Buying Real Estate in Sayulita
Sayulita is a small town located on the coast of Nayarit, Mexico. Sayulita has been popular with foreigners for more than three decades and offers visitors a laid-back coastal lifestyle that's hard to find elsewhere in Mexico. Sayulita is just four hours from the Guadalajara airport, and one hour from Puerto Vallarta International airport, making it an easy weekend getaway destination from big cities like Los Angeles or San Francisco.
In Sayulita, as in any other market, it's good to have a realtor who will help you find the best property. Here are the top things you should know before buying real estate in Sayulita.
Here I explain 4 things you should know about Sayulita before buying real estate:
Utilities & Services in Sayulita
Sayulita's population in Sayulita is a little over 2,300 people, but during the high season from November to March, Sayulita's population is almost tripled.
In the areas close to the Downtown, you will have all the utilities, like electricity, water, and internet. If you are thinking in buy land and building far from the populated area, probably you will have to bring some services to your property and that will represent a cost for you.
If you know the appropriate people, this is not difficult. Each situation is different, but we can assist you with that.
In re-sales or pre-construction is less likely you will find this issue.
In Fact, Sayulita doesn't have big supermarkets or malls, the closest ones are in Bucerias (20 min away by car).
Process of Buying Real Estate in Mexico
There are some extra steps for foreigners to buy properties in Mexico. In México exist the "Restricted Zone", which means a kind of restricted area for foreigners who want to buy real estate, this area is within 50 kilometers (31 miles) of the coastlines.
This does not mean that you can't buy it, you have to do it through a trust (Fideicomisio in Spanish). The Trust is valid for 50 years, with renovation at the end of this period.
The Trust is 100% safe, if you have more questions about this you can check this article: Why Do You Need A Fideicomiso To Buy Property In Mexico?
Rental Market in Sayulita
In the last year according to data of Airdna.co, Sayulita has a 67% of Occupancy Rate, this is the percentage of time a property has been booked over the course of the prior year, which is calculated by dividing the total days available for rent in the last 12 months by the number of days actually rented.
Properties with no reservations are excluded. This Occupancy Rate figure represents the median over the past 12 months.
Puerto Vallarta has had an occupation of 50% in the last 12 months, and the advantage that Puerto Vallarta had in the average daily rate is not that big.
This town has a remarkable rental market, but also you will see that reflected in the real estate sell prices.
Cost of Property in Sayulita
If you want to live close to the beach, expect it will be more expensive. Sayulita is more expensive than Puerto Vallarta, but Sayulita offers a laid-back lifestyle that you can't find in other places. Sayulita also offers luxury properties with bigger spaces, which you can't find in Puerto Vallarta. Puerto Vallarta is oversaturated with condos, Sayulita's hight-prices keep the saturation low.
The average price in Sayulita for a condo is $ 353,028 USD and the average price for a house in Sayulita is $692,808 USD. In 2021 the Association of Realtors in Puerto Vallarta register 10 condos and 26 houses sold in Sayulita Area.
Sayulita is a great opportunity to invest. If you are thinking of buying a property in Sayulita, contact us to have the best real estate agent helping you through all processes. We are bilingual and will guide you with great patience.
-Your Mexico Real Estate Expert.