, indicating a healthy presence of tourism and long-term visitors.
While those considering longer-term rentals (i.e. seasonal) will have to consider and balance their own use of the property; those interested in vacation rentals, on the other hand, can use their condo for a week or two, while continuing to rent it out on a weekly basis for the rest of the time.
On the whole, condos as well as homes in Puerto Vallarta have proven not only to be an excellent lifestyle choice, but also a solid investment, located in one of Mexico's largest American expat communities, where a steady stream of tourists continues to bring demand and new purchasing into the market. While excellent deals can be found in pricing, the large expat community and constant flow of international tourism provide an excellent market for resales as well.
One approach which buyers have found to work well is to watch for the excellent price reductions which turn up now and then; although prices are reduced, if chosen carefully, a property can nevertheless bring a reasonable rental income. Owners who plan ahead can also buy at reduced prices and see a healthy value increase based primarily in the fact that they bought the property at a significantly reduced price.
Since Americans first started noticing the advantages of living in Puerto Vallarta back in the 50's, strong tourism has remained a firm base backing a thriving real estate market.
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Region: Playa del Carmen real estate.
Thomas Lloyd graduated from Purdue University Krannert School of Management with a degree in Management/Financial Option Investments. He has been living, investing, and working professionally in Mexico for over 15 years. A Mexican Certified Realtor he is the current president of TOPmexicorealestate, you can contact him at (512) 879-6546.
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