Investing in Mexico What Sets Puerto Escondido Apart from Other Markets by Brent May March 15, 2024 written by Brent May Puerto Escondido, nestled on the southern Pacific Coast of Mexico, stands out as a distinctive destination and real estate market. From its exciting food scene to a diverse community and a year-round rental market, Puerto Escondido offers a unique blend of culture, lifestyle, and investment opportunities. In this article, we have a look at the factors that set Puerto Escondido apart from other real estate markets. A New Foodie Destination Puerto Escondido has emerged as a culinary hotspot with Oaxaca City, attracting food enthusiasts from around the globe. Both of these destinations privilege the farm-to-fork concept. The culinary scene is chef-driven, with many talented professionals incorporating locally sourced products, mixing traditional recipes with new cuisine, resulting in a delightful fusion of flavors. From street markets to upscale restaurants with fish and seafood as fresh as it gets, Puerto Escondido offers a gastronomic experience like no other. The food scene notably offers exclusive culinary experiences. Unique restaurants within designer hotels, like the revered @kakurega_omakase at Casa Wabi, provide foodie experiences requiring long in advance reservations that set the town apart. Diversity in Culture and Community One of Puerto Escondido’s distinguishing features is its diverse community, making it the most eclectic place in Oaxaca. The town attracts people from various backgrounds, including Europeans, Arabs, North Americans, and Africans. This blend of age and ethnicity contributes to a stimulating atmosphere for people who choose to live here. Laid-Back Lifestyle and Wellness Focus Attracting families and young professionals, Puerto Escondido appeals to those seeking a laid-back, healthy lifestyle. The focus on sports, wellness, and overall well-being creates an environment where families and young couples thrive. Yoga offerings, chef retreats, and a commitment to local organic cuisine contribute to a quality of life that sets Puerto Escondido apart from other destinations. Read more about Why People Love Living in Puerto Escondido. Booming Real Estate Market Puerto Escondido is witnessing substantial growth, both in terms of its town development and real estate market. The real estate market attracts a diverse range of investors, from young families to retirees, all seeking a simple, clean, and healthy lifestyle. New developments are coming on the market providing different housing options from single family homes to condo developments which are fairly new to this area. Bayside Real Estate has a range of developments. Paxifico in La Punta de Zicatela with direct beachfront access, was designed by the renowned BAAQ architectural firm, led by Alfonso Quiñones. Construction has begun on Villas Marinero, a slow-living concept in a prime beach location on Playa Zicatela. Puerto Bambu in El Venado is a beachfront low-density development with unique 3 BR, 3.5BA beach homes. La Escondida near El Faro designed by internationally award-winning architects offering the perfect Mexican modern design has some villas for sale. Villas Palmarito has town house and villa options north of town. Year-Round Rental Market Puerto Escondido’s real estate market has experienced a transformative shift, during and especially post-COVID. Once known for its traditional rental patterns of high winter rentals and lower spring through fall occupancy, the town has become a year-round destination. The influx of new residents and extended stays has eliminated traditional low seasons. From Americans seeking summer surf stays with their families to winter snowbirds and the continuous flow of surf enthusiasts throughout the year, Puerto Escondido is thriving, with occupancy rates ranging from 85-90% per month in condos near town. Growing Connectivity As Puerto Escondido evolves, so does its connectivity. The airport is undergoing renovations, with plans for international flights from Canada, the US, Europe, and South America. The newly improved Puerto Escondido to Oaxaca City highway has drastically reduced travel time, making the city accessible in just 2 hours and 45 minutes, compared to the previous 6.5-hour journey. The hospitality sector is responding with boutique hotels, catering to the growing influx of visitors. Read our article here about Puerto Escondido Airport’s Upcoming Transformation that has already begun. Unique Architectural Projects Architecture plays a crucial role in Puerto Escondido’s charm, with numerous projects designed by renowned architects. Read more about that in our article, Exploring the Architectural Projects of Puerto Escondido. Proximity to the Mountains Beyond the coastal beauty, residents LOVE the proximity to the mountains – just 30 minutes to an hour away. Weekend getaways in mountain cabins provide a refreshing escape to visit coffee plantations, hike, and relax in the cool mountain air and forests. Unique Mexican Charm with an Active Expat Community Puerto Escondido offers the best of both worlds of Mexican authenticity and an active expat community. Mexican people from all over Mexico including Mexican professionals like specialty doctors, are choosing Puerto Escondido for its unique charm and high quality of life. The town’s personality sets it apart from larger tourist destinations like Puerto Vallarta and Cancun, offering a size that is just right – bigger than the coastal villages like Mazunte but not too small or too big. Standing out as one of Mexico’s Top Emerging Markets, Puerto Escondido offers a unique blend of diverse culture, culinary excellence, and a thriving rental market. Coupled with a commitment to wellness, architectural innovation, and improved connectivity, Puerto Escondido is positioned as an exciting destination and investment opportunity. If you’re ready to make the move, get in touch with our agents. They will get to know your dreams and help you find the perfect home on the Oaxaca Coast. 