By Marcelo López
For those who choose to live in a luxurious tropical getaway, Punta Mita poses an unbeatable offer when it comes to lifestyle. Experienced as a laid-back paradise on earth, Punta Mita is distinguished as one of the most exclusive gated communities in Mexico. But what makes this destination a desirable #RealEstate investment? Perhaps that it has a spectacular location, just 45 minutes north of Puerto Vallarta, or maybe it's the stunning beachfront homes offering Pacific Ocean views. And how did Punta Mita perform in the Real Estate Market in 2022? What can we expect for 2023? In this article we will look at what the market is doing in Punta Mita and how it may affect you as an investor.
Did you know that the first 1-million-dollar villa to be sold in Punta Mita happened in 2004? That's almost 20 years ago. Do you know what the average cost per square meter in a condo was back then? Let's say in 2003 you were in the market for a condo and you decided to buy a 329 square meter residence in Hacienda de Mita for $837,000 USD. That means you would've paid $2,544 USD per square meter.
Do you want to know how much this investment would have grown in value per square meter as of 2023?
First, let's look at how the Punta Mita Real Estate market continues to grow strong towards 2023. Of the total 81 properties sold in 2022, 47 were new properties sold by Punta Mita's master developer | DINE.
What was the participation of the Punta Mita Properties team?
This past year, impressive results were achieved by Punta Mita Properties' experienced sales team, including Traci Main, Kristin Nason, Jorie Rizzuto and Ignacio Benitez. Their tireless efforts resulted in a remarkable 65% of all properties sales within this destination. Their dedication helped countless clients find the perfect getaway to now call home. (Refer to Exhibit A)
With regards to the resale market, the PMP team share of that market was 41% of all resale transactions in Punta Mita which indicates that between new products and resales a solid majority of all sales in the Destination were done by the Punta Mita Properties team. (Refer to Exhibit B).
Why is the Punta Mita Properties leading in sales?
The success can be attributed to the team's ability to leverage the master developer's resources, inclusive of: an experienced marketing team, strong lead generation program with a wide geographical reach, and the support of a full corporate infrastructure to best service their clients. The high participation rate by the Punta Mita Properties team is evidence of the strong relationships that the sales team has cultivated over the years with their clients, as well as their ability to find the right property for the right client.
Where are the demographics going?
As brand awareness for Punta Mita continues to expand its reach in the foreign markets, so does Punta Mita's popularity in the national market. Year-over-year the development has seen an increase in national buyers in the destination as our reputation for excellence continues to grow through targeted marketing efforts and excellent word of mouth.
2022 represented the highest number of new Mexican members to date, with 36% of all new buyers being Mexican nationals (refer to Exhibit C). These numbers indicate that Punta Mita is becoming a truly balanced and authentic Mexican destination with a demographically balanced population which makes Punta Mita both unique and attractive as it continues to offer a series of amenities & security which makes it so appealing as an option for a home at different stages in one's life.
How is the pipeline looking for 2023
The construction and design team have worked diligently over the years to create and deliver high-end quality homes, and 2023 will be no exception to this. As we enter 2023, we have Las Palmas Golf Estates as well as 7-Eight Bahia Golf Residences on the market and selling well. As you read this, the Punta Mita leadership team is in the process of developing new product that will soon be released.
Remember your hypothetical investment?
Today, the Hacienda de Mita condo that you could have purchased back in 2003 for $837,000 USD, can be listed at $3.5M USD thanks to the current conditions of the Punta Mita Real Estate Market. This means that its current value per square meter is now $10,638 USD. That's a 418% increase.
Are you ready to invest in Punta Mita? Come visit our office, our headquarters are located near the entrance of the Four Seasons Resort and you can also find us in the lobby at Four Seasons Resort Punta Mita and The St. Regis Punta Mita Resort.
Learn more about that new projects in the pipeline for 2023 and discover a little more about what is so magical about #PuntaMita to #makeityourhome.