When it comes to luxury real estate, Mexico is a great place to invest. The beautiful country is located in North America with beaches on both the Pacific Coast and the Caribbean Sea. In coastal towns, luxury beachfront real estate is in high demand. Investors and homebuyers from all around the world love Mexico due to the area’s natural beauty, great food, and warm climate. As a result, many people decide to buy vacation homes, second homes or retirement homes in Mexico. If you want to learn more about luxury real estate in Mexico, keep reading below.
Luxury Real Estate in Mexico
To start with, Mexico is generally regarded as one of the best places in Latin America in terms of real estate investment. Mexico is a great place to own property and has numerous options when it comes to luxury real estate. In case you didn’t know, Mexico boasts the second-largest economy in Latin America after Brazil, with GDP totalling $2.492 trillion at the end of 2022 when it comes to purchasing power parity terms. Curious where the most expensive home is found in Mexico? In Los Cabos on the Baja California Sur peninsula is a property known as we El Cielo 2 that is the largest and most expensive home in the country. The incredible property includes 2.43 acres of oceanfront land and is currently listed for sale for $90 million making it the most expensive single piece of real estate on private land in the history of Los Cabos and currently the most expensive in all of Mexico.
Why Buy Luxury Real Estate in Mexico?
There are lots of reasons why it’s a smart move to buy luxury real estate in Mexico. To start with, you can buy a high-end property that still costs less than similar properties that are located in the United States or Canada. In addition, investing in real estate in Mexico also brings several economic benefits. For example, if you buy a home in a tourist destination such as Puerto Vallarta, you are able to rent out your properties to foreign vacationers in US Dollars. Likewise, you can also resell the properties in a currency that generates a much higher return on investment as the US Dollar maintains its value at around 17 times greater than the Mexican peso. That way, you are essentially guaranteed to make a profit if you sell your property down the road if you buy luxury real estate in Mexico.
Where Do People Buy Vacation Homes?
Next, while many foreign buyers like to buy property in the country’s capital of Mexico City, Mexican beachfront properties are also very popular with foreign buyers. The majority of foreign buyers in Mexico are Americans and Canadians that have a short flight to get back and forth to their native country from Mexico. In fact, Mexico is the number 1 country for buyers from the US and Canadians that want to buy a second home. Some of the most searched-for destinations in Mexico include Puerto Vallarta, Cancun, Playa del Carmen, Tulum, and Cabo San Lucas. These dreamy coastal locations have amazing beaches and warm climates that are very attractive to homebuyers. Plus, these destinations now also have modern conveniences like excellent hospitals and doctors, a variety of great restaurants and bars, world class shopping, and so much more.
We hope you enjoyed this article on luxury real estate in Mexico. If you want to invest, check out luxury beachfront real estate in Puerto Vallarta at Lemuria Residences. The new construction is a high-end condominium complex that also comes with world class amenities and services, too. Ideally situated on Puerto Vallarta’s exclusive South Shore, Lemuria Residences are elegant, spacious, and super luxe. Contact them today to learn more. Maybe you can own your very home dream home at the beach before you know it!