📞 954 559 9159 ✉️info@baysidepuertoescondido.com 🌐baysidepuertoescondido.com March 15, 2024 0 comment 0 FacebookTwitterPinterestEmail
Mazatlán Mazatlán: Your Ultimate Destination for the Great American Eclipse on April 8, 2024 by Brent May March 14, 2024 written by Brent May Mazatlán: The Prime Viewing Location for the Great American Eclipse The Great American Eclipse will happen April 8th, 2024. We are super excited here in Mazatlán because we are the best place to see it in all of North America! In Mazatlán, the full eclipse will be visible, and we have the best weather for it! Clear, blue, sunny skies are the daily grind here. Mazatlán’s Preparation for the Total Solar Eclipse This full eclipse, when the moon passes between the sun and Earth, will experience total darkness for 4 minutes and 20 seconds. NASA will be documenting the eclipse from the port of Mazatlán. NASA will also livestream the event. Telescopes will be set up in public spaces all around the city for residents and visitors to directly observe the eclipse. Join the Excitement: Stay & Play in Mazatlán If you’re exploring Mazatlán for your real estate investment or retirement home, join us in Mazatlán in April 2024 for a Stay & Play. All eyes will be on the city as we gear up for the total solar eclipse. Many people will flock to Mazatlán to watch the eclipse at 11:07am local time. Plans for eclipse parties and celebrations are underway. During a total solar eclipse, the moon completely covers the sun. The total eclipse phase itself lasts for only a few minutes at any specific location along the eclipse path. The day slowly turns into an eerie twilight. The entire eclipse, from the beginning of the partial phase to the end, spans a few hours as the moon’s shadow sweeps across the Earth. The eclipse is a captivating moment and precious for observers in the path of totality. Mazatlán is a cosmopolitan coastal city with almost half a million people. The city beach lifestyle focuses on active living, an incredible climate, a warm expat and local community, large cultural offerings, amazing amenities, beaches and affordability. It is a remarkable destination for expats seeking a vibrant and culturally rich living experience. Read more: Why We Love Mazatlán The Allure of Mazatlán’s Coastal Lifestyle The city’s historic center is a colorful testament to its rich colonial heritage, featuring a large and well-maintained downtown. Mazatlán also has an abundance of modern amenities. With fine dining, European-style cafes, lively clubs, museums, theaters, and a diverse music scene, creating a dynamic and engaging urban environment. The local dining options, from small eateries to gastronomic options characterized by rich and flavorful cuisine with lots of fish and seafood, add to the city’s charm. Mazatlán has miles of well-maintained sandy beaches and warm, inviting waters. A lighted boardwalk along the beachfront, the Malecon, provides a picturesque setting for strolls, jogs, and leisure activities. Read more: How To Get To Mazatlán This Winter Investment Opportunities in Mazatlán’s Real Estate Market Remarkably, Mazatlán offers affordability with reasonable prices for property investments. Its status as a highly desirable expat destination with a robust rental market. Property owners can leverage the city’s popularity among visitors to generate rental income, making it an appealing prospect for those considering investments in the real estate market. In essence, Mazatlán stands as a mosaic of culture, history, modern amenities, natural beauty, and affordability, making it a compelling living destination for expats seeking an active and enriching lifestyle. If you’ve decided Mazatlán is right for you, get in touch with our agents. Sure, here’s how you can set it up with emojis: 📞 669 110 3441 ✉️ info@baysidemazatlan.com March 14, 2024 0 comment 0 FacebookTwitterPinterestEmail
