Posts tagged with Homes for sale in Mexico

2008 was a tough year for Tourism in Rocky Point

June 15th, 2009

Drop in number of visitors to area by 250,000

2008 was a difficult year for Puerto Penasco, Mexico in the area of tourism as 250,000 fewer visitors made there way to the area compared to the year before. This decreased represents a drop of at least 16% and had a domino affect throughout the city, reports Rafael Gonzalez Valenzuela, Director of the City Convention and Visitors Bureau (OCV).

The OCV Director stated that, according to report from the port of entry in Lukeville, Arizona, which is the principal port accessing Penasco, they registered nearly 1.3 million foreigners passing through, when compared to 1.55 million in 2007.

He indicated in the area of national tourism the situation was a bit different, as the numbers of visitors in this realm was maintained at nearly 1.75 million. Nevertheless, this phenomenon was not sufficient to reverse the negative impact of the drop in foreign tourism.

Gonzalez Valenzuela explained in the area of hotel occupancy, 2008 ended with an average of 43%, compared to 58% from the previous year, reflecting a 15 point drop.

Base on this, he added, the final evaluation highlight 2008 was generally a poor year for Puerto Penasco (Rocky Point).

Among expectations for 2009, which is sure to be a complicated year and one in which it will be difficult for the situation to improve, they are still anticipating results from the intensive campaign to be carried out in California following the opening up of the coastal highway.

Gonzalez Valenzuela stated they have not done a full evaluation concerning the negative economic impact due to the drop in foreign tourism, but undoubtedly this has taken its toll on practically all service providers and businesses in the city.

The OCV Director remarked that based on this, the task is to strengthen promotional campaigns in order to promote the area in any way possible, given that the economic crisis is likely to last through 2009.

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P.O. Box 560 PMB 21
Lukeville, Az. 85341
Phone us at: 638-383-5856
From the U.S.: 011-52-638-383-5856
Author: Steve Schwab

http://www.realtyexecutivesmex.com

Right Time to Invest in Mexico Real Estate

May 5th, 2009

There has been fervent discussion about the impact of US recession on Mexico Real Estate and its future prospects. When talking about Mexican Property market, it may seem that it is closely related to the US real estate. Some may very well paint a gloomy picture for Mexico Real Estate market. But an in depth study of Mexico Real Estate will reveal a bright future for Mexican Real Estate in the coming year.

The real estate in Mexico has witnessed steady appreciation in the last 5 years. Both, homes and condos in Mexico, new and resale have contributed to this growth. The real estate market in Mexico is usually popular with American citizens who look for a second home or vacation home in Mexico. The reasons for this popularity have been its close proximity to USA, low cost of living, better value for money and a warm sunny climate. Recent years have seen thousands of American expatriates buying retirement homes in Mexico. Moreover, infrastructure in Mexico has improved to international standards. This has made Mexico a much sought after destination.

You may very well ask why Mexican Real Estate industry won’t suffer as a consequence of the recent fall of US economy.

Destination like Cancun, Playa del Carmen, Puerto Vallarta , Baja California region are very popular with real estate investors in Mexico. These areas are continually seeing new and grand real estate projects conceived and completed to meet the demands of the buyers eager to buy real estate in Mexico. With the introduction of Mortgage financing for foreign real estate investors in Mexico, the increase of foreign investment has strengthened the growth of real estate market in Mexico. Since, the lending process and criterion for foreign real estate investors has been simplified, it has served in increasing enthusiasm for Mexico real estate.

Mexico real estate market is much more stable than US real estate market. The residential mortgage backed securities, popular in the US property market, are not common in Mexico, so have a much less effect of the sub prime crisis afflicting US economy.

Another factor is that the buying market who are looking for the second vacation home is not really experiencing too much of the current recessionary effects in America.

One very interesting development seen in Mexican real estate market is the increase in real estate investors from Canada. Canada has experienced a very strong dollar in recent times. Strong economy and increased property markets, especially in the main areas of Toronto and Vancouver , have led to a large number of Canadian home owners able to spend money on a second or Vacation Homes in Mexico.

Mexican real estate market seems to be a promising and steady destination for investors throughout the coming years. Recessionary influences of the US have not shown any medium to long term negative impact so far on Mexico Property Market. Foreign investors from Canada and Europe are flocking to Mexico compensating for any dwindling of investment from USA. So go ahead and buy your dream vacation home in Mexico and secure your investment for the future.

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Insight Advisors
Austin, Texas Office
Gallery Real Estate LLC
9442 Capital of Texas Highway North
Arboretum Plaza I, Suite 500
Austin, Texas: 78759
Tel: 512-380-0070
Fax: 866-687-1821
Toll Free: 1-866-687-1821
All email: manager@galleryre.com

http://www.mexicorealestategallery.com

Author: Herb Charles Jahnke