Inside Mexico talks with Vicki Cole
By Inside México Original Print Publication: March, 2008
INSIDE MÉXICO: Who are your clients and what are they buying?
VICKI COLE: The majority of our clients are Americans, then Mexicans, Europeans, Canadians, and others, in that order. Most purchase second homes or property with the intention of building after retirement.
IM: What price range is available?
VC: Lots range from $35,000 USD to $200,000 USD and homes range from $110,000 USD to $500,000 USD.
IM: What kind of amenities are they requesting: pool, gated property, ocean view?
VC: Most of our clients would love oceanfront but will settle for ocean view, walking distance to a beach, proximity to the actual town of Puerto Escondido, and perhaps a pool on property. They don’t seem to be interested in gated properties: most of our clients want to live within a regular Mexican community.
IM: What draws your clients to Puerto Escondido?
VC: Puerto Escondido has a mystique that’s hard to explain. Like a diamond in the rough, it still needs a lot of polishing, but the generous people, spectacular scenery, mountains, major waves, and the laid-back way of life make it special. It’s not for everyone, but draws a unique type of individual who can just relax and hang. It was first “discovered” by surfers who came here in the early sixties for its world class waves, and the community of foreigners slowly grew by word of mouth. The area doesn’t offer the amenities of planned resorts like Huatulco, Cancún, and Cozumel, but that’s what makes Puerto so special.
IM: Is there a strong English-speaking presence that makes your clients feel “at home”?
VC: Our clients definitely feel like they’re moving to a foreign country, and one does need to learn some Spanish to function here. There is not a strong English-speaking presence, but enough for a newcomer to feel comfortable.
IM: Is access to medical care a consideration for your clients?
VC: Most of our clients are younger -- late thirties to early forties -- and in relatively good health. Clients should consider that there is no hospital here. Puerto has only basic clinics, so air evacuation is necessary for serious medical emergencies.
IM: What other considerations should buyers take into account?
VC: Because it is still a relatively young town, we don’t have conveniences like malls, movie theaters, or boutiques, and phone and Internet service is lacking. If you need to do serious shopping, you have to drive six hours to Acapulco. Also, things happen slowly here and you need a lot of patience.
IM: What is your forecast for home prices in Puerto Escondido?
VC: We’ve been in business for six years, and prices rise every year. More and more people are discovering Puerto and purchasing property: I think word is getting out and we’re at the edge of a big real estate explosion. We’re just seeing the beginning.
IM: Is there any particular area in Puerto Escondido that you think represents a “bargain” for buyers from the US?
VC: Compared to prices in other beach resort areas of Mexico, everything in Puerto looks like a bargain.
VISTA EL FARO SUITES
$490,000 USD. 200 m2 of construction on a 600 m2 oceanfront lot - spectacular views of Marinero and Zicatela Bays. Private parking, fully furnished, jacuzzi, lap pool. The property includes two one-bedroom apts., one two-bedroom apt., and separate maid’s quarters or additional small one-bedroom unit.bargain!
$85,000 USD. The entire property includes two one-bedroom furnished apartments, and a third floor rooftop deck with good ocean view. Older neighborhood, ten minute walk to beach.