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Real Estate Inventory within the Bay of Banderas.
By Harriet Murray
January 17th, 2004 |
NORTH
SIDE
The growth of new development
in the Bay continues! There
are more home and development
sites for sale in the north
end of the bay than even before.
Major developers have completed
the first stages of infrastructure.
Now, smaller developers are
being given the opportunity
to create a diversity of residential
and commercial projects. European
interests are investing in
the bay as well as Mexican,
Canadian and American. The
recent impetus of development
in the north has been evident
in Nuevo Vallarta and Marina
Vallarta. Their nautical and
golf course communities offer
single-family homes and luxury
condominiums, and a substantial
number of restaurants and retail
shops.
 There are over 675 listed
properties offered in the current
January, 2004 MLS book. 71
are new listings for this month.
The most expensive new listing
is a parcel of land in Higuera
Blanca for $3,689,000US. However,
the most expensive parcel of
land is for sale in Nayarit.
The highest point within the
Punta de Mita development is
available for $9,980,000US
and is more than 37,000 square
meters. Brand new listings
include multi million dollar
homes $1,950,000US-$3,400,000US.
The Multi List includes re-sales,
new condominiums and homes,
land and commercial properties.
The 675+listings do not include
non-member developer properties.
There are a large number of
choices for the buyer in types
of properties and price ranges.
Areas
north of Puerto Vallarta
include Marina Vallarta,
Nuevo Vallarta, Mezcales,
Bucerias, Cruz de Huanacaxtle,
Punta del Burro, Punta Mita,
Sayulita and San Pancho,
Rincón
de Guayabitos, La Penita de
Jaltemba, San Vicente and San
Blas.
Bucerias has close to 50 properties
listed for sale. The majority
are individual homes that range
in price from $68,000US for
a 4 bedroom, 118 square meter
single -family home to$1,400,000UUS
for a 7-bedroom estate on the
beach within town.
La Cruz de Huanacaxtle lists
more than 40 properties with
a majority of these being individual
homes ranging in price from
$59,000US for a one-bedroom
2-story starter home to $995,000US
for new construction on the
water at Las Gaviotas. One
of the largest parcels for
sale and one of the last beach
front properties is more than
12,000 square meters for under
$2,000,000US.
The area of Flamingos, south
of Bucerias has become an active
area, and offers new condominiums
and some residential lots.
This development includes a
beach club and golf course
access. Flamingos as an area
includes beachfront as well
as development east of the
main highway following the
north shoreline. Condominiums
can cost from $145,000US for
a one bedroom, to under $300,000US
for a two bedroom. Lots in
a private community with fewer
than 300 meters, go to $71,000US.
Marina
Vallarta: Resale condominiums
are offered from $120,000US
for a two-bedroom garden home
to $800,000US for a penthouse.
MV continues to have an inventory
of individual homes winding
around the golf course such
as a 4-bedroom residence with
pool offered at $595,000US.
Separate boat slips give added
value to those homes within
the "Iguana" neighborhoods.
The top listed price for a
pre-owned waterfront villa
is currently $1,100,000US,
with the yacht sold separately.
Condominiums remain popular
in the Marina with boaters
and non-boaters. Re-sales run
from over $100,000US to $790,000US.
New, large condo buildings
continue to be built. Marina
Vallarta has kept new condominium
developers busy.
Nuevo Vallarta offers new
and resale condominiums, time-share,
villas and home sites. NV boasts
two golf courses and one of
the few indoor shopping malls
within the area. Originally
developed by the government,
NV covers a vast area of land
bordering on the sea. The marina
attracts boaters; both sail
and motor, as well as golfers.
In addition, there are a number
of large hotels offering full
meal plans and many sports
activities. Condominiums began
at $90,000US for a one bedroom
to $600,000US for a 3-bedroom
penthouse. Homes start at $185,000US.
Punta del Burro, north of
La Cruz and south of Punta
Mita, offers beachfront as
fine as any in the bay. You
walk on the white sand for
quite a distance in view of
the single-family homes. Current
prices run from $600,000US
to over 2.5million. Lots are
in demand, but hard to find.
The
Punta Mita/Four Seasons development
is gaining international
attention. On these 1,500
acres you have world-class
golf, top boutique hotels,
custom -designed villas,
and luxury condominiums.
Here is where well-known
celebrities and wealthy entreprenuers
travel for a respite from
the spotlight. Within the
1,500 acres is a 5-bedroom
beach villa of over 9,500
s.f. on more than ½ acre
for $3,390,000USD. Smaller
tracks of land for development
inside the master project run
from 2.5 million to 10 million
USD.
Outside
the Punta Mita development,
there are homes and building
lots in what is called the "North
Shore." This area stretches
from the tip of the bay where
the Pacific Ocean meets the
Bay of Banderas, northeast
up the coast along Highway
200 to Penita de Jaltemba,
Rincon de Guayabitos, Lo de
Marcos, San Pancho, and Sayulita.
There are fewer condominium
projects here, except near
Anclote Beach. The price tag
runs $130,000US or more for
resales. $500,000US buys a
new, luxury condominium with
two bedrooms on beachfront.
The long walking beaches here
have attracted snowbirds wanting
a break in their cold weather.
There are opportunities in
this north area for commercial
development as the population
increases.
Single Homes in the north
shore run from under $100,000US
to $1,950,000US for a 75-acre
private gated estate hilltop.
In this north end there are
a number of choices for building
or development sites. A 400-meter
lot with utilities starts at
$28,000US in Guayabitos. Larger
parcels, ready for privatization
and development are available
for $10US-35US a square meter.
Names such as Pontoquito, Higuera
Blanca, El Farallon, and Paradise
Cove describe communities designed
for private villas in low-density
neighborhoods. Listed prices
of home sites can cost over
$400US a square meter.
The north shore offers beachfront
or ocean views, lower density,
and a major investment of infrastructure.
In addition to traditional
wells, new technology with
solar and desalination plants
will be used to provide water
to the north shore.
San Pancho (San Francisco)
and Sayulita enjoy beaches
favored by surfers. Palapa
restaurants along the sandy
beaches attract these athletes
as well as more sedentary clientele.
There is a casual, laid back
ambiance in these communities.
Schedules are more flexible,
and traffic is less congested.
In San Pancho, developed oceanfront
home sites are offered which
have underground services and
a private beach club. Prices
run $350,000US-$600,000USD
for beachfront. An average
listed price for these lots
is less than $200USD a square
meter.
The value of inventory of
homes, home sites, condominiums
and development tracks runs
into the millions of dollars
north of Puerto Vallarta. This
development potential will
continue to attract buyers
from all over the world seeking
the amenities and qualities
our Bay of Banderas offers.
This article is based upon
legal opinions, current practices
and my personal experiences
in the Puerto Vallarta-Bahia
de Banderas areas. I recommend
that each potential buyer or
seller conduct his own due
diligence and review.
Harriet
Murray, Broker
For additional information on properties for sale or
lease within the bay, please call or e-mail me at:harriet@casasandvillas.com
Thanks and until next week.
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