History of Real Estate in San Francisco, Nayarit & Future Prospects
Beginning with its mid-century turn from unaccessible and underdeveloped pueblito to special Presidential project, in the 1970's San Pancho's real estate started on a path to development that is only now gaining real momentum. With initial input of funds from President Echeverria's government, important infrastructure began to be developed in San Pancho, Nayarit that today accounts for certain advantages to the town, like its cobblestoned streets and fully-functioning hospital. However, besides the President's private vacation mansion, real estate development in San Pancho real estate did not take off until quite recently--accounting for its still relatively traditional and tranquil character.
As real estate prices shot up in quickly developing spots like Puerto Vallarta, Nuevo Vallarta, or Punta de Mita, for example, more foreigners or developers looking to buy property became attracted to relatively-untouched San Pancho. The rising popularity of coastal Nayarit as a destination, along with rising prices in other locations, coincided with the generation of “baby boomers” reaching retirement age. The trend that caught on as a result of these factors was a growing show of interest in purchasing and constructing property in San Pancho, Nayarit either as investment rental property, second home, or permanent residence. Thus San Pancho has in recent years developed not as a resort destination like Puerto Vallarta, but rather as an authentic Mexican town with a surprising abundance of tucked-away vacation villas and estates cropping up at its edges, as well as fine galleries and restaurants springing up to cater to the diverse population’s needs.
While San Pancho is still somewhat of a late bloomer, the increased interest and investments pouring into what is now being termed as the Riviera Nayarit region are undoubtedly going to be having a positive residual effect on San Pancho and its real estate. For one thing, more government (both local and federal) funds are being directed at the three municipalities that make up the Riviera Nayarit. For instance, with the municipality of Bahia de Banderas expected to grow exponentially each year, infrastructure and services will naturally have to be expanded to accommodate the growing number of residents and visitors in the region. Yet, the biggest financial resource for the region is still the development itself: the municipality of Bahia de Banderas (to which San Pancho belongs) is one of very few in the country able to actually generate more revenue itself than the government funding allotted to the region.
What all these factors point to is the fact that real estate values in San Pancho will only be on the rise, and the safety of any investment is with each year more steadfast. As the Riviera Nayarit's image is increasingly cultivated as a hotspot of fashion and exotic luxury, San Pancho will inevitably be benefitting from growing press and attention paid to the region--not to mention by an increase in visitors. Yet, San Pancho will remain a unique destination and therefore a unique investment--whether it be for family enjoyment or business opportunity--where hopefully a more "sustainable" type of development will occur towards the preservation of San Pancho's particular natural and cultural beauty. With the popularity of the village and limited amount of land, it is doubtful that prices will ever decline. Ask anyone in town and they will tell you they are “glad we bought when we did.” People will be saying the same thing in 5, 10, and 20 years from now!