By MARTIN ELDER, Special to the Daily Transcript
Tuesday, February 27, 2007
The demand for Mexican real estate continues to grow at the high end, leading to wider availability of mortgages and positioning Mexico as one of the fastest rising real estate destinations in Latin America. This claim was made in a recent report by leading financial and real estate experts from Credit Suisse, Mexico Mortgage Market and U.S.-based consultancy Ernst & Young.
An example of such real estate can be found at Punta Mita, a master-planned luxury resort and residential community.
“With the recent slowing down of the U.S. real estate market, savvy buyers are starting to look beyond the U.S. border for new real estate options,” said Lynne Bairstow, director of marketing and operations for Punta Mita and its developer, DINE. “Demand for real estate in Mexico and Punta Mita has increased dramatically as it becomes an ideal option for resort home ownership.”
The Four Seasons Punta Mita Private Villas, ranging in size from 6,475 to 7,995 square feet, are distinguished by private infinity edge plunge pools, gourmet kitchens and spacious covered terraces and patio areas.
Several factors have played a key role in Punta Mita‘s popularity as a top-choice real estate investment, including proximity and easy access, Mexico’s political and economic stability, and excellent real estate values.
Punta Mita is located 45 minutes northwest of Puerto Vallarta, on the Pacific Coast of Mexico. It lies at the northern tip of Banderas Bay, Mexico’s deepest natural bay and is bordered by the rugged Sierra Madre Mountains to the east. The resort and residential community covers more than 1,500 acres on a spear-shaped peninsula surrounded on three sides by white sand beaches, Pacific Ocean waters and lush tropical flora.
The surrounding area of Punta Mita and Puerto Vallarta are known for a wide range of interesting activities, including scuba diving, sailing and windsurfing, swimming with dolphins, whale watching, jeep safaris, horseback riding, cultural tours, fine dining, shopping and nightlife. Punta Mita‘s excellent infrastructure is strictly held to U.S. standards. It includes a secure water supply, an on-site medical center, fiber optic cable phone service, an ecologically sound wastewater treatment plant and other benefits.
It is currently home to The Four Seasons Punta Mita Resort, various residential homes and the Jack Nicklaus Signature Golf Course at Punta Mita, ranked World’s Best Golf Resort by readers of Conde Nast Traveler in 2006 and one of the best golf courses by Travel + Leisure Golf in 2006. The master plan of Punta Mita includes several luxury developments in the works, including the St. Regis Resort & Residences (December 2007) with a second Jack Nicklaus Signature golf course, the La Solana Resort (expected to open in 2009) and a variety of exclusive residential offerings and estate lots to complete this very privileged resort community.
“While the Los Cabos area has been an established, well-accepted and popular ownership destination for North American buyers, attention is now shifting to Punta Mita, Mexico’s newest and most exclusive luxury real estate destination,” Bairstow said. Over 95 percent of Punta Mita‘s owners are U.S. citizens.
Punta Mita Properties’ team of real estate experts can clearly explain all necessary information and paperwork for Americans and foreigners to purchase real estate in Mexico, including trust deeds title insurance, real estate taxes and financing.
Punta Mita offers a wide selection of ownership options, including full-ownership condominiums (starting at $575,000), town homes, villas and luxury beachfront estate lots (priced up to $7.2 million) at Kupuri, the destination’s newest residential community.