The stylish townhouses of Porto Fortuna have views of two golf fairways, Banderas Bay, and the twinkling lights of Puerto Vallarta in the distance. Sleek and modern, but comfortable, these townhomes all have their own pool, top-end appliances and electronics, and sumptuous baths. This development has its own beach club with its own restaurant--Sufi.
With prices starting at $750,000, this collection of condos and townhouses has views of both golf courses and some units have sea views. Built to encourage indoor-outdoor living, most units feature an abundance of outdoor terraces and balconies, some equipped with jetted soaking tubs. Even the condominiums are spacious, with around 2,600 square feet of indoor space and another 1,400 outdoors, all on one level. Homes have a combined 7,000 square feet, plus a garage that will hold a car and a golf cart.
For golf course living, a new phase of Las Palmas is in the works, with homes of three or four bedrooms starting at $1.4 million. Each home is at least 3,500 square feet, with additional outdoor living spaces and a pool. A private clubhouse with fitness center and community pool will accompany this phase.
Limited developer financing is available for some properties. For more information on these and the other home choices available in the gated Punta Mita community, see the Punta Mita Properties website.
Since this development started over a decade ago, there is an active resale market in place. The leading real estate agent handling listings in the area is La Punta Realty. I spoke to Miguel Garcia, sales and marketing director, about the state of the luxury real estate market in the region. He says activity is picking up again on the peninsula, but many buyers who got in early are disappointed that they haven’t been able to get double or triple what they paid a few years ago. “All of the early buyers got in at the Four Seasons Private Villas at around a million dollars, in some cases up to 2 million. Now everyone is looking to sell for at least double that, so a lot of properties are just sitting there.”
Some buyers are more motivated than others, of course, especially in cases where the monthly maintenance/home owners' association fees have gotten to be too much. “Inside the gate, you’re chipping in for maintaining two golf courses, an extensive water treatment system, landscaping, and the entire infrastructure. It’s a sizable hit each month.”
Garcia’s favorite listing? Casa Amore in the Ranchos Estates of Punta Mita. Situated on two acres, this estate has 11 bedrooms, a large swimming pool, wine cellar, a gourmet kitchen with a wood-fired pizza oven, and stunning ocean views. It is listed for $17 million, but is available for rentals as well.
Though the fenced and gated Punta Mita luxury development has the prestige some buyers want and the peace of mind that comes with the high security, Garcia says it’s worth looking beyond that though to compare some of the projects “outside the gate.”
“In the outside developments, you often have lower HOA fees and fewer restrictions,” says Garcia. “Plus there can be more privacy since you’re not near two hotels and a golf course.” He is especially impressed with the El Banco Estates, situated on a secluded beach just a mile down the road.
If you are looking for an true luxury vacation villa or retirement home near powdery white beaches, but with easy commercial flight access, put Punta Mita, Mexico on your list.
Story by Timothy Scott, August 2010.