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Unless you've been living in a cave for the past half-dozen years, you know as well as we do the attractions of Mexico for the foreign retiree. You should also know that this country is attracting more attention than any other, not only among foreign retirees, but also foreign investors…
The Great Mexican Land Rush is well on…
Mexico is the United States' closest neighbor to the south (to state the obvious), and at no other time in the long history of that relationship have the benefits of living and investing in Mexico been more apparent - or easier to take advantage of - not only for US citizens, but Canadians and Europeans too.
Mexico has it all- rich culture, perfect climate and affordable living not to mention mountains, beaches, deserts and just about everything in between. Geographically and culturally, this country is enviably diverse.
Little silver mining towns where the winding streets seem to run straight up into the clouds and $3 can fill your shopping tote to the brim with fresh fruits and vegetables from the weekly market.
Fishing villages where the boats land in the morning with the giant snapper you'll have for lunch, sautéed with garlic or simmered in a Diablo sauce that will make you call out for another ice-cold cerveza. Or simply buy the whole fish right off the boat for $2.
Beaches, mountains, deserts, forests, plains, and fertile valleys - sophisticated cities and quiet villages. Once you've made the decision to move to Mexico, you're left with the mind-boggling decision of where, specifically, to settle. It's a big country covering more than 750,000 square miles and three time zones.
For all these reasons and more, Mexico is not only one of the world's top destinations for retiring, but also one of the hottest real estate investment markets in the hemisphere.
Opportunities for Investment in Mexico
Mexico's vibrant economy and strong Peso make investing in Mexico particularly safe.
With its growing GDP, a higher level of foreign direct investment than any other Latin country, and a current political climate that is more pluralistic and open to investment than any other of the last seven decades, investing in Mexico today offers high rewards with limited risk and direct foreign investment is at an all-time high - Mexico is very well-positioned for growth.
Why Investing in Mexico Makes so Much Sense Right Now
Investing in any foreign country comes with certain risks. There's the strength of the country's currency to consider, the health of its economy, its openness to foreign investment, its relative political stability and the transparency of its laws. In many places around the world, the risks are high in nearly all these categories.
Investing in modern Mexico, however, is a different story. With its growing GDP, a higher level of foreign direct investment than any other Latin country, and a current political climate that is decidedly more pluralistic and open to investment than any other has been in the last seven decades, investing in Mexico offers high rewards with limited risk.
Expanding Global Trade Relations
Mexico shares more than a 2,000-mile border with the United States - the only country besides Canada to share a border with the US. Yet many people have strikingly outdated conceptions of Mexico. The fact is that, since the passage of the North American Free Trade Agreement (NAFTA), Mexico has been - and continues to be - a major player in Western Hemisphere and world politics and economy.
Post-NAFTA Mexico boasts an incredibly resilient economic environment. In the years NAFTA has been in effect, foreign investment has almost doubled (from $5-6 billion to $10-12 billion a year…), helping make it the seventh best performing stock market on the planet.
In February of 2003, the Wall Street Journal published an article entitled "Mexico Real Estate is a Haven for US Institutional Investors." Here's part of what it said: "War anxieties abroad, sluggish returns at home, and Mexico's recent recognition as investment-grade by all three major US credit-rating agencies are behind the surge of US institutional cash seeking a haven in Mexican real estate.
Mexico's Peso is strong and has remained so against the dollar over the last few years, buoyed in part by the significant foreign investment in Mexico and also by recent capital flight from Argentina. A strong local currency bodes well if you're considering a direct investment in Mexico. You won't have to contend with the wild swings in property pricing that you might find elsewhere.
Although the Mexican government does not offer any direct incentives to promote investment in Mexico, there are many benefits to purchasing real estate in this country. The property taxes are miniscule compared to the US and Canada, usually costing just a few hundred dollars per year. It is also very easy to be exempted from paying the capital gains tax - you just have to prove that you resided in the property for at least six months. The appreciation in many areas, especially on the coasts, can be very high, with 50% or more per annum being a realistic number. And above all, buying Mexican real estate is safe and easy…
MEXICO IS BOOMING! |
