Even during the the world's tough economic times, real estate is still an attraction to many of us, and the idea of a sunny destination in a country that is surrounded by culture and diversity is as appealing now as it has ever been.
With the Canadian dollar struggling against the US our dollar continues to hold it's own with the Mexican peso.
Mexico offers so many real estate investment, retirement and lifestyle opportunites it is important that Canadians know who are the reputable developers, investment options, locations and amenities that are of particular interest to Canadians.
Canada now represents the second largest international hub for the Mexican economy. [SIIMT]
- Since 2006 Mexico now ranks as the number one international destination for Canadians [StatsCan]
- In the first six months of 2007 travel to Mexico increased by 28%
- Over the next fifteen years there will be ten thousand Canadians and Americans retiring every day [CONCANCO]
- Thirty per cent of all Canadian retirees are Canadian and that is expected to increase three fold over the next fifteen years [CONCANCO]
Real Estate Investment
- Five percent of the 7.3 million Canadian baby boomers are presently considering investing in Mexican real estate [SOFTEC]
- It is estimated that by 2011 twenty five percent of Canadians will be seriously considering investing in real estate in Mexico [SOFTEC]
- Every year close to 2,500 Canadians invest in Mexican Real Estate and this is expected to double over the next four years [CONCANCO]
Why buy Mexico Real Estate?
Mexico has become a popular location to own a second home or vacation property. Many people from around the world -- and especially the United States and Canada -- are actively buying real estate in Mexico. In recent years Mexico become an attractive place to invest. Most of us know at least one person who has recently visited Mexico or who has made a real estate investment in the country. We believe there are several reasons behind this trend:
1) The prices of Mexico properties are often favorable in comparison with other destinations. And, with more and more people discovering Mexico, many experts believe the long-term investment prospects remain attractive.
2) Mexico’s culture and services are increasingly welcoming of foreigners. While Spanish remains the primary language in Mexico it is also true that more and more people speak English, enabling Canadians to have a more comfortable experience. These days it is not uncommon to encounter a Home Depot, Starbucks, McDonald’s and other “American” brands while in Mexico. Cell phone service, Internet and Wi-Fi are also increasingly common in the more popular locations. All in all, Mexico feels more like accessible and comfortable than in the past.
3) Over 77 million people in the North America are now over 50 years old. This segment of the population is prone to seek vacation homes, retirement locations and real estate investments.even in difficult economic times . As more and more people invest in Mexico additional services are built to support this trend. As this occurs, it often makes Mexico even more appealing to new investors.
4) The long-term future of Mexico looks promising. The country itself will become stronger economically due to the Mexican governmnets' committment to tourism and investment and the opportunity for long-term real estate appreciation will once again, for most regions, become favourable.
5) Mexico's warmer climate is attractive to many Canadians. For decades many people have enjoyed vacationing in Mexico. "Purchasing" property can be a natural next step.
6) Over 1 million Americans now live full time in Mexico. Along with residents who have moved from other countries this large population has proved the safety and viability of life in Mexico.
7) Most of the popular destinations in Mexico offer an array of interesting and fun things to do. From beach life and fishing to golf and tennis most people are excited at the numerous ways one can recreate in Mexico. Those who enjoy exploring the rich history and culture of Mexico find endless opportunities to explore – each region has its own unique opportunities. And, of course, many people find that Mexico is the perfect destination for simple rest and relaxation.
8) There is growing inventory of condos, villas, homes and land plus a wide selection of resorts and developments with extensive amenities. This provides a steady supply of inventory for interested buyers and investors.
As you can see it is no surprise that Mexico continues to provide an increasingly attractive location for Canadians. Most experts believe that Mexico real estate provides an attractive opportunity for both investment and enjoyment for decades to come.