U.S. real estate foreclosure activity fell to a new 7-year low… But what does that mean for real estate in Mexico? Although foreclosed homes are the last big piece of the worldwide economic recovery,still many of the resulting complications are being resolved in 2014.
“The last big piece of uncertainty about personal finances for people considering retirement and visiting or moving to Mexico,will diminish with increasing home values [in the U.S.],” writes the Yucatan Times.
As the second largest economy in Latin America,Mexico is poised to become a major player in the worldwide energy market,especially since economic growth has slowed dramatically in Brazil,which still (tentatively) holds the title of the largest market in the region. For years,Brazil and Mexico seemed interchangeable; both were oil wealthy,both had hard work on their side,but in recent years Mexico has made progressive moves that analysts fully expect to help it surpass Brazil within the next few years.
”We see renewed excitement for Mexico as a great investment destination,” writes the Wall Street Journal.
In recent years,Mexico has also focused on renewing its outdated economic guidelines and making itself attractive for new industries in numerous sectors,while supporting more robust exports. Mexico’s efforts have not gone unnoticed,with both Moody’s and S&P increasing the nation’s international ratings in recent months.
“There is a growing middle class in Mexico that is benefiting from an economy showing increased stability,” writes CNBC.
Expats are a large part of Mexico’s growing upper and middle class,and there are an estimated 40 million-plus retirees who will be looking for a great place to retire between now and 2030,many of whom are already seriously looking at real estate in Mexico. Of course,the slew of progressive economic reforms that have been introduced by the Mexican government since last year are yet another major reason investors worldwide in many sectors have been increasingly positive about Mexico’s economy and growing real estate market.
Click here to learn more about real estate opportunities in Mexico.
“Whether your dream retreat is a graceful colonial home with lavish gardens,a simple beachfront bungalow where you can prop up your feet and watch the tide roll in,an expansive hacienda with enough acreage for horses to roam,or a cliff side villa with sunset views and cool,steady breezes,you are likely to find it in Mexico,” writes International Living.