Cookies on the this website
We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on this website. However, if you would like to, you can change your cookie settings at any time.
Continue

New to PropertyWire?

Welcome, and thank you for visiting our website.

PropertyWire is the leading publication for property investors and industry professionals interested in the world of international property investment.

Our aim is to give you intelligent commentary and analysis on the world of retail and commercial real estate.
If you've enjoyed what you've read so far why not sign up for our FREE property alert and online magazine PropertyWire Confidential.

Every week the PropertyWire team sends out a hard-hitting newsletter packed with news and analysis of the top stories plus the best investment opportunities on the market. We always look at the bigger picture like the Euro Crisis, and explain how this will affect YOUR investments.


Ask me later
No thanks

Wed
Sep 03rd
Lost Password? Register
Home arrow News arrow South America arrow Mexico emerges as popular property investment for Canadians

Mexico emerges as popular property investment for Canadians

Wednesday, 01 October 2008
Mexico attracting Canadian investors
Mexico attracting Canadian investors

Canadian property investors are increasingly investing in Mexico as they regard the US market as not a good prospect at the moment.

An increase in the number of flights from Canada to Mexico and a desire to avoid the volatility of the US market means more are buying second homes and investment properties further afield.

One investor, Doug Walker, had considered buying in Hawaii and the Caribbean. He wanted a holiday home to which he and his wife could eventually retire. 'We were looking for something special but we also wanted to make a good investment,' he said.

He has now bought a home overlooking the Sea of Cortez and the 18th hole of a private golf club on Mexico's western coast.

Walker is not the only Canadian looking to Mexico for a good investment. According to Alfonso Sumano, the Mexican Tourism Board's regional director for Canada, more and more Canadians are holidaying in Mexico and then deciding to invest.

This year flights arriving in Mexico increased by 9.2% and this has made Mexico an easy destination to reach and boosted interest.

'Canadians can leave home in the morning and be on the beach by lunchtime,' said Sumano. Although he could not provide any official statistics for the number of Canadians buying property in Mexico, he said the number had increased substantially.

At Querencia, the luxury gated community where Walker has invested, about 10% are owned by Canadians. Jorge Carrera, president and chief executive officer of Querencia, said he has seen an increase in interest from Canadians.

'My last five buyers have been Canadians. We haven't really targeted them but with the interest we are getting, we are looking to attract more Canadians,' he added.

He reckons that the strong Canadian dollar, low property taxes – just 0.25% of a property's assessed value – and a very low cost of living make Mexico an attractive location for property investors.


BOOKMARK THIS PAGE (What is this?)     Digg!Reddit!Del.icio.us!Google!Live!Facebook!StumbleUpon!Newsvine!Furl!Yahoo!

 
Related News
More Recent News
Earlier News
To see all the latest news articles in our monthly online magazine, Property Wire Confidential, sign up free here






West Tower

West Tower

Car park

West Tower

home rental guide

Limousin Guide

Barratt Homes

Limousin Guide

West Tower

South America: Top Headline

Brazil offers property investment for overseas buyersBrazil offers property investment for overseas buyersAll eyes may be on the football in Brazil but the country’s real estate market is also proving to be of interest to overseas buyers looking for a real estate investment

Search for Properties:

Feature story

Student accommodation investment check List

It’s the UK’s strongest asset class, but are all student accommodation properties good investments? This is the comprehensive list of what to watch out for when buying student property.

 

Company news

Estate and lettings agents UK advert campaign launched

The National Association of Estate Agents (NAEA) and the Association of Residential Letting Agents (ARLA) have launched a new regional TV campaign to raise awareness among consumers of the importance of using an NAEA or ARLA licensed agent.

Finance Update

Barclays trims mortgage rates to attract more first time buyers

Barclays has launched new and reduced mortgage rates which it says will support first time buyers and those customers with a smaller deposit.

Features

Student accommodation investment check List

It’s the UK’s strongest asset class, but are all student accommodation properties good investments? This is the comprehensive list of what to watch out for when buying student property.

 

Newsletter

Subscribe to our weekly newsletter and stay updated on the property market trends.
Subscribe now >>

Subscribe to our South American property and real estate news feed (RSS)