Inaugural re-opening shows signs of tremendous economic recovery ahead.
President, Rocky Point Home Builders
As the threat and fear of the Cornavirus begins to subside, life is slowly returning back to normal as Puerto Peñasco Mayor Kiko Munro announced last month that the city is now entering Phase V of the Economic Reactivation Plan allowing for a nearly complete opening of the city with minimal restrictions.
An important aspect of the Phase V plan is that starting on August 1st, family, friends and visitors in general are welcome to come and visit Puerto Peñasco so long as they comply with all previously established protocols and security measures. This will essentially open the city to all forms of tourism and the previous requirements of being a resident or a tourist with an approved rental reservation are no longer needed or required.
Another welcomed changed is the deactivation of the sanitation filter. The sanitation filter was erected during the epidemic in order to sanitize incoming visitor’s vehicles and personal belongings. With the dismantling of the sanitation station things are beginning to feel normal again. Other highlights include opening of the sports fields, parks, plazas and public spaces and gyms but only at a 40% capacity.
The catalyst for the gradual re-opening of the economy was spurred on by Sonora Governor Claudia Pavlovich when she announced back in May that a board of scientists and researchers from the State Health Committee started the formation of the state’s Economic Reactivation Plan and will be enacting its framework for re-opening the economy and the city.
Puerto Peñasco’ s response to the virus was aggressive while impressive. There was a fear that Puerto Peñasco would be hit hard with the virus and would put a strain on the limited medical resources overwhelming the system.
The big question on everybody’s mind is will the shutdown of Peñasco have a lasting negative effect on business, real estate, tourism etc. That question was put to the test on June 16 as thousands of tourists visited Puerto Peñasco for the first time in several months as the city opened its doors to tourists for the inaugural re-opening launch. Longs lines of cars were seen at the sanitation checkpoint just outside the entrance of the city as tourist’s road-tripped down by the thousands to Puerto Peñasco. It was a great indication that business will resume back to normal and the impact on business was only temporary.
Before the pandemic struck Puerto Peñasco was having a record-setting year for tourism, real estate and the home construction market was booming. Things have cooled down as you can imagine during the lockdown but gauging the recent economic indicators the downturn only appeared to be temporary.
As you can imagine, there are no shortages of investment opportunities available in the real estate market. From large-scale land development to purchasing a couple lots and building some income properties, there is no better place to be at this moment in time that Puerto Peñasco.
Building a home is not a difficult process if you work with a reputable company. Construction costs can range from $70-$100 a sq. ft. which is about half the costs of construction in the United States. Also, prices for land are still at reasonable levels so now is the time to strike while the iron is hot as they say and take advantage of some recent limited reductions in pricing before they return to the higher normal prices.
About the author: Joseph Sanchez is president of Rocky Point Home Builders a design/build contractor specializing in custom home design, construction and engineered renovations and a real estate agent with RE/MAX Legacy. He resides here in Puerto Peñasco with his wife and three children and is originally from Chicago. For more information email him at firstname.lastname@example.org.
Lines of Cars – Longs lines of cars were seen at the sanitation checkpoint just outside the entrance of the city as tourist’s road-tripped down to Puerto Peñasco as the kick-off of the gradual re-opening of the city. (Photo courtesy of Periódico De Frente)
House photo 1 – Building a home is not a difficult process if you work with a reputable company.
House Photo 2 – Construction costs can range from $70-$100 a sq. ft. which is about half the costs of construction in the United States.