An extremely well written article, in the New York Times on September 21, 2013, puts great emphasis on the growing economy and desire of foreigners to come live and work in Mexico.
Foreigners are coming from nearly everywhere to call Mexico their home! There has been a 10 percent increase in residency requests since the end of last year which means that, despite the negative media reports, people understand the true potential of Mexico and its economy.
America loves Mexico
As stated in the New York Times “Americans now make up more than three-quarters of Mexico’s roughly one million documented foreigners, up from around two-thirds in 2000, leading to a historic milestone: more Americans have been added to the population of Mexico over the past few years than Mexicans have been added to the population of the United States, according to government data in both nations.”
Mexico is now also becoming the new hot spot for retirement. Due to the low cost of living, affordable healthcare and cheaper real estate in Mexico, Americans are now ditching the idea of Florida and focusing a bit more south.
So what does this mean for those who want to invest in Mexico Real Estate?
Simply! The opportunity is here! There is a very large demand for homes in Playa del Carmen, Cancun, Tulum, Puerto Vallarta, Los Cabos, Mexico City, Queretaro and other central parts of Mexico.
Quick return on Investment – The more demand, the more new development goes up; which gives a pretty attractive opportunity for someone wanting to make a quick return on investment. Preconstruction opportunities are happening now! As an investor, buying property before completion will be well worth your purchase. Property values increase during each phase of construction all the way to completion of the final product!
Earn Good Rental Income on a vacation property – Buying real estate in popular vacation destinations can offer you a nice long term investment opportunity with rental income. Travelers continue to spend their holidays in Mexico more every year. Towns like Playa del Carmen and Cancun become nearly sold out of rentals in the end of December.
This is great news as an investor. Depending on the season you can alter you rental charge based on demand thus making a large amount of money during high points. This is a great deal for someone that wants to use their property for a portion of the year while still taking advantage of earning rental income.
Steady Rental Income – You can also consider investing in a property that will attract long term renters which will give you a more even amount of income coming in during a longer period of time.
I am confident that Mexico is a growing economy. The more foreigners that come to settle here, the more they will be contributing to the economy by being general consumers, investing real estate and opening businesses. It is very exciting to see the new potential that Mexico is proving to bring to the rest of the world.