The Vallarta · Nayarit real estate industry has established itself as a pillar of the regional economy. Hundreds of direct and indirect jobs are generated in the destination with the building of each new development, which represents a profitable activity for all the actors involved. Even so, there are several challenges that need to be faced to keep the industry healthy and in good condition in the long term.
With this in mind, Vallarta Real Estate Guide approached three successful directors of real estate agencies in our destination (Mike de Mucha, partner of NuHome Realty Company; Manuel Flores, director of Ocean Key Properties and Jorge del Moral, general director of SI Real Estate), each one shared his vision and opinion regarding the future of the real estate industry in both Puerto Vallarta and Riviera Nayarit.
Congruent Urban Development
Originally from Mexico City, Mike de Mucha is a civil engineer graduated from ITESO Campus Guadalajara. In 2017, he formally started with NuHome Realty Company, a real estate agency whose most important area of influence is comprised of the listed properties from Nuevo Vallarta towards La Cruz de Huanacaxtle and Punta de Mita.
When asked about the challenges that exist to keep the Vallarta · Nayarit real estate industry strong, De Mucha emphasized the implementation of a consistent urban development plan: “It is about growing with discipline, planning and investment. The idea is to avoid messy development that comes with trying to show accelerated growth. The necessary infrastructure must be well thought out and built to provide support and service to all the new construction developments that are coming.”
He also gave his overview of the industry in the short term: “The strength of the United States—our main market—has been expanding and growing substantially. Because of that, we believe that the commercial activity of real estate will continue to grow throughout the season that is approaching.”
Originally from Mexico City, Manuel Flores came to our destination more than 20 years ago and, in 2011, founded Ocean Key Properties, a real estate agency whose efforts are focused on promoting the luxury properties of Riviera Nayarit.
To keep the Vallarta · Nayarit real estate industry attractive, Flores mentioned that it is necessary to improve the personal image, as well as the promotion and marketing of the destination. “Throughout the entire country, there are many real estate agents who work informally, so it is necessary to create state and/or federal laws that encourage them to become certified in order to obtain a license that requires them to operate in a professional manner, which will generate trust among all those involved.”
“In addition to this, investment in airport and road infrastructure must continue, as well as in the modernization of the transport and mobility systems. Licensing needs to be accelerated while building regulations become more simplified. In the same way, I believe that it is necessary to avoid the overvaluation of properties, and encourage renovation of dilapidated spaces that may be of interest to new investors. Technology must be present for new developments and the industry, as a whole, with bilingual devices that meet and satisfy the information needs of both visitors and potential investors. Finally, a renewed urban planning must be established to avoid irregular and/or irresponsible growth.”
Perception of Security
Originally from Guadalajara, Jalisco, Jorge del Moral is a business administrator who graduated from the Universidad Autónoma de Guadalajara. A little more than 20 years ago, he founded SI Real Estate, a real estate agency characterized by its broad portfolio representing high-level developments located in a variety of privileged areas both in and around Puerto Vallarta and Riviera Nayarit.
When asked about the current potential of Vallarta · Nayarit real estate industry, Del Moral described the attributes of the destination in a particular way: “Without a doubt, there are several aspects that have influenced this exponential growth that the region has experienced since November 2017. First of all, one of the great advantages we have in our region is security. Fortunately, the insecurity rate is very low and that contributes to more business and closing deals easier and faster.”
“One of the main challenges that exists is to satisfy the needs of all the clients who come to visit Vallarta · Nayarit and wish to acquire a property. In addition to that, partial plans must be respected so that there is not only an orderly growth, but also so that harmony between the growing population and the government is preserved.”
Finally, our experts agreed that the confidence the world’s great real estate investors have placed in our destination is reflected in the fact that prestigious and ultra-luxury brands such as One&Only, Rosewood and Auberge, among others, are developing in the region.