A recent interview with Jorge Castaneda, Mexico’s former foreign minister, by a Canadian newspaper points to some of the main issues which Canadians and Americans have with buying in markets such as Puerto Vallarta real estate and Ixtapa real estate, both on Mexico’s Pacific coast.
A review of the issues addressed will show that these main objections are, in most cases, not items about which buyers should be concerned, as articles in reliable Mexico real estate blogs will also show.
The Drug War
Of course, the number one objection to buying real estate and moving to Puerto Vallarta, or other parts of Mexico, is the drug-related violence which often fills headlines in North America. A couple points must be remembered about this news. One is that these events happen in fairly isolated pockets, mostly near the U.S. border. In places like Puerto Vallarta, and, indeed, in the vast majority of the country, residents – local Mexicans and expats alike – live entirely free of these conflicts.
Another point is that although there has been an increase in conflicts over the past couple of years, these increases result directly from the President’s effort to weaken the groups involved, and many reliable commentators, including established investment experts, feel that within a year or two, there will be noticeable results, i.e. a considerably lower amount of conflicts and activity in this area than before.
When many people imagine Mexico, they think of the moustached revolutionaries and bandits of old movies or similar images of a backwards country from the past. The reality of Mexico today couldn’t be much further from this image. As Jorge Castenada pointed out, Mexico has had “15 years of tremendous expansion of the middle class, of credit, of housing, and health insurance.” Besides the massive benefits for the average Mexican, expats who live in places like Puerto Vallarta see the best of this change – modern movie theaters, state-of-the-art hospitals, world class golf courses, well-designed new roads, and the like.
Mexico’s Relationship with Canada
As the Canadian dollar hovers at a high point, a growing number of Canadians are beginning to see much more value in investing in Mexico, and, as Castenada observed, “the trade/investment/tourism numbers are finally beginning to be meaningful.” The new-found wealth that the high dollar gives Canadians abroad opens up exciting, new opportunities for the average real estate buyer as much as the large-scale business investor to cash in on Mexico’s new growth.
“The tourism numbers are moving,” said Castenada, and those in the real estate industry know that so are the real estate numbers. Canadians looking out for excellent opportunities will be investing in real estate in places like Puerto Vallarta.
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