The Riviera Maya, also known as the Mayan Riviera, is a tourism district following the coastal Highway 307 which parallels the Caribbean coastline of the Mexican state of Quintana Roo, located on the eastern portion of the Yucatán Peninsula, and an incredibly popular touristic destination that millions of people from all around the World visit every year. Continue reading
So you want to purchase property in Mexico. You’re excited by the idea of finding the perfect bungalow in Playa del Carmen or the Riviera Maya but you’re also nervous. Will buying property in Mexico really be a smart investment?
You can rest assured that it will be. According to Forbes Magazine, it’s safe to invest in Mexico. With an economy that Forbes global economic specialist Sara Zervos describes as, “mostly predictable and rarely volatile”, its movement remains closely tied to that of the United States. Simply put, when the U.S. economy does well, Mexico’s follows suit. When The U.S. economy turns south, so does Mexico’s.
You can credit two main factors the Mexican economy’s overall steady and positive growth. First and foremost are it’s strong ties to the United States. NAFTA has been a big financial boon for Mexico, with many manufacturing jobs moving south of the border. The country has benefitted even more from the technology transfer in recent years and has increased the skills of its workforce to keep up. According to Zervos, Mexican policymakers have also succeeded in, “implementing conservative fiscal policy and prudent monetary policy” further contributing to Mexico’s healthy economy. As a result, the country has survived a number of global crisis as well as changes in presidential leadership.
Because of these two factors, Mexico has experienced 2-4% annual growth over the last 10 years, excluding the Great Financial Crisis. Their stock market has also fared well since 2012 “growing around 22% in local currency terms”, mirroring the growth of the U.S. stock market rather than other South American countries, such as Brazil or Chile.
So with this positive economic growth combined with an all time record low inflation, Mexico appears to be one of the safest countries in Latin America to invest in, particularly in the real estate market. And the situation is unlikely to change anytime soon. Even with the unpredictable U.S. election in November and the Mexican presidential election coming in 2018, Zervos predicts, “economic indicators are expected to remain broadly unchanged, and unlikely to present any significant deviations in current trends.”
As you can see, if there ever was a good time to capitalize on your dream to own a home in Mexico, it’s now. And we here at Living Riviera Maya Real Estate can help. We’ll walk you through the process so you can rest assured your purchase is secure. Don’t hesitate to contact us today with any questions.
Judi Shaw | 1 604 628 7247 Direct | +521 984 116 3251 Mexico Cell or email us