The Puerto Vallarta real estate market is set to benefit from a surge in tourism this year.
Puerto Vallarta Tourism Boom: 90% Hotel Occupancy
During the 6 month period hotel occupancy averaged almost 90% compared to approximately 73% in 2016 and 70% in 2015.
Thanks to a surge in occupancy, Puerto Vallarta is on track to welcome a record number of overseas visitors this year, reports the Puerto Vallarta Tourism Board.
Airport Arrivals Up 12%
The dramatic rise in occupancy is mirrored by a rise in international passenger arrivals to Puerto Vallarta International Airport, the main international gateway to the resort city.
International airport arrivals rose by more than 12% during the first 6 months of this year to 1,843,600.
Puerto Vallarta Real Estate Sales Also Rising
The huge rise in tourism is having a knock on effect on the property market by exposing more visitors to the charms of Puerto Vallarta, its beaches and views of the Bay of Banderas and by providing investors keen to generate a return on their investment with the confidence that the resort city is a highly attractive investment option.
During the period from 1st January to 30th April 2017, volume sales of homes in Puerto Vallarta increased 51% from 37 to 56.
Puerto Vallarta condo sales similarly rose dramatically, increasing 82% from 136 in 2016 to 248 this year, according to market statistics from the AMPI MLS system.