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own property
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Buying property in Turkey: new building and resale
The acquisition of real estate in Turkey today has become the most popular destination among Russians when it comes to investing in foreign square meters - while both new buildings…

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Mexico. Acquaintance with the real estate market

Real estate and Mexico – this combination of words for the Russian ear sounds very unusual; the impressive distance from Russia at a distance of more than 10,000 km allows us to consider this country more likely for a rare vacation than as an option of “giving to the sea”, however this terra incognita is today one of the best countries for investing its funds in real estate for its subsequent lease or resale. Which certainly does not negate the excellent opportunity to live and relax in the country of wide-brimmed sombrero.
Foreigners have always shown interest in Mexico. There are always a lot of citizens of the USA, Canada, Italy, France, Germany, Czech Republic, Poland and many other countries. There are foreigners who live here for more than twenty years. The Russians “discovered” Mexico 5-7 years ago. Of course, they were present here before, but compatriots began to rest and acquire real estate only in the last five years. If information about the popularity of investing in real estate in Mexico has just begun to come to the Russian market, then the United States has been aware of this for a long time and takes this opportunity, as a neighboring country, in an extensive volume, including the local Russian-speaking population.

Increasingly, investors are coming to the Mexican real estate market, acquiring not one, but several apartments at once (often 5-7 objects each), which, when rented out, bring their owner about 10% of the value of the object per year. In Europe, such an indicator is rare when it surpasses the mark of 4-6%. An affordable investment target may be an option in downtown Cancun, costing $ 85-90,000 with two bedrooms up to 80 square meters in a residential complex with infrastructure – a swimming pool, parking, a playground and security.

At such a favorable price, an apartment can be purchased at the construction stage, since after the commissioning of the object an extra charge of 30% appears. From $ 10,000 and above will cost full furnishings of housing. In finished form, such an object can be leased for a long time for $ 1,000 per month, and for daily rentals, the price will vary from $ 50-60 in the low season to $ 75-90 in high with an average annual occupancy of 75-85%. A management company serving a specific property will charge 20% for its services provided that the apartment is rented out for a long term and 30% for a short term. By the way, often such companies often take on all “turnkey” services – from finding an object to buy to finding tenant customers.

Investors with more substantial amounts of $ 120-150,000 will be able to purchase an apartment directly on the Mexican coast. Certainly in Mexico, which is considerable in size, there are many popular places for recreation and accommodation, so the specific choice depends on the purpose of the purchase. Since the Riviera Maya, the coastal tourist zone of the Caribbean coast, is the most visited region of the country, it is here that they most often buy profitable real estate that is handed over to specialists or rented out independently – more than 37 million tourists visited the country last year, so the process this one should not take a long time to find customers. Cancun and the Pacific coast are very popular among local residents and citizens of Canada and the United States, and the Caribbean coast is traditionally held in high esteem among foreigners.

One of the “stars” of the Riviera Maya was the town of Tulum, which is now called the new Ibiza, Latin American Spain or the local French Riviera. Luxurious yachts, diving and real estate with penthouses at their peaks and an active club life – there isn’t such a combination in Mexico right now, the demand is much higher than the offer, so an investment of $ 250-300,000 for one penthouse will subsequently allow for daily rent for 250- 300 dollars and in the near future there will be no problems with renting such an object. True, it is worthwhile to understand that even in Tulum there are luxurious beaches, however, active development does not yet make it possible to call this point a city with developed infrastructure suitable for families, it is rather a youth format. But Playa del Carmen and Puerto Aventuras are ideal for measured relaxation or living with all the necessary components. Puerto Aventuras, for example, is a gated community with cafes, schools, shops, marinas, a dolphinarium, beaches and much more.

The Mexican primary real estate market is now clearly experiencing the most active times. A lot of housing options are being built, from budget ($ 25-90,000 per apartment or house) to premium ($ 1.5-3 million per apartment or penthouse on the first line). Luxurious options with large terraces and fully furnished will have an area of ​​more than 500 square meters. m. Demand exceeds supply, there is a steady increase in prices in the amount of 5% annually.

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