Home

Cost-of-Living:  Above the U.S. National Average

 

 

Mexico Retirement Communities

 

Puerto Viejo Skies

Mazatlan,  Mexico

 Mexican and Expatriate Retirees Come to Mazatlan, Mexico for Great Beaches, Lots of Sun, Good Food, and Now, for Puerto Viejo Skies

 
In the tropical resort of Mazatlan, Mexico (population 400,000) sits the shiny new age-restricted (55+) retirement community of Puerto Viejo Skies, a 10-story development that is set to open in November, 2009.  This community is being marketed to local and expatriate retirees and beckons to those seeking a resort-style retirement in one of Mexico's oldest resorts.  While Cancun and Ixtapa are glitzier, Mazatlan sticks to the basics of great beaches, good food, plenty of sun and now a luxurious active adult condo community.

 

Each condominium (there are a total of 38) offers 120 degrees of views of islands, ocean and city lights. Sizes range from 1,328 sq. ft to 2,074.31 sq. ft., and residences come with one bedroom, one bath (with a bonus room) or two bedrooms and two baths.  The smallest unit is priced at $263,000 USD, and the most expensive is selling for $416,000 USD, but there are many price points between these two extremes.  The builder is offering 10% off the price during the current pre-construction phase, and cash buyers will receive another 2% off.  The development is also running a summer special with some units priced at $199,000 USD.   Each home comes with a complete kitchen, a washer/dryer, granite countertops, imported ceramic tile floors, marble baths, air conditioning, 11-ft. ceilings, and each is pre-wired for cable TV, Internet and phone (which is a very good thing in Mexico).  

 

The question that always arises when expatriates consider purchasing real estate in Mexico is whether or not they can legally do it.  The answer is yes, but when the property is within 50 kilometers of the coast it is purchased through a “fideicomiso” or bank trust.  Under this arrangement, a Mexican Bank holds naked legal title to the property and the buyer as beneficiary receives all of the rights of ownership. The initial term of 50 years is renewable indefinitely, and the property may be used, improved, rented, willed or sold.

 

The concept of age-restricted retirement communities is new to Mexico, and there are only a few of them in the entire country (but more are coming).  Puerto Viejo Skies is the only one in Mazatlan and is being built by a well-known local company and a respected architect whose family has held the land in trust for the last 50 years.   Title insurance is included in the price of each condo and is provided by First American Title Insurance Company, one of the largest and oldest (1889) title companies in the world and the first U.S. company to issue title insurance policies on Mexican real estate.  Financing is also available.

 

This is a gated community and will have a clubhouse, an on-site restaurant, a rooftop terrace, a sports bar, a library, a Jacuzzi, a gym and a variety of classes and events.  Each owner will also have a private concierge, a dedicated individual to assist with restaurant reservations, housekeeping, arranging transportation and any other personal needs which may arise.  This is the first community we have seen to offer this.   HOA fees have not been set, but for the first two years of ownership, they will be paid by the builder.  From outside of Mexico, call 011 52 (669) 985 2585 or within the U.S. call (520) 844-2213 (or go to www.puertoviejoskies.com)  for more information.

  

As an active adult development, Puerto Viejo Skies will have an 80% and 20% arrangement (80% of residents must be age 55+ and 20% must be age 40+).  Children are allowed to visit but may not use the amenities except for one period each year, from December 20th thru January 7th.  

Mazatlan has seen a resurgence in recent years, and its charms are being rediscovered as larger, flashier Mexican resorts become more crowded.  There is plenty to do here besides soaking up sun and playing in the surf.  Within ten minutes of Puerto Viejo Skies residents can find a library, a hospital, museums, restaurants, an aquarium, a naval base, movies theaters and shopping, as well as banks, groceries, post offices and pharmacies (even a Sam's Club).   

Mazatlan summer temperatures average 82 degrees F., and winter temperatures average 70 degrees F.  The city receives roughly 30 inches of rain a year.

 

Such Hollywood stars as John Wayne, Liz Taylor and Frank Sinatra often spent time in Mazatlan.  It's a good bet U.S. and Canadian expatriate retirees will want to do the same.

 


Webwerxx, Inc. Copyright 2006-2013  |  Contact Us  |  Privacy Policy  |  Mission Statement  |  Legal

All rights reserved.  No part of this electronic publication may be reproduced without the express written consent of Webwerxx, Inc.   Various attempts were made to verify the accuracy of the information contained in this report, but some information may have changed since publication.   Webwerxx, Inc. cannot be held responsible for information that has changed since this publication appeared online.   We are not real estate agents.