While Mexico real estate proved to be rather resilient to the global turbulence seen over the past 4 years, pockets of areas where many expats were buying felt a stronger impact with more price reductions and, in some cases, a glut of properties being left on the market.
Just as importantly right now, though, is that experts are saying that the U.S. market is recovering. This could lead to prices picking up in these same places; in addition, with Mexico’s growing tourism and new destinations showing up on the map, it could lead to increasing values in some new areas.
Nuwire Investor recently posted the following:
Residential real estate values in the United States continued to climb in July, increasing 0.5% from the previous month, the latest index from Zillow shows.
Home values were up 1.2% year on year and 62% of the metros covered in the reports saw home values climb during the month, with only 49 of the 167 metro areas experiencing declines.
Of the 30 largest metro areas covered, the Phoenix metro area experienced the largest monthly increase, with home values rising 2.2%. Other large metro areas with notable monthly increases include the San Francisco metro up 1.2% and the Denver metro up 1%.
(read the entire article at Nuwire)
If American home values are on the rise again, it’s possible that U.S. buyers will also feel more confident to buy vacation or retirement properties in Mexico, both in established areas and in new, up-and-coming regions of the country.
One approach that buyers might consider is to invest in low-priced properties in an established region. El Cielo Residencial, an upscale gated community in Playa del Carmen is a good example; located in the middle of the region’s “Diamond Zone,†nice, comfortable condos such as Awa Condos are available for very accessible prices. There are also very unique choices like the homes of Hacienda del Rio Residential, which combine the gated community setting with close proximity to the beach and a charming colonial design.
As the U.S. market gets back on its feet, there is a good likelihood of demand increasing in this beautiful, well-located and currently low-priced community.
Similar cases could be made for numerous other communities or markets. In any case, buyers looking for good prices on excellent properties will do well to start looking southward – before everyone else does!
TOPMexicoRealEstate.com; Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely
