[Cookie]

Posted in Real estate on February 11, 2010 by Kevin Brass

Everyone knew there had been a steep drop in Mexico second home sales last year. But a new study of the Puerto Vallarta coast line reveals just how far sales fell in new resort developments.

In 2010, developers along the stretch known as Costa Vallarta—including Puerto Vallarta, Punta Mita and the Riviera Nayarit—recorded sales of 315 new units, a 54 percent drop from 2008 and an 80 percent drop from 2007, according to a survey by the Vallarta Lifestyles Publishing Group.

Of the 112 developments surveyed, 43 reported no sales for 2009—zero, nada. Eighteen of the projects had been cancelled or taken off the market.


Of course, Mexico has been battered by forces of Biblical proportions that had nothing to do with the housing market. The H1N1 virus and drug-related violence were devastating blows to a market already crippled by the woes of the U.S. economy.

...snip

Translation: Mexico is once again becoming a buyer’s market, as prices return to more reasonable levels.

Link: http://www.internati...sales-drop.html