Thanks to investors like Joe McCall, Tom Wade and Rick Otton, more and more people are looking to invest in property remotely. If you’ve ever considered buying property across the Atlantic, perhaps, you may have looked into Mexico, where cost of living isn’t as high as America or Canada. That means better chances for excellent deals.
With almost two million square miles of land and 5800 miles of coastline on the Pacific, Gulf of Mexico and Caribbean coasts, the property possibilities are endless. Options range from beach side properties, city apartments and mountain retreats. Generally, the beach is the best option. Let’s take a look at the best places to buy property ocean side.
Los Cabos in Baja peninsula has been described as Mexico’s southern California. It reflects a lot of American influence. Understandably, this is not to everyone’s liking. With excellent beaches, this destination attracts a lot of wealthy travellers. This creates a very healthy rental market. Unfortunately, real estate is on the high side. Apartments sell for £77,200 and upwards.
For those looking to pay a little less, Cancun is the number one destination for International travellers to Latin America. Apart from being a great investment location, it is close to the American east coast, making it easy to get to. Prices at this location range from £45,000 for a two bed duplex just outside of town. One bedroom beach front apartments go for around £116,000. Although it seemed like prices had peaked at this location, there’s been a steady increase in property prices in recent years.
Another favourite destination is the port city of Manzanillo, located on the western coast in the state of Colima. It has one of the lowest crime rates . This makes it a favourite destination for Mexicans on holiday. It has started to attract the attention of many real estate investors. Expectedly, prices are soaring. A 3 bedroom 2 bath beach front house currently on the market costs £300,000. There are however still some good bargains to be had. Studio apartments start from £25,000and a two bedroom will cost from £62,000 upwards.
Perhaps the fastest growing destination is Puerto Vallarta. It’s set on the Pacific coast. This once quiet seaside fishing town now home to roughly 300,000 people, has now been dubbed “the place where Mexico come to life”. In the year 2000, a whopping £25,000 of resort property was sold. In 2007, 320,000 million and has been steadily rising since.
For those wanting to get a feel of the location, before making a financial commitment, there are plenty of tours that allow you to experience all the city has to offer.
It’s obvious that as far as real estate goes many people are starting to realise that Mexico has great investment opportunities. It’s best to explore the possibility, before prices skyrocket.