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Latin America Investment News on Viva Tropical

Here’s the Hottest Spot for Baby Boomers in Mexico

Article Summary:

Numbers don’t lie, according to Mexican data 1.1% of people born in the United States who are 50 years old or more who are currently living in Mexico, have established their permanent residency in the colonial city of Merida.

Photo Credit: Yucatan Times

Original Article Text From Yucatan Times:

Yucatan Peninsula Offers Investment Areas for Baby Boomers

The Yucatan Peninsula has specialized areas that provide housing for foreign retirees, an industry which is emerging as one of the most attractive regions to attract foreign retirees.

The provision of infrastructure is offered in all three states in the region: Quintana Roo, Yucatan and Campeche.

According to data from the Census of Population and Housing 2010, the National Institute of Statistics, Geography and Informatics (INEGI) reveals that 1.1% of people born in the United States who are 50 years old or more are living in Mexico and have established their permanent residency in Merida, according to a study by BBVA Bank.

Information from the National Immigration Institute indicates that in 2012, 476 foreigners received their permanent residence cards in Yucatan. From January to April this year, 620 residency cards have already been delivered; this means an increase of 30%. According to these figures, Yucatan is in eighth place as a national destination of foreigners moving permanently.

Competition in the baby boomers housing market is strong in Mexico. According to analysis from Aregional, a consulting firm, in Mexico, there are 36 specialized areas to provide housing to foreign retirees.

In the center of the country are located 15 of the 36 residential developments, which include the states of San Miguel de Allende, Guanajuato, Colima, Comala, Manzanillo, Colima, Chapala, Ajijic, Puerto Vallarta in Jalisco, Nuevo Vallarta, Punta Mita, Nayarit, among others.

The south-east has nine estate areas, which are located in Taxco, Acapulco, Punta Ixtapa, Guerrero, Veracruz, and the three states of the Yucatan Peninsula.

Currently, there are 41 million people who are reaching retirement age in the United States, according to the U.S. Census Bureau, more than half of them have incomes between $70,000 and $150,000 USD per year.

Link to Original Article:

From Yucatan Times

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