Despite the financial crisis that has spread globally, there are still some high end real estate in Mexico being developed for those who can afford a $700,000 condo in a secluded part of Mexico. Punta Mita is a luxury resort community about 45 minutes north of Puerto Vallarta on the Punta de Mita peninsula. According to a press release, 27 two bedroom condominum units will be made available starting in November in the Ayia Punta Mita development with prices ranging from $700K-1.2 million. Some of the amenities offered are gourmet room service, a 200 yard swimming pool, and access to join the private golf club that features an ocean-side championship Jack Nicklaus Signature Golf Course, with a second Jack Nicklaus Signature course scheduled to open this month. In 2008 Punta Mita was voted the #1 golf resort in North America and the U.K. by readers of Conde Nast Traveler. The area also has a lot of other attractions and activities in addition to golf including whale watching and acclaimed deep sea fishing in the Bay of Banderas, shopping in Puerto Vallarta, and the nearby cultural landmark, Church of Guadalupe. Owners have the opportunity to have their property professionally managed by the vacation rental company La Tour Signature Group which wouldn't be a bad idea since there would likely be high demand for a rental at one of the premier golf courses in the world. If you could afford the expensive price tag, you can enjoy the luxurious world class resort or enjoy significant rental cash flows when you're not around. However, the global financial crisis has scared away many international investors from investing in emerging markets like Mexico and the bullish real estate development has slowed significantly. With many American's seeing a tumble in thier retirement assets, there may be fewer individuals who can afford the ultra-luxury resort properties of places like Punta Mita. On the other hand the Mexican peso has fallen nearly 40% against the dollar in recent months, so that should make it cheaper to buy Mexican real estate with US dollars. Image Source Richard Moross