How To GuideRelocating to Mexico How To Know Which Mexican Visa is Right for You by Brent May March 13, 2024 written by Brent May Some of the most frequent questions we get are about which visa to get for living in Mexico part or full-time. This article will first clarify the difference between a visa and a permit. Then we will discuss the different types of visas and permits and qualifications for each including financial requirements. We can’t express enough how important it is to always check with the Mexican consulate where you will apply and your local immigration office once you are in Mexico for the latest requirements. Not only do requirements change often, but they change from consulate to consulate. What is the difference between a visa and a permit? There is a difference between a visa and a permit. The visa, step 1 of the immigration process, obtained outside of Mexico at a Mexican consulate, allows you to enter Mexico with the correct immigration status. This will be a sticker in your passport. The permit, step 2 of the immigration process, is obtained by visiting your local immigration office, INM (Instituto Nacional de Migración) within 30 days of arriving in Mexico with your visa to complete the process. You will then receive a “card” which is the physical document you will hold once the entire process is complete. Types of Mexican Visas and Permits Mexico has 3 main types of immigration visas leading to the corresponding permit: 1. Visitor’s Permit or Visitante: for short-term stays. This permit is obtained by filling out the FMM form upon arrival in Mexico or you will receive the paperless version which is a stamp in your passport granting you a number of days.In the case of the paper version, the airline provides the form or it will be provided in the immigration offices if arriving by land or sea. If arriving by airline, the $25 USD fee is usually included in the airfare (unless it’s a charter flight). If arriving by land or sea, the fee will be due upon entry.The visa can be granted for up to 6 months or 180 days and cannot be extended or renewed. You will need to leave the country before it expires.Note: Just because it can be granted for up to 180 days, does not mean you will receive 180 days. Plan to show proof of lodging with dates and your return flight if you would like to receive 180 days. If you are a frequent traveler to Mexico and wish to stay for several months at a time, you should apply for one of the visas below. 2. The Non-Immigrant Permit or the Temporary Resident Permit (Residente temporal), formerly known as the FM3. This is the permit you need if you plan to stay in Mexico longer than 180 days and up to 4 years or if you travel regularly to Mexico for several months at a time. This permit can grant working permission or not, depending on your purposes and if you fulfill the required documentation. 3. The Immigrant Permit or the Permanent Resident Permit (Residente permanente), formerly known as the FM2. This permit is for people looking to reside permanently in Mexico, usually retirees, and perhaps eventually acquire citizenship. You can directly apply for this permit; you do not have to obtain the Non-Immigrant permit first. It is less commonly given by the consulates even if you fulfill the requirements. However, it is a common path after 4 years of having the Non-Immigrant Permit to continue on with the Immigrant Permit if you are planning on staying in Mexico. Financial Qualification Criteria If you are using your income and/or assets to qualify for residency, there are 4 routes. Showing you have a minimum monthly income Having a minimum balance in your personal savings or investments Owning a house in Mexico that has a specified minimum value Making a capital investment in a Mexican company. To qualify for residency using the above, you must meet the minimum amount of just one of the above. You may not mix income and assets. All documents of proof of the above must be in the name of the residency applicant. Amounts differ according to the type of residency you are requesting. Which Permit Do I Need? The Temporary Resident Permit or Residente temporal For most foreigners living in Mexico, this is the only permit they need. You can renew it annually and for up to 4 years under certain conditions. It does not lead automatically or directly to permanent residency status or citizenship. It also does not automatically grant permission to work. Depending on your intents and objectives of living in Mexico, you will supply documents for your situation. Who Qualifies for Temporary Residency? Basically, if you are applying for the Residente temporal and do not wish to work, you will supply documentation showing proof of a certain level of income or assets. See above. In March 2024, if you wish to apply for a Temporary Resident Permit, you must supply documents showing: -you have a monthly income from foreign sources amounting to approximately $4350 USD per month every month over the last 6 months. (Check with your consulate because some will require proof from the past 12 months). OR – have assets such as a savings account balance over the past year amounting to at least $73,200 USD. The balance must always be above the minimum required amount. NOTE: These amounts vary according to different consulates and vary monthly according to exchange rate. As stated above in the Financial Qualification Criteria, you may use the market value of your home in Mexico (only in Mexico). You must be able to show that the property has a minimum market value of approximately $586,000 USD. It must not have any mortgages or charges. The value is noted on the deed/sales contract or from a recent appraisal. Again, the documents must be in the residency applicant’s name. Lastly, you can use the option of investing in a Mexican company. If you invest in a privately Mexican-owned