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Mexico: Central Region Most Sought Out by U.S. Expats

Article Summary:

The central region of Mexico is home to the largest amount of expat retirees, roughly 42%, where they enjoy a moderate climate and established expat communities.

Photo Credit: El Economista

Original Article Text From el Economista via Google Translate :

Center, with more supplies for baby boomers

In Mexico there are 36 specialized real estate areas to provide housing for retired foreigners, baby boomers, of which 42% is in the central region, according to an analysis of the consulting aregional.

Thus, in the center of the country, where 15 of the 36 residential developments, include the cities of Guanajuato and San Miguel de Allende, Guanajuato, Colima, Comala and Manzanillo, in Colima, Chapala, Ajijic and Puerto Vallarta in Jalisco; Nuevo Vallarta and Punta Mita, Nayarit, among others.

In the north, there are 12 major complexes located in Rosarito, Ensenada and Los Algodones, Baja California, Los Cabos, La Paz and Loreto, Baja California Sur, Puerto Penasco, Sonora, and in Mazatlan, Sinaloa, among others.

The south-east has nine estate areas, which are located in Taxco, Acapulco and Punta Ixtapa, in Guerrero, Huatulco, Oaxaca, Playa del Carmen and Cancun, Quintana Roo, Puerto Progreso in Yucatan, and in the cities Campeche and Veracruz.

According to the U.S. Census Bureau of the United States, currently exist in the country’s northern neighbor 41 million people who are reaching retirement age.

More than half of them have incomes between 70,000 and 150,000 per year (875,000 875,000 and 1 million pesos), has an average life expectancy of 83 years, 80% own a home and a third of its assets as invests in real estate, consulting concerns.

Meanwhile, by 2030 it is estimated that there are 72.8 million, of which 40 may have difficulty maintaining living standards prevailing in their country.

“Given the high cost of housing in the U.S., more and more retirees are heading towards Latin American destinations like Mexico, Costa Rica, Panama, Belize and Ecuador, in order to benefit from lower real estate costs, medical services and food” highlights aregional in the document. “Mexico, fourth most attractive country for foreign pensioners”.

“We have a lot of Baby Boomers in the United States today have money but want to become old youth. We speak more than a trillion dollars in that market, and we need to go for it and this area is very favorable, “explained the president of the Kanak San Luis Potosí, Cantú Jaime Sánchez, yesterday during the Regional Consultation Forum for Sector Programme 2013-2018 Tourism, held in Querétaro.

According to the consultancy International Living, Mexico is the fourth largest economy attractive, from a sample of 22 countries, for the market of baby boomers, just above Ecuador, Panama and Malaysia, which include housing in competitive pricing and incentives tax for this segment.

The sample evaluated eight factors: real estate, special benefits for retirees, cost of living, integrating the environment, entertainment, health, infrastructure and climate pensioners.

“In the past five years, Mexico has lost ground as ideal destination for foreign retirees, due to the growth of real estate developments in other Central and South American countries, tax incentives and recreation in these nations, limited physical infrastructure for pensioners and seniors, especially, the increased perception of insecurity, “says the consultancy.

However, Jesus Sanchez Arciniega, UNAM researcher, Mexico could return air due to a new bill that allows foreigners to purchase property in national soil, particularly on beaches and in border areas, but still must be improved in safety.

Link to Original Article:

From el Economista

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