Retirement Real Estate in Puerto Vallarta, Mexico

How would you like to have a really intelligent,primary objective of most all of the young
honest and well educated president? How about ageneration of natives is to assure all North
Harvard graduate? Well, would you believe thatAmericans a pleasant and safe visit to Paradise so
Mexico has a 12 consecutive year run of Harvardthat they'll return soon and often. Fear of a
alumni presidents? They have had a dramaticterrorist attack in Vallarta? Forget it!
effect on the Mexican economy in general andFriendliness--In 2001, a readers poll taken by
real estate values specifically.Conde Nast magazine listed Vallarta as the
Prior to the new millennium, the Institutionalfriendliest resort destination in the world. The
Revolutionary Party (PRI) or its predecessorlocals treat North Americans with dignity, respect,
revolutionary parties, had held power for over 70and as friends, family, and almost as royalty.
years in Mexico and was a member of SocialistClean Food and Water--The explosive population
International. Thanks to the PRI philosophiesgrowth has caused a complete revamping and
toward nationalization, expropriation,expanding of the city infrastructure. This includes
authoritarianism, and state control of thethe road system, power generation and
economy, Mexico held a Third World status fordistribution, and of course, water treatment and
80 years. With those philosophies, Mexico wasdistribution systems. The water is pure and safe
probably not the best place for foreigners toto drink from the tap throughout the city. All food
invest in real estate, or for that matter, anythingproducts are now available in the many new
else.modern supermarkets equal to the finest in the
The situation in Mexico changed dramatically inStates. Food for home or restaurant consumption
2000 when Vicente Fox of the National Actionis closely monitored for cleanliness and controlled
Party (PAN) first took over power for a six yearas in North America.
presidential term lasting until 2006. Prior to hisMedical care--Two new huge modern hospitals and
presidency, Fox had earned a Top Managementone smaller modern clinic in Vallarta are fully
Skills degree from the Business School of Harvardcapable of handling all emergencies as well as
University and had then worked his way up tocomplicated surgeries. Modern dental clinics are
the presidency of Coca Cola Mexico and head ofalso in Vallarta offering crowns, caps, implants, as
all Coca Cola Latin America. He was one of thewell as all the basic dental practices. All of the
few Mexican presidents to avoid a majordoctors and dentists speak English and many of
economic upheaval during office, whereasthem have had at least some professional training
previously, the Mexicans were accustomed toin the States.
devastating peso devaluations. During the tenFriends--Every North American that you see in
years that we've lived in Puerto Vallarta, Mexico,Vallarta, and they are easy to spot, is either on
the peso has held firm at about 10.8 pesos pervacation or retired, i.e., none of them have to go
US dollar.to work tomorrow! They are all open to new
Fox's term expired in 2006, when his successor,friendships and new comers are always welcome.
Felipe Calderon, also with the PAN party, won aIt's one big party with no looming pressures of
very close election. Calderon holds a Master ofthe office or the commuter drive in the morning.
Public Administration degree from the John F.Language--Because the economy in PV is based
Kennedy School of Government at Harvardon tourism, it is imperative to speak English.
University, and will serve as President of MexicoTherefore, it is estimated that at least 80% of
until 2012. He supports balanced fiscal trade, flatthe younger generation is now speaking or at
taxes, lower taxes, and free trade. His motto isleast understanding English. Communication is not a
to Drive Mexico Into the Future which representsproblem in Vallarta and there is no need to learn
privatization, liberalization, political freedom, andSpanish.
market control of the economy.Travel Time--Although Vallarta is on the same
These two Harvard graduates have taken Mexicolatitude as Hawaii, it is only two to three hours
from a Third World Country to a Newlyfrom most of the US cities. Even the highways
Industrialized Country (NIC) in a very short periodcoming down from the US are now all super
of time and are continuing to advance themodern tollroads and the drive to PV can be
economy. As an NIC, Mexico has joined the ranksmade in two days from the border.
with countries such as China, India, Brazil, Turkey,Connectivity--With high speed internet service
etc. en route to becoming First Worldavailable citywide, internet based
Industrialized Countries. Recently, Mexico hastelecommunications, and satellite TV available
changed from being a beneficiary to a fulleverywhere, you have the same contact with
contributor to the United Nations Developmentthe world that you would have anywhere in the
Program. The Mexican Bolsa, or stock market,US or Canada.
