The real estate landscape in Mexico has changed hugely over the last decade or so! The trends of 2015 are different from those that have come before, and here we have an overview of the most powerful and influential changes in the marketplace for Mexico real estate trends!
Real Estate Trends for Mexico in 2015
- Dollar is Strong and getting stronger
The American dollar is very strong right now, as oil prices are dropping. The results of this are that American buyers have a little more money to burn at the moment and, with the trend in affordable building, this means it’s the best time to buy. You will get lot more pesos for your dollars right now and will find that luxury real estate is more affordable.
- A range of smaller constructions
Condos seem to be the in thing right now for Mexico real estate trends. This is particularly the case in tourist areas where more foreigners are buying vacation homes or retirement homes. This real estate market is more affordable and the designs tend to be in a modern architectural style. These kinds of constructions are most often found in places like Puerto Vallarta, Riviera Nayarit and Cancun!
- House Prices are Still low
As far as real estate trends and investment goes, 2015 is the perfect time to be considering Mexico for a second home purchase. House prices are dropping all over and education has become a real priority for the Mexican government, which is encouraging more younger families to make the change and move to live in Mexico permanently. The result of this is a swell in opportunities and jobs which are becoming available at an increasing rate. Mexico is, because of this, a great investment for all kinds of businesses.
- Borrowing Trends for 2015 in Mexico
The Mexican Bank system has recently begun an overhaul of its systems and risk departments by tightening their guidelines. This means that the ability of individuals to use foreign income to qualify for loans and mortgages has been restricted. This is the only down side because it means it’s slightly harder to buy a home in Mexico if you don’t have the cash ready. There are some options, however, such as developer financing which tends to offer a lot of choice and a high quality end product.
Mexico can offer you a good lifestyle, value for money, and a warm welcome, and 2015 could be the very best year to invest in the stunning architecture, beautiful scenery and incredible weather that Mexico can offer.