Best Places for Luxury Real Estate in Mexico
Mexico has been confirmed as the “prime place to invest in property” in 2018, according to a survey by WIRE Consulting, a company specialized in International Real Estate services. Among the reasons mentioned for choosing Mexico were: geographical proximity, lower taxes, and a familiar environment. Now the question would be: where to buy a luxury real estate in Mexico? For that, you will find that the answers are pretty much settled down too, as a series of towns and cities have developed large expat communities and targeted real estate markets for foreigners. With some variations depending on whom you ask these cities are: Riviera Maya (from Cancun to Tulum), Puerto Vallarta & Riviera Nayarit, Cabo, Chapala’s Riviera, San Miguel de Allende, Mazatlan and Puerto Peñasco.
Let’s focus on the top-3 destinations Riviera Maya, Vallarta-Nayarit and Cabo, which happen to be all coastal towns with gorgeous beaches and plenty of golf courses. They all also offer great connectivity, outstanding medical infrastructure and they are all secure towns kept mostly away from the security issues some other parts of Mexico are dealing with. Our goal is to find the best high-end real estate developments in these 3 tropical beach towns and after a thorough review of the market here are our choices:
1. Punta Mita
This world-class development has been at the top of the market for a while now. Located in the northern end of the amazing Banderas Bay, which shares with Puerto Vallarta and a series of other towns, it has become the crown jewel of the Riviera Nayarit. This private peninsula is home to the Four Season’s and St. Regis resorts, as well as a couple of stunning Jack Nicklaus-designed golf courses. It’s a paradise of tropical vegetation, spectacular ocean views, and top-notch luxury. There is a reason why it has become a favorite destination for celebrities.If there is a downside for Punta Mita it would be that it’s already a pretty established development by now. This means that you won’t find many bargains in this market. The place is as high end as it comes, but you’ll have to pay accordingly.
2. Ciudad Mayakoba
Ciudad Mayakoba is a huge community (“Ciudad” means city) located in Playa del Carmen’s outskirts just 40 minutes from Cancun International Airport. It’s also across the street from the Mayakoba Resorts development that includes 3 of the most exclusive hotels in the whole Riviera Maya and hosts the only PGA golf tournament in Mexico. Ciudad Mayakoba will include when finished seven years from now, a golf course, an award-winning metropolitan park, state-of-the-art health center, private bilingual school, university, its own shopping center, biking paths and art house. Even though it’s a gated community, developers have designed it thinking of it more like a city. One of the main advantages of Mayakoba is that it’s still on its construction phase, which means that the market is just heating up for it and you can still find great bargains here. This will undoubtedly change once the development is completed.
Inside the community, Mayakoba offers 7 different real estate developments that cover different markets and their needs. For some, this may be a con, as it might affect its ‘high end’ branding. Definitely, Ciudad Mayakoba is not Punta Mita with its lavish luxury at every corner, but this is a more down to Earth project that has many alluring first-class features for families looking to relocate to the Caribbean.
3. Chileno Bay
Chileno Bay is a luxury gated community in Cabo with all kinds of amenities and world-class facilities. Facing one of the best beaches in the Baja Peninsula, this high-end development includes a Tom Fazio golf course, a park, and organic garden, movie theater, water park, kids’ club, restaurants, hiking trails, a Spa, a market and a couple of beach clubs. At Chileno Bay, you’ll find a diversity of properties ranging from Hacienda Villas to Ocean Estates, including Beach Casitas and Resort Residences. This is one of the up-and-coming real estate developments in Cabo and definitely one to consider before deciding on any investment in Mexico.
Tulum deserves a special mention as a destination instead of as a development because there are so many high-end developments being built or designed right now that it’s really hard to choose just one. From the popular and well-established Aldea Zama to some impressive eco-friendly projects such as Essentia, to an upcoming development with landing track for your private airplane included, Tulum has a bit of everything for everybody.
Tulum is right now at the stage Playa del Carmen was maybe 10 years ago. It’s booming and everybody is buying, which obviously results in prices going up. However, paradoxically, buying in Tulum is also buying for the future as the town is still quite underdeveloped and besides the most basic infrastructure, it still lacks most of the comforts and amenities that modern life requires. What does this mean? That if you want to visit a shopping center or even something as prosaic as a Home Depot or Sam’s Club, you’ll have to drive 50 minutes north to Playa del Carmen. Our recommendation would be to visit Tulum, get a real estate agent and ask her to take you to 3 or 4 of the most exclusive developments in the area, while also getting a feel for the town and the region in general.
5. Puerto Vallarta’s Old Town
Maybe not as ‘high end’ as gated communities such as Punta Mita or Chileno Bay, but definitely an interesting market where you can find stunning luxury condos and enjoy a great quality of life. Puerto Vallarta is a hidden gem in the Pacific Coast that’s not a secret anymore. It has one of the largest expat communities in Mexico due to its great infrastructure and authentic Mexican atmosphere. Here you won’t miss any of the comforts you enjoy back home. An outstanding dining scene, a vibrant cultural life, amazing beaches, and a strong sense of community are Puerto Vallarta’s main assets.
Old Town Vallarta is currently going through its gentrification process, where old buildings are being replaced by brand new luxury condo towers. This process is still going on, which means that it might be a good time to take a look at it because it offers the best of both worlds: the luxury of a high-end property, mixed with the slow way of life of an authentic Mexican beach town.