The last decade was critical to developments in Mexico’s real estate industry as there were many changes that influenced its landscape. This year 2015, major real estate trends have been seen dominating the limelight. Here’s an overview of these highly influential real estate trends that will surely affect the condition of Mexico’s real estate options.
Smaller, More Affordable Construction
The demands for condo buildings with relatively small units are at the highest this year. This makes it the ideal time for US and Canadian buyers to look for their dream retirement home as these kind of structures are more affordable. In addition, most buildings now are built with more modern and sophisticated designs, far different than the old colonial Mexican buildings. Vacation spots like Cabo San Lucas, Riviera Nayarit, Puerto Vallarta and Cancun are still destination favorites for such retirement homes and real estate investments.
More and more Americans and Canadians are investing their money in Mexico. The strong dollars have made it possible to buy real estate property and live here in Mexico in an elegant way, within your means. The decreased prices of oil have made the American dollar shoot up.
Real estate trends for 2015 see decreases in the prices of real estate properties which has a knock on effect within the industry. Prioritizing education has opened up wide opportunities and jobs for people across the country. This has greatly benefited all sectors of the economy, including that of the real estate industry. Investors have seen a beautiful outlook and can expect a fruitful return in their endeavors. If you’re planning to purchase a property in Mexico, this year 2015 or 2016, is the best year to do it.
More Restrictive Banking Qualifications
On a different note, more restrictive policies regarding loans have been adopted by most banks in Mexico this year. Foreign buyers, whose income is generated mostly outside of the country, are left few choices in ways to finance their purchased properties. The acquisition of high quality houses means that the most popular choice is to use developer financing instead.
Mexico is Still a Favorite Destination
The unparalleled beauty of Mexico continues to charm many visitors into making this country their second home. The presence of warm people, the spectacular settings and the great weather are comely factors for great living. Making the decision now to take advantage of these real estate trends in Mexico will let you experience of how life should be lived.