Vacation Housing Market in Mazatlan, Sinaloa, Mexico

Mazatlan >> Vacation Housing Market in Mazatlan Sinaloa

By: Rodrigo Valenzuela, Softec at Ventana Magazine Mazatlan is one of the most important cities in the state of Sinaloa due to its population, tourist life, industry, and urban infrastructure.Tourism in Mazatlan is growing. According to data from Sectur (The Secretary of Tourism), average occupancy of 5-star hotels increased roughly 20% since 2005 to an average of 69% per hotel in 2007. In addition, the inflow of tourists by air has shown positive growth: 438,000 passengers arrived in the Mazatlan airport in 2007, whereas in 2006 there were 395,000, and in 2005, 389,000 - a rise of roughly 12% from 2005 to 2007.               The second home or vacation housing market in Mazatlan has grown significantly over the last four years. For example, from 2005 to 2008, sales of condominiums valued over $100,000 went from 340,000 to 480,000 units, an increment of 40% in 4 years. Currently, there are 26 active real estate projects in Mazatlan offering new condos over $100,000. These projects are distributed in 4 main areas of the city:              1.-Sabalo Cerritos.Sabalo Cerritos is a new area of Mazatlan, triggered only 5 years ago; it is on the north coast of the city and has a wide and beautiful beach where most of the condo projects are located. In May 2009, the Riu Emerald Bay Hotel will open its doors and offer over 700 rooms, which will contribute to the consolidation of this area.             2.-Marina. This area, known as “The New Mazatlan,” has new shopping centers under construction, the Mazatlan Convention Center, and a new golf course. Many developments here offer private piers for the residents to dock their yachts and boats.             3.-Zona Dorada (Gold Zone). This is the most important resort area in the city, where the famous hotels of the El Cid chain and its golf course are located. Here, one can find most stores, restaurants, and bars in Mazatlan, making it a favorite spot among tourists.             4.-Malecon Centro (Downtown Seafront). This is the oldest part of Mazatlan, where the city center and the famous seafront are located. Its picturesque city center and lovely vistas make it one of the most attractive parts of the city. Even though there are few real estate projects in the area targeting second-home and vacation housing, they have great acceptance due to their lovely views and outstanding location.             Mazatlan is one of the most desirable locations to buy a second home in Mexico. There are low prices, lovely beaches, great weather, tranquility, security, entertainment, and advanced medical services.   * This document was prepared by SOFTEC with proprietary data. This information is obtained in a quarterly base in the 36 most important cities of Mexico. For any questions, comments and / or clarification, please contact via mail to:estudiosdemercado@softec.com.mx  www.tibesarealty.com.mx