Investment in Mexico

Interesting press release on 4Hoteliers this morning:

For the second consecutive year, condominium construction has outpaced that of hotels. According to the housing consulting firm Softec Mexico, sales of tourist housing in 2007 totaled 18,000 units, an increase of 52.5% as compared to the previous year. Puerto Vallarta occupied the lead position in sales; other areas that demonstrated dynamic activity included Los Cabos, Puerto Peñasco, Acapulco, Cancún, Riviera Nayarit, and Playa del Carmen. Approximately 80% of the beachfront housing was purchased by foreigners, principally from the U.S. and Canada. Mixed-use developments including hotel and residential components are expected to multiply with Mexico’s flourishing status as a second-home and retirement market for U.S. and Canadian baby boomers. In fact, Mexico ranked at the pinnacle of the 2007 Global Retirement Index, published by International Living. Consumer confidence in buying residential property in Mexico is bolstered by the increasing availability of title insurance policies issued by U.S.-based companies. By Richard Katzman and Jane Rogers Saturday, 19th April 2008 .

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3 Responses to Investment in Mexico

  1. jonp says:

    I have recently decided to move to Mexico aswell, and can see why it is concidered the place to be when concidering retirement. I am not retiring yet, but have decided to move here to see how it is. It is a beautiful place with warm weather and cheap living expenses, which I am sure bring the North Americans here. The only thing I see people doing which I tihnk is wierd, is that many of the people will just buy without renting first and then regret it. If there is one thing I can suggest before buying in an area of Mexico is that you rent before you buy and really make sure you are not getting into something you will regret.

  2. johnlifestyles says:

    Another important thing to check out, and is often not taken into consideration, is the Home Owner’s Association. How well are they keeping up the building? Is there a good administrator? Is there a good maintenance plan and good workers? Check out the budget and the costs. Is there a replacement plan for equipment and common area amenities?

  3. jonp says:

    A very important thing for anybody to think about when moving to Mexico. Good point..

    I have recectly moved to a small town called Barra de Navidad, so in my opinion I think it is best to move into one of the smaller towns, because Mexico is boming so much, the big cities are gettin gexpensive in a way, and the small towns are just developing so they are still low prices for proprties and they will be a deloped city in a few years anyways, so why not get in on the devoping market rather than buy into somethin that is already exploded into North American resort lifestyle. Barra De Navidad real estate is just starting to boom and prices are good for everything from beautiful new luxury condos to beachfront california style homes and vacant lots, anything to suite your needs.

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