has more than tripled during the ten years thatActivities--World class deep sea fishing has been
we've lived in Vallarta. The PRI party, still holdsfor years, and will always be, a major activity in
local power in the poorest states of Mexico;Vallarta. There are now seven beautiful golf
those where the inhabitants have the leastcourses with more under construction. There are
education and are still waiting for subsidies fromhundreds of tennis courts, water activities, night
the government. However, the state of Jaliscolife galore, and too many clubs and organizations
where the capital is Guadalajara and the secondto mention. If you have nothing to do in PV, it's
largest city is Puerto Vallarta, is one of the manyonly because that's your choice!
states where the local PAN party is in power. ThisCost of Living--The cost of basic staples is about
change in power has been quite remarkable andthe same as in North America, however, housing
evident in Vallarta during the last seven years.is roughly half the cost and housing related taxes
During the past seven years, the Mexicanare a fraction of those in the States. All services
government has spent billions of dollars improvingare a half to a third of those in the US including
and upgrading the infrastructures throughout themedical and dental care because labor rates are
resort destinations. Puerto Vallarta has new waterso much lower. The cost of dining, outdoor
treatment facilities, power distribution systems,activities, etc., are pretty much in line with those
hospitals, university, upgraded airport, maritimein the States.
terminal, highway system, etc. and is beingEconomic Security--The Mexican peso, at
prepared for the next five years of growth.approximately 10.8 pesos per US dollar, has held
We have owned property here in Vallarta, locatedfirm for the past ten years. There are no
in the foot hills of the Sierra Madres overlookingdevaluation concerns at this time as the Mexican
Banderas Bay on the Pacific Ocean, for 24 yearseconomy booms.
and have made Paradise our permanent residencePolitical Security--The PAN party has ruled in
for the past ten years. During the first 15 years,Mexico since 2000 and will remain in power at
there were virtually no changes made here andleast until 2012, assuring a twelve year
the property values reflected it. However, duringconsecutive run of Mexico being governed by
the years that PAN has been in power, theHarvard graduates! Needless to say, they are
changes have been obvious and dramatic. Our villapro-US and friendly to the North.
has tripled in value and is expected to doubleInvestment--Property values have tripled during
again in the next five years as the baby boomersthe past ten years and are expected to double
discover Paradise.again during the next five years. With the
Puerto Vallarta, Mexico, the once sleepy littlebooming economy, the Mexican stock market has
Mexican fishing village located in the foothills of thealso tripled during the past ten years. There is no
Sierra Madres on Banderas Bay along the Mexicanslow down of growth in the foreseeable future.
Riviera is no longer sleepy or little. The populationHopefully, the above 15 items will provide some
has literally exploded since the filming of "Theexplanation for the booming economy and
Night of the Iguana" in 1963. Vallarta has grownexplosive growth in Vallarta. They say that the
from 2,000 inhabitants prior to 1963 to theparty's not over, that it has only just begun.
current figure of 350,000 inhabitants in 2007.The Mexican National Tourism Development
Aside from having a progressive government inFoundation (Fonatur), has designated a 30 mile
power, the following are some of the otherstretch of pristine Pacific Ocean shoreline north of
reasons accounting for this explosive growth:Vallarta as the new Riviera Nayarit, where more
Climate--Located on the same latitude as Hawaii,than five billion dollars will be invested during the
the seven month "high season" of Novembernext ten years creating 30,000 new jobs as they
through May has an average daily temperature ofbuild close to 20,000 new condos, villas, hotels,
73*F with virtually no chance of rain.etc. As the North Americans continue to flock to
Scenery--Vallarta, located in the foothills of theParadise, the infrastructure growth and future
Sierra Madres on the Banderas Bay, one of theplanning activities continue at a torrid pace.
largest and most beautiful bays in the world, is inFortunately, Mexico has been governed by US
the center of the Mexican Riviera on the Pacificfriendly Harvard graduates for the past seven
Ocean. Beautiful beaches, rocky cliffs, mountainyears and will be for at least the next five years,
sides overlooking the bay, tropical flowers andthus assuring a safe and secure real estate
wildlife, and all the sights that one would expect toinvesting environment well into the future for
find in Paradise.retiring North Americans. If you're retired or close
Safe--With tourism being the life blood of theto retirement, you ought to check out Vallarta
economy, North Americans are "off limits"before it's too late. If you're fortunate, you'll be
regarding any sort of criminal activity. Since gunsincluded in the next 100,000 gringos that migrate
are strictly prohibited in Mexico, burglaries,to Paradise!
robberies, etc., are virtually unheard of. The