When investing in Mexico real estate, just as in any real estate market, there are many local-level location factors to consider. However, there are also large-scale location factors to consider when choosing the region, which are often unique to each property type.
When investing in land in Mexico, the following are factors you will want to take into
consideration when choosing the region:
Construction companies - Are there experienced construction companies which specialize in the kind of property you will be building? It’s also worth checking if there are companies run by Americans or with plenty of experience working with Americans and Canadians.
Cost of land – What are the going prices for land in the area? Some places that have good reputations for investment have high land prices as a result; other places which have good potential offer low land prices since investors have not yet started paying attention to lot purchases.
Cost of ready-to-use properties vs. land – In some markets, especially with recent booms in tourism, a solid supply of completed properties (usually condos) make land purchases for residential construction more costly than buying new. In other regions, savings well $100,000 USD can be found on luxury properties. An easy comparison can be made by reviewing listings here.
Nearby tourism locations – If you are investing in a currently undiscovered market, you will want to identify potential growth. One way to do so is to identify nearby tourism hubs. With Mexico’s boom in tourism in recent decades, there are places like Cancun that are virtually synonyms for beachfront vacation. There are still many, many beautiful locations within a couple of hours that remain almost entirely off the radar.
Overall tourism potential – There are also other factors involved in tourism potential, such as cruise routes, nearby international airports (which are becoming more numerous every year in Mexico), unique history or environment and any beginnings of international promotion.
Industrial growth – Of course, land investment is only about tourism. Mexico’s economy has been growing strong in other sectors as well. Investing in a region where industry is growing rapidly – especially international manufacturing – can offer excellent potential.
Large-scale development projects – Regardless of which sector shows the strongest economic growth, the beginnings of large-scale development projects for residential or commercial is a good sign. Some of Mexico’s communities have been among the top in Latin America over the past decade, and new communities continue to sprout up.
The TOP Mexico Real Estate Network; “Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!”