Industry profile

The Second Home Industry in Mexico

In addition to being the world’s eighth most frequent destination for international tourism – and the first one in Latin America – Mexico is now the favorite choice of U.S. citizens seeking to buy a second home for either temporary or permanent residence. Currently there are more than a million Americans living in Mexico.

For more than twenty years, a growing number of Americans have found an attractive living alternative in Mexico, for both temporary stays and permanent relocation. More than 6.5 million U.S. citizens are estimated to live outside their country, of whom 1.2 million reside in Mexico: 20 percent of the total.

Over the last fifteen years, Americans and Canadians have bought more than 4000,000 homes in Mexico.

Softec, a consulting firm specializing in counseling for the real estate and mortgage lending sectors, estimates that, over the coming five years, more than a third of tourist residences in Mexico will be bought by baby boomers. The federal government, state governments, and business organization are all working hard to take advantage of this attractive opportunity.

In its 2008 Annual Retirement Index, International Living magazine ranked Mexico as ?the World?s Top Retirement Haven? for the second consecutive year.

Mexico offer a range of advantages:

• Lower cost of living
• Competitive prices and facilities for buying real state
• Closeness
• Climate and natural beauty
• Cultural and historical heritage
• Biodiversity
• World ? class infrastructure
• Quality health services at a lower cost than in the United States
• A variety of entertainment, cultural and educational activities

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