The high crime rates in Mexico seem to concern those of us who live in it more than those who live abroad but who see Mexico as an attractive tourist destination or place to buy a house or apartment to spend their vacations.
A study carried out by the real estate site point2homes.com published yesterday on Bloomberg.com indicates that “activity on Google during the last 12 months reveals a particular interest in Mexican real estate, with searches by residents of United States increasing by 60% annually.
According to Point 2, the 10 most Googled countries as places to buy a vacation home were, in ascending order: Mexico, Canada, Costa Rica, Puerto Rico, Belize, Panama, Bahamas, Dominican Republic, US Virgin Islands, and Honduras.
The study shows that three Mexican cities are attracting the most attention: Puerto Vallarta, Tulum, and San Miguel de Allende. This year Cancún was left out of the top three as it was replaced by Tulum.
There is also a wide range of real estate on various Internet sites. Point2homes.com alone lists 47,341 properties, from rustic land to mansions, throughout Mexico. Most of the homes for sale in Mexico are where there are more services for foreign visitors, in states that concentrate the majority of tourists who come from abroad.
The supply by states is as follows, from highest to lowest: Quintana Roo (34,003), Baja California Sur (4,162), Baja California (2,204), Yucatán (2,271), Sonora (1,243), Jalisco (1,132), Guanajuato (891 ), Nayarit (617), Sinaloa (519), Colima (134), Nuevo León (104), Mexico City (66), Oaxaca (49), Tamaulipas (22), State of Mexico (18), Campeche (16 ), Guerrero (13), Querétaro (8), Veracruz (8), Aguascalientes (5), Coahuila (5), Morelos (5), Puebla (3), San Luis Potosí (2), Chihuahua (1) and Durango (1). No property is offered in Chiapas, Hidalgo, Tabasco, Tlaxcala and Zacatecas.
It is also striking that there is no greater real estate offer for foreigners in states that, without being the most important tourist destinations in the country, attract a good number of visitors each year, among them, CDMX, Chiapas, Morelos, Oaxaca, Puebla, Querétaro, and Veracruz.
Not all foreigners who want a vacation home are looking to have it on a beach or in a place full of tourists. Many prefer quieter destinations, less extreme climates, smaller cities, towns with colonial buildings, and many other things that exist within the vast national territory.
Foreigners who invest in Mexico to acquire a house or apartment or land on which to build a house not only stimulate the real estate market of a locality but by residing for a season in their property they become consumers of an endless number of products and services, further stimulating the local economy.
(The property featured in the article image is listed with Ryan Donner and Associates in Puerto Vallarta. The home is located in the mountains of El Tuito, 1.5 hours south of Puerto Vallarta. Learn more)
By Eduardo Ruiz-Healy – Originally published on eleconomista.com.mx
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