A project for one of our staff members was to identify all of the real estate projects currently in development in and around Puerto Vallarta, find out how many units the project consists of and how many are currently available for sale. I posted earlier some of our findings. We also gathered information regarding the price ranges for each development. With this information we calculated the average price and then multiplied it by the number of units in the development to get a rough idea of what the total gross sale value would be for the development. We did this for each development and then added them up. The total? $5 Billion dollars. No matter which way you look at it, that’s a lot of money invested in new real estate currently on the market! Taking the average price in this manner probably has put this value higher than it really is, as there is usually more product at the lower end than at the higher end. If we based this on the lower end, this would come in closer to $4 Billion – still a large number.
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