Blog | Thursday, November 25, 2021
Is Now the Time to Buy a Luxury Home in Mexico? Buying real estate in Mexico in 2022
Maybe you’ve been rethinking whether to buy real estate in Mexico in 2022. There are many reasons for pursuing a luxury property in Mexico. However, timing is important when considering a luxury residence purchase in Mexico. The world is still reeling from the effects of COVID and rising inflation. So, it’s natural to wonder how it affects the real estate market in Mexico.
The answer might surprise you.
The luxury residence market on the East Cape in Mexico is booming and shows no sign of slowing down! With the market growing stronger, bidding wars are common as demand for luxury residences outpaces the inventory. Popular East Cape communities have seen a sharp increase in interest. Visitors enjoy close proximity to U.S. states like California, Texas, and New Mexico.
The East Cape is an attractive option for vacation homes, luxury marina residences, and amenity-rich properties. Amenities include beach clubs, spas, fine dining restaurants, sports centers, and more.
BUYING REAL ESTATE IN MEXICO IN 2022, CASH IS KING
Since most real estate purchases in Mexico are cash sales, this means that buyers need to have cash on hand to purchase a property. This purchasing situation sets Mexico apart in the real estate market, as most people own properties outright. The turnaround in the real estate market is slow with very few bubbles over the decades.
Low property taxes also afford owners the ability to wait to sell properties until they receive full-price offers. As a result, buyers should be prepared for longer purchase times because of the unique conditions in the Mexican real estate market. Owners should plan to hold the property for at least two years if wanting to resell for a profit.
The good news is these conditions create stable prices. Without the wild real estate market swings experienced in other countries, buyers can be assured that a property purchase in Mexico is a reliable investment.
INVEST IN A LUXURY MASTER-PLANNED COMMUNITY
One of the most stable real estate investments is in a luxury residence in a community with many amenities. These highly desirable properties are perfect for both those who want to reside in the property and the investor looking for a rental or higher ROI on re-sale.
The Costa Palma luxury residences offer many amenities perfect for any real estate investment. The master-planned community is the perfect East Cape escape along 1,000 acres of the beautiful Sea of Cortez. Residents of Costa Palmas enjoy a 2-mile stretch of private beachfront, a 250-slip marina with dockside bespoke shopping and spectacular dining options, a Robert Trent Jones II golf course, full spa, several pools, an onsite organic garden and more.
Therefore explore the beauty of Costa Palmas in the security of knowing that the East Cape of Mexico is a sound real estate investment for 2022 and years to come.
