In recent decades there have been a lot of changes to the way that the Mexican real estate market has been trending. In order to keep you ahead of the game, so to speak, we’ve collected information on the most important and powerful trends in the 2015 Mexican real estate market.
What’s trending in Mexico’s Real Estate for 2015?
- House Prices are Still Low
2015 is a great time to be investing in Mexican real estate not just because prices are falling, but because the Mexican government is putting a huge focus on education and providing more job opportunities. This means that it’s a great place to invest in if you’re a business owner and a much better place to start a new life if you are a young family looking for a change.
- Size is everything
In the last few years, but this year in particular, there has been a lean towards smaller, more modern condos in the tourist hotspots favored by foreigners who’re looking to buy retirement and vacation homes. There has been a more general trend towards modern architecture, rather than traditional Mexican designs, as a whole, though, not just in the smaller condos. The most popular areas for such real estate developments seem to be tourist areas like Puerto Vallarta, Cabo san Lucas, Cancun and the Riviera Nayarit.
- Dollar continues to Rise and hold strong
The American dollar is strong right now and this, along with falling oil prices, has ensured that the average American family have a little extra in their pockets these days. You will get so much more for your dollars right now. If you are thinking of investing in Mexico, now is the time to do so.
- Mexican Banks and Lending Practices
The one downside at the moment when looking at what is trending in Mexico’s real estate is that the banks are shaking up their risk assessment systems and departments in ways which will make it harder for foreign nationals to get mortgages or loans. This means that if you don’t have ready cash you can’t rely on non-Mexican income to qualify for loans or mortgages.
Mexico can offer you great weather, stunning scenery, and a warm welcome. Now that the dollar is strong and house prices are dropping there has been no better time to invest in a Mexican home as a foreign national, and if you’re thinking of starting a business then then new focus on education and job opportunities bodes well for the future of your business.