Mexico Real Estate
Mexico is exploding in terms of its popularity with foreign real estate investors and international tourists seeking beauty, culture, adventure and relaxation at an affordable price.
In February of 2003, the Wall Street Journal published an article about the real estate market in Mexico, stating: “War anxieties abroad, sluggish returns at home, and Mexico's recent recognition as investment-grade by all three major U.S. credit-rating agencies are behind the surge of U.S. institutional cash seeking a haven in Mexican real estate. According to industry analysts in both countries, more than $1 billion has washed into Mexico from U.S. institutional investors over the past eight months, and a lot more is on the way." Since this article was published, the growth rate of foreign investment in Mexico has increased by over 135%. This kind of investment surge can only mean one thing: Mexico is a fantastic place to buy real estate.
The biggest question facing those thinking about buying real estate or property in Mexico is not “if” they should buy real estate, but “where” they should buy it. Resort destinations such as Cancun, the Riviera Maya, Los Cabos, Puerto Vallarta and Acapulco bring in the most foreign capital. These tourist destinations attract large real estate investors, such as multinational hotel and resort consortiums. These are also great places for individual investors to buy and sell vacation rental properties such as condos, villas, timeshares and luxury beach homes. Over seven million North Americans visit Mexico each year, making the tourism economy extremely strong and lucrative for commercial investing.
Mexico has more to offer than the most popular tourist destinations. Cities such as Hermosillo, Monterrey, Loreto, Baja and Mexico City offer vibrant economies with less tourist-oriented real estate opportunities, such as apartment dwellings, retirement homes and land development for agriculture or commercial properties like shopping malls. Outside the cities, countless other beautiful towns such as Bucerias and Todos Santos are great places to retire and own or rent vacation properties.
Buying real estate in Mexico has never been easier and more lucrative for foreign investors. Foreign buyers have all the rights of Mexican nationals when owning properties, through the use of trusts called “Fideicomisos.” Because of this, many U.S. banks now offer mortgages for property purchased in Mexico and insurance companies have begun to offer title insurance as well. Contact a real estate agency in any of the Mexican cities or resort towns listed above for further details.
With millions of visitors each year, steadily appreciating property values and billions in foreign investment dollars, Mexico is truly a hotspot for real estate investments of all kinds.
