Life in the Slow Lane: Bucerias is Booming!

Prior to purchasing our home in Bucerias in 2017, I spent tremendous amounts of time with iPad in hand, engrossed in investigating and familiarizing myself with the local housing inventory. I am still able to accurately advise my husband of property prices, including reductions and particular features, as we stroll past places for sale. “This one is listed for $675,000, and has two pools!”
I am least familiar though, with the condominium boom currently taking place in Bucerias, so I was excited to receive an invitation to the inauguration of the model unit at Pacifica Bucerias. Hosted by Victoria Pratt (a trusted expert, and the exclusive developer representative for Pacifica Bucerias), and her associates from Timothy Real Estate Group. Seventy-five invitees got a first glimpse of the fifty-unit development from the inside.
Along with seeing the construction progress, visitors were treated to goodies to nibble and sip on while admiring the two bedroom, two-and-a-half bathroom model – a gift for the senses with all the amenities you would expect, including terrific views.
Progress is happening everywhere around the bay. I asked Pratt what she believes is the cause of the current upswing. She explained, “Most construction in Bucerias that involved multiple level buildings happened between 2004 and 2009. The Canadian dollar was very strong and we’ve always been Canadian dominated here. In 2013, the dollar took a hit that set back expected recuperation on the North Shore, well behind that of Vallarta”.
“Since we finally turned the corner in 2016, fuelled by strong tourism and more American buyers, it (purchasing) has been intense. The developers noticed the interest in Bucerias and started to purchase land. Had we not had the slow down, we would have seen Bucerias already significantly developed. More developments are about to start marketing, though, in reality, just three are currently under construction in the Zona Dorada, which will be habitable mainly in Winter/Spring of 2019/20, so growth will be paced more slowly than perceived.”
I expressed concern about the town’s infrastructure but Pratt’s response turned my thinking around. “Every wave of concentrated development in any neighbourhood comes with the possibility that infrastructure may not be up to par, and the municipalities and authorities usually have to catch up at some point. There’s a misconception that builders, be it for single-family or multi-family structures, are responsible for infrastructure, but it’s the city that provides the services; water, drainage and sewage. Fees are collected from permits and transfer tax, meant to go towards such infrastructure and services – and, you can be sure lots of taxes are being generated from North Shore real estate activity. Respectable developers that care about our town will pressure for enhanced town infrastructure and will build modern services to tie into what the municipality should be providing.”
On another note, Pratt observed that, “most developments will have a retail element; opportunities for entrepreneurs and, with that, more employment as well as more enjoyment! I’m optimistic that we’ll see a positive outcome.”