It’s official: we’re living in the era of the getaway property. Once viewed as a luxury reserved for the ultra-wealthy, escape homes are on the rise as many people seek out places of respite during the pandemic. The latest findings from NAR’s 2021 “Vacation Home Counties Report” prove it: Vacation home sales grew by 16.4% in 2020, and they’re still riding the wave of growth this year.

Brock Squire
Brock Squire, broker/owner of Coldwell Banker La Costa in Puerto Vallarta, Mexico, has found himself on the front lines of the trend. This year to date, there has been a 48% increase in the number of free-standing villas compared to last year, and a 94% increase in the number of condominiums sold, he says. “Overall, the median price increased by 13% for attached homes while detached homes/villas have seen an 88% increase in median sales prices,” he noted. He credits several cultural changes with the sudden uptick in interest for Mexican vacation homes.
“It goes a little deeper than just people being able to work from home,” he theorizes. “I think it’s about people’s realization that their families and health are really important. They see our market and how much house they can get for their money, and realize that they can own a property they can visit again and again, while also being able to enjoy paradise and the fun activities unique to Puerto Vallarta.”
Squire has watched with amusement as the Puerto Vallarta real estate market has surged over the decades. He has been deeply involved in the marketing and sales of high-end properties in the Puerto Vallarta area since the mid-1980s when he first relocated to the Mexican coastal retreat with his wife, Bonnie, from Vancouver, B.C. His firm, originally known as Brock Squire y Asociados, subsequently became the first Coldwell Banker franchise in Mexico in 1998. Today, he manages three offices with over 80 agents spanning from the Bay of Banderas area, including Puerto Vallarta and the Punta Mita golfing community.
To get the inside scoop, we interviewed Squire (virtually) to ask him about the current state of Puerto Vallarta’s luxury housing market, where the hotpots and hidden gems can be found, and where he sees local Real Estate moving in the future.
Coldwell Banker Global Luxury
Brock Squire
With these improvements and changes has come a much more sophisticated level of residential offerings, which when compared to other parts of North America, are extremely well-priced.
Coldwell Banker Global Luxury
Brock Squire
In this same area, high-end condominium residences – especially those considered beachfront – have been sold mostly in pre-construction before the buildings even get built. Prices on these 2 and 3 bedroom units range from about $600,000 to $1.5 million USD and would typically be 1,500 to 2,400 square feet in size with full amenity packages included.
In the 1,700 acre Punta Mita Resort, located about 40 minutes north of the airport and characterized by the Four Seasons Punta Mita Resort Hotel, St Regis Resort Hotel and 2 amazing Jack Nicklaus Signature Golf Courses, prices are much higher. Large, beachfront Estate Villas are selling in the $12 million to $27 million range and smaller townhouse style and 3-bedroom luxury condos selling from $2 million to $5 million in a very brisk market with very little inventory currently available.

Son Reve, a gated contemporary villa set within San Pancho’s gated community of Las Olas in Riviera Nayarit, offers 120 feet of sandy beach frontage and six bedrooms. Offered at $6,500,000.

Son Reve
Coldwell Banker Global Luxury
Brock Squire
Coldwell Banker Global Luxury
Brock Squire
Coldwell Banker Global Luxury
Brock Squire
Coldwell Banker Global Luxury
Brock Squire
Coldwell Banker Global Luxury
Brock Squire
Coldwell Banker Global Luxury
Brock Squire

A four-bedroom Four Seasons Private Villa in Punta Mita recently sold.
Coldwell Banker Global Luxury
Brock Squire
Coldwell Banker Global Luxury
Brock Squire

Villa Buenos Vientos in Nuevo Vallarta, Nayarit offers five spacious bedroom suites with private views of the lush manicured gardens and lazy canal. Offered at $1,999,000.
Coldwell Banker Global Luxury
Brock Squire
Coldwell Banker Global Luxury
Brock Squire