Mexico
Almost 500 years on, the impact of Spanish conquistadores
can be seen in the tall, ornate churches that crown the hillsides
and plazas of Mexico's cities and whitewashed walls of haciendas.
But traces of earlier inhabitants remain in the remarkable
temples and pyramids and in the traditions of dozens of
indigenous cultures. Accompanying it all are the subtle spices
of Mexico's famous tortillas, tamales and enchiladas,
washed down with bold red wines and heady tequila but for
the most part, Mexico remains a fascinating amalgam of
antiquity and forward-looking vigour.
Mexico covers An Area of some 761,000 square miles, is divided
into 31 states and at the present time it has a population
of approximately 100 million people. The country is bordered
in the south by Guatemala and Belize and in the north by the
United States of America. It is surrounded by 4 coasts: The
Sea of Cortes, the Pacific Ocean, the Caribbean Sea and the
Gulf of Mexico. The climate is tropical with year round average
temperatures between 22 - 30°C. The average sea temperature
never falls below 23°C.
Tourism in Mexico as a whole is increasing and an average
22.3 million International visitors can only contribute to
an increased demand for property. In terms of the tourism
market, Hotel occupancy in Mexico is currently averaging 83%
and an estimated 300,000 to 500,000 Americans and Canadians
take extended holidays in excess of four months in Mexico
every year. This figure is not only rising but substantially
supplemented by long staying visitors from Europe and the
UK. A large percentage of all visitors seek accommodation
to let out on a weekly basis and this form of short term
letting reaps the highest rental yields.
Those buying property now are buying into a predicted strong
period of growth. Capital appreciation is an unknown factor
as with any new area but as a comparison, figures of up to
25% have been seen on the Caribbean side of the Yucatan Peninsula
for the last five years.
The government of Mexico highlight five main reasons why
one should consider property for sale in Mexico for investment
purposes, you should also bear these five points in mind:
-
- Mexico is located right next to the United States; it
has excellent transport links to North and South America,
Europe and Asia making it an accessible country for
tourists and retirees and a country that can forge
stronger economic ties with all of these regions over
the long term.
- Mexico has already signed free trade agreements with
more countries in the world than any other nation
to make the country massively competitive and attractive
which is already resulting in free flowing inward foreign
direct investment which makes the country's economy even
stronger.
- The Mexican government is committed to a program of economic
growth through sustainable development and improvement
which is already making Mexico a more attractive country
in which to live and invest.
- Mexico has already attracted in excess of 16,000 foreign
companies to its shores and this has created jobs and
increased the wealth of thousands of local Mexicans
which in turn has resulted in increased domestic purchasing
power.
- The tourism sector already generates around eight percent
of Mexico's GDP, it provides nine percent of all jobs
in Mexico, it generates in excess of USD 8.9 billion annually
and is Mexico's third biggest currency generating activity.
It is therefore of massive and fundamental importance
to the economy of Mexico. As a result, the Mexican government
is not only keen to further promote it, they are keen
to receive foreign investment into the tourism sector
as well.
Real estate investors considering Mexico should take great
comfort from each and every one of these facts as they highlight
the fact that Mexico is one of the safest 'emerging' countries
with a forward thinking government committed to economic growth
and that the real estate market in Mexico is growing built
on solid foundations, is affordable and is growing in appeal
with major resorts massively in demand both locally
and from overseas buyers creating a perfect environment for
price growth and rental yields.
So grab your Sombrero and have a look at what Mexico has to
offer!
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