Why invest in the Mexican Caribbean?
Investing in
Mexico
In 1982 Mexico’s
Government introduced several structural changes designed to move the
country towards a more open economy with more direct foreign investment.
These changes included the liberalization of policies concerning foreign
ownership of Mexican companies and the support for tourism
development.
The enactment of new
regulations designed to stimulate foreign investment, changed the law
that formerly limited foreign ownership of Mexican companies to 49%.
Under the new regulations, foreign investor’s can now own up to 100% of
a large number of enterprises, including hotel companies and development
companies. Thus, foreign investors in these enterprises have been put on
equal footing with local investors and are no longer required to engage
a Mexican investment partner. Currently, Mexico is the U.S.A.
third commercial partner after Great Britain and Canada.
Mexico offers
foreign investors proximity to the United States, a solid communications
infrastructure, legal certainty, low cost of building materials and highly skilled, trainable labor resources.
The liberalization
of the foreign investment laws is a clear indication of the very
favorable attitude that the government has taken towards foreign investment.
The combination of a rapidly improving economy and a stable profitable
base foretell of excellent ongoing investment potential.
Cancun and the Riviera Maya is in the process of transforming itself into the premier luxury destination in all of the American continent with hotels such as Ritz Carlton, Four Seasons, Capella,
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Maroma Orient Express, Mandarin Oriental, St. Regis, Viceroy, The Tides, Meliá, Hilton, Paraiso de la Bonita, Marriott, Rosewood, Banyan Tree, Fairmont, Princess and W leading the way, this new wave of luxury hotels has created a high demand for luxury residential real estate with gated communities and signature golf courses such as Playa Mujeres, Puerto Cancun, Mayakoba and Playacar, many of them on the beach and several others off beach currently under development.
In the last 10 years values in the Cancun and the Riviera Maya corridor have escalated and are in the process of transforming the Mexican Caribbean into one of the worlds key real estate investment destinations on par with such locations as Los Cabos or Dubai.
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When considering real estate investment in the Mexican Caribbean the best comparison would be to imagine the California or the Florida coastlines some 30 years ago. The attraction for second home buyers and retirees is simple; Cancun and the Riviera Maya with its close proximity to the United States and Canada have some of the most beautiful white sand beaches in the world, a spectacular warm and swimmable turquoise Caribbean Sea and over 300 days of sunshine which make it a perfect paradise for holidays and retirement. The natural beauty of the area is undeniable but there are also other important factors that make the area unique and especially interesting for potential investment.
The most important demographic factor that will continue to drive real estate investment for years to come in the Mexican Caribbean is that every day there are approximately 30,000 baby boomers in the United States, Canada, Mexico and Europe who are retiring. Many of these are affluent snowbirds looking to purchase a vacation property in a warm weather destination or are looking for a change of lifestyle now that their children are financially independent.
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Cancun and the Riviera Maya annually bring in 6 million tourists per year and many of these are repeat pleased visitors who have seen how values have significantly appreciated and have chosen to invest in the area. This is a trend which will continue as many more savy investors discover the beauty of the opportunities at the Mexican Caribbean and gain confidence investing in Mexico.
Another factor which differentiates the Mexican Caribbean from other destinations is that the Cancun International Airport is one of Latin Americas largest airports with daily direct flights to major cities in North America, Latin American and Europe. Unlike other parts of Mexico or many islands in the Caribbean, where you have to take a connecting flight to arrive to your final destination. The Cancun International airport makes the entire coast line extremely easy to access from almost anywhere in the world.
In addition to the beautiful beaches of the Cancun-Riviera Maya corridor, there are many spectacular natural attractions including the worlds famous Mayan Ruins of Chichen Itza and Tulum among others, the second largest barrier reef in the world "The Great Mayan Reef" extending from the North to the South end of the shoreline, great for snorkeling and scuba diving featuring protected parks like Dolphin Discovery´s "El Garrafón" in Isla Mujeres and Chan Ka Nab park in Cozumel island as well as some of the worlds best fishing. Visitors can also find the largest underground river system in America, featuring incredible Cenotes (sinkholes) forming natural swimming pools with cristal clear turquoise blue waters easily seen at natural theme parks such as Xcaret and XelHa. Currently, there are 11 world class golf courses in the corridor designed by Greg Norman, Jack Nicklaus and Robert Trent Jones among others with 8 more under construction. There are large numbers of gourmet restaurants with fantastic chefs, world class shopping, several movie theatres, marinas for yachting and sailing and nearby cultural cities such as Merida or colorful towns such as Tizimin and Valladolid.
Investors can find reasonable properties and attractive costs of construction that are one third of the cost in the United States or Canada. For retirees the quality of life and the costs of living are also considerably lower than northerner countries.
All of these factors make this region one of the premier investment destinations in the world.
At Caribbean Shores Realty we use a combination of local contacts and cutting edge technology to constantly stay informed of developmental trends and real estate values across the state so that we know when a property is correctly priced and offers great value.
Of utmost importance is that Cancun and the Riviera Maya are very safe due to the availability of jobs for friendly locals that largely speak English, are extremely service oriented and warm.
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