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The Story Of Real Estate And Home/condos For Sales In Puerto Vallarta
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Real estate as we all know is one of the fastest growing businesses of the world. A recent study has shown that more and more people across the globe are getting interested in buying property in exotic holiday destinations. Puerto Vallarta is a popular holiday destination, many tourists who are visiting the island are now looking for properties which they can buy and then put on rent. Homes and condos for sales in Puerto Vallarta can be easily browsed on popular real estate websites on the World Wide Web.
The story of Puerto Vallarta as a real estate business is an unexpected one, as it was never planned to be a resort city unlike other islands. Unlike the other resort cities of the Caribbean, Cancun and Los Cabos, the department of tourism was never involved in the planning of this city. According to real estate property owners, the city was an outcome of an assortment of different thoughts, ideas and inspirations of some individuals. These people were not only individuals hailing from Mexico but there people who came from all over the world to the island to find their little bit of paradise.
If ones goes back in history it is can be clearly seen that real estate development in Puerto Vallarta began in the ‘50s and ‘60s. Homes for sales in Puerto Vallarta were put up by small Mexican builders for Americans initially. The area which had the densest population of Americans came to be known as “Gringo Gulch”. The very famous architectural style of Puerto Vallarta came in to existence even the same span of time. The homes for sales in Puerto Vallarta in those times introduced the concept of cupola which has become so popular and famous in contemporary times. The real estate market actually came up as a small and simple market based upon the desire of Gringos. In those times there were only a couple of three star hotels but no condos for sales were available in Puerto Vallarta.
During the ‘70s, as the island gained popularity and fame it was majorly because of two of its most famous residents - Richard Burton and Elizabeth Taylor. There was a sudden demand for four- and five-star hotels. Homes for sale in Puerto Vallarta at this stage became larger and much more tasteful and chic. Small condos for sale were now available in the island cum resort city. But still these condos for sale in Puerto Vallarta were pretty small. As the city entered the phase of ‘80s, the demand for real estate increased tremendously. Larger houses and condominiums were developed and built in the island cum resort city.
As the city of Vallarta moved into the ‘90s, development and real estate activities picked up pace mostly in the areas of Marina Vallarta and Nuevo Vallarta. The construction activities mainly involved the building of homes and condos for sales in Puerto Vallarta. During this time, oceanfront property of Vallarta became expensive and also limited.
It was during the year 1994 that Mexico started to face some severe problems and issues. A lot of problems were faced by buyers, the interest rates shot up, it become next to impossible to buy credit. A lot of real estate business owners had to put an end to their business. The development of the island surely slowed down until the beginning of the next century.
Endy is an expert content writer. He is very experienced content writer. He has written many articles on Puerto Vallarta Condos for Sale.
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