Is it too risky to buy presale real estate in Puerto Vallarta?
Real estate projects in Puerto Vallarta have come to a halt as the Ministry of Environment and Natural Resources (SEMARNAT) has shut down 22 developments, resulting in the loss of jobs and investment credibility in the popular tourist destination.
The shutdowns stem from the failure of these developments to present a federal Environmental Impact Statement (MIA), a requirement that SEMARNAT has denied to various developers. This action has left more than 6 billion pesos in limbo, affecting both the local economy and the confidence of investors and buyers.
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