Category — Mexico

An article in Friday’s edition of the New York Times captures the essence of the real estate market in Puerto Escondido, a remote beach spot in Mexico that has managed to avoid high rises and chain stores.

But the story only touches on Puerto Escondido’s reputation as a legendary surf spot, one of the best on the Mexican coast. Board riders from all over the world make the trek to challenge the waves of Playa Zicatela, a dangerous and consistent big-wave break frequently used for international competitions.

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On Punta Mita, the peninsula north of Puerto Vallarta, Mexico, developers are seeing little indication of a slowdown in the American market.

“There is a lot of money out there,” said Maria Cintrón Magennis, chief operating officer of Casa Mexicana, co-developer of El Encanto, a luxury housing project targeting North American buyers.

El Encanto is launching its second phase ahead of schedule and expanding the offering, after unexpected pre-sales, she said. The second phase will include 22 houses on a terraced hillside overlooking the Bay of Banderas, priced between $1.2 million to $3 million (about €818,000-€2 million). The largest houses offer 7,291 square feet of interior and outdoor living space (about 677 square meters).

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