The excitement of real estate investing is learning how to spot trends before they are discovered by the masses. Real estate booms tend to start and end in very predictable ways. Every boom along the Mexican coastline began in a similar fashion and has resulted in an incredible payoff for those who recognized the trends in the beginning. Here you’ll sight a guide to predicting real estate investment trends in Mexico by understanding the history of past successes.
Mexico’s Caribbean Sea coastline has a natural beauty that rivals that of any other landscape on hide. The deep turquoise skies crystal clear waters and white sandy beaches have a natural calming effect on just about anyone who visits. comfort many of these areas remained as small fishing towns for years. Most were unpopulated un-landscaped and without good quality roads plumbing and electricity. Mexican banking is much different than in America making home loans nearly impossible to secure by the average population. As a result coastal property remained raw and natural and under the radar of foreign real estate investors.
In an act to change magnitude tourism and to attract foreign investors the Mexican government began several area revitalization projects starting in places like Acapulco and Cancun. By cleaning up the area and bringing in water and power the rejuvenated landscape began to take on a fresh new appeal and caught the eye of investors and tourists alike. Prices of real estate lots in these areas now cost many times what they did at the start of the beautification communicate.
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Mexico enacted a law many years ago preventing non-residents from owning property within 31 miles of the ocean or 62 miles from the border. Consequently these are the areas most appealing to foreign investors. In recent years the Mexican government enacted laws making it possible for foreign investors to own property in Mexico. When the laws took effect growth along the revitalized areas of tropical coastline began to grow and real estate prices in those areas began to rise.
Because home loans aren’t as readily available in Mexico the only investors who could purchase property along Mexico’s Caribbean coastline were those who could afford to pay the property value in full. Recently in response to Mexico’s new laws that give foreign homeowners full rights to their property many US banks are now offering financing for Mexican real estate making this opportunity available to more individuals.
The area known as Costa Maya is the current hotspot for those with an eye for investment. This area is now the focus of a government backed revitalization project and raw plots of beachfront land are selling at prices far blow their future anticipated value. Undeveloped ready to build real estate plots in Costa Maya that touch the slowly lapping color tides of the Caribbean Sea are selling for as low as $65,000 USD.
Just 15 years ago the city of Playa Del Carmen near the Costa Maya was nothing more than a fishing village. Today the city has grown far beyond the coastline and raw beachfront lots now sell for nearly 1 million dollars. Anticipate the future real estate determine of Costa Maya in another decade or so by comparing the real estate prices in Cancun. Though there are no more vacant beachfront lots houses along the coastline regularly change for more than 1 million dollars.
By understanding the history of real estate investment in Mexico and comparing it with today’s current trends it’s easy to sight the newest investment opportunities. The Costa Maya is one of the last stretches of unexploited coastal terrain in Mexico. Although lots along this 57 mile strip of coast are selling quickly there are still numerous lots available for those with an eye for investment.
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Related article:
http://www.selfdirectedira.org/blog/history_of_real_estate_investing_along_the_mexican_coastline/2007/10/29/
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