{"id":444,"date":"2013-07-25T12:57:05","date_gmt":"2013-07-25T17:57:05","guid":{"rendered":"http:\/\/www.topmexicorealestate.com\/brokers\/?p=444"},"modified":"2014-08-22T11:09:21","modified_gmt":"2014-08-22T16:09:21","slug":"brokers-take-note-why-mexicans-buy-propert-to-the-u-s","status":"publish","type":"post","link":"https:\/\/www.topmexicorealestate.com\/brokers\/2013\/07\/brokers-take-note-why-mexicans-buy-propert-to-the-u-s\/","title":{"rendered":"Brokers Take Note – Why Mexicans Buy Property to the U.S.!"},"content":{"rendered":"

\"WealthyYesterday<\/a> I talked about why Americans and Canadians move to Mexico. Today, let’s look at the other side of things; why do Mexicans move to and buy real estate in the U.S.? And I’m not talking about the undocumented workers who are the focus of so much politics these days – I’m talking about Mexico’s millionaires – apparently there are about 145,000 of them.<\/p>\n

 <\/p>\n

Here’s an excerpt from an article by Dolia Estevez at Forbes:<\/p>\n

 <\/p>\n

Mexico ranked third, after Canada and China, in international purchases of U.S. residential real estate in the year through March 2013, according to the National Association of Realtors. The NAR\u2019 s 2013 Profile of International Home Buying Activity, an analysis of data gathered from realtors, reports that nearly 50% of purchases by Mexicans in the U.S. were in suburban areas and about 30% in resort areas. The vast majority, 91%, were residential purchases of detached single-family homes. The average price was $156,250 and 48% of the purchases were made with cash. California and Texas accounted for 62% of all Mexican purchases; San Diego, El Paso, Laredo, San Antonio, and Las Vegas, were Mexican buyers\u2019 preferred cities.<\/p>\n

 <\/p>\n

The United States\u2019 proximity and security are the most attractive features for Mexicans when it comes to buying residential real estate. Asked if there were other factors, Sergio Aguayo, a political scientist with the Colegio de Mexico, explained that Mexico has a large number of millionaires. According to WealthInsight, at the end of 2012, there were approximately 145,000 individuals with $1 million or more in assets, whose total combined wealth was $736 billion which equals to 43% of total individual wealth held in Mexico. Other reasons, Aguayo said, \u201care the American cultural attraction and the Mexicanization of large parts of the U.S.\u201d<\/p><\/blockquote>\n

 <\/p>\n

So, yes U.S. brokers should be paying attention to what’s going on in Mexico so they can help their clients get started in the right direction; but they should also be paying close attention to what Mexicans – wealthy and established middle-class Mexicans – are doing in the U.S.<\/p>\n

 <\/p>\n

-by Thomas Lloyd<\/em><\/p>\n

 <\/p>\n

\"My<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Yesterday I talked about why Americans and Canadians move to Mexico. Today, let’s look at the other side of things; why do Mexicans move to and buy real estate in the U.S.? 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