company or in companies listed on the Mexican stock exchange, in order to qualify for Temporary Residency, your investment must be of at least approximately $293,000 USD. Know that this is the most complicated route to Temporary Residency. Please investigate further for the list of conditions. What If I Want To Work? If you do wish to work, you can be sponsored by an employer. They will provide you with the proper documentation proving you will work for the employer, your job description and responsibilities, your salary and the intended time of employment. Receiving a visa for a company-sponsored job is mainly done by matching your skill sets with skill sets the employer has not been able to find in-country. These work permits restrict you to only working in specific capacities that the Immigration Office will define. Read our article here to know more about How To Get a Work Visa to Work in Mexico. The Permanent Resident Permit or Residente permanente If you have fallen in love with Mexico and wish to live here on a permanent basis, you may wish to apply for the Permanent Resident Permit. This permit is for those looking to stay for long periods of time and who intend to live permanently in Mexico. There are plenty of benefits to getting this card besides not having to leave the country after 180 days. You will get access to the national health care system, tax benefits and other discounts for senior citizens. It may also offer you the possibility of getting a work permit under certain circumstances. Who Qualifies for Permanent Residency? Applicants with ties to Mexican citizens (spouse, common law partner, child) or foreigners residing in Mexico with temporary residency status. Retirees proving they have sufficient funds to support themselves. The amount of funds necessary can change in time and varies according to where you make application. Check with the consulate where you will make application. Holders of the Temporary Resident Card for 4 years. Holders of the Temporary Resident Card for 2 years who were granted the card through the family unity stipulations. Some other categories of people including those seeking refuge for humanitarian reasons or asylum. You do not have to hold a Temporary Resident Card to apply for the Permanent Resident Card. However, the consulates are only granting permanent residency to retirees. If you meet all conditions but are not retired, they will likely offer a Temporary Resident permit. If you are applying for the Residente permanente and do not wish to work, you will supply documentation showing proof of a certain level of income or assets. The income required from foreign sources in order to be granted Permanent Resident status is higher than that for a Temporary Resident Permit. In March 2024, if you wish to apply for a Permanent Resident Card, you must supply documents showing: -you have a monthly income from foreign sources amounting to $7300 USD OR – have assets such as a savings account balance over the past year amounting to at least $293,000 USD NOTE: These amounts vary according to different consulates and vary monthly according to exchange rate. Read more: How Long Can I Stay in Mexico? Please note that this information is being provided as a general guide. The regulations and requirements frequently change so please confirm them with your attorney, a Mexican embassy or consulate. Once you decide on which visa you will apply for, you will gather your documents and make an appointment at your Mexican consulate in your home country or another country outside of Mexico. To read more about the first step in getting your visa, read our article How To Get Your Mexican Visa: Step 1. March 13, 2024 0 comment 0 FacebookTwitterPinterestEmail
Buying Property in MexicoHow To Guide How To Make an International Money Transfer by Brent May March 6, 2024 written by Brent May Sending money internationally is a lot easier these days than when we could only rely on our bank. No matter where you are in the world, you will find that sending money to Mexico is a straightforward process. You have several options for getting your funds to Mexico, getting a good deal on the money exchange and transfer and getting the money there quickly and safely. Our team of experts is always here to help. Here, we’ll cover how you can do just that and the information you’ll need to get started. Banks vs. money transfer services With international wire transfers, when relying on your bank only, most bank tellers do not have much or any experience in doing international wire transfers. It is a process involving many details, it can be a long process and mistakes can be made. Often these small mistakes can result in money being lost in cyberspace and then the bank having to make a recall to get the money back. The money can be traced and found, but this stressful process could easily take a couple of weeks. In addition, if your bank does not have an established relationship with the receiving bank in Mexico, the wire will pass through an intermediary bank which will slow down the process. Other factors that make wire transfers slower can include your payment method, weekends and holidays, cut-off times and time zones. In a best-case scenario, international wire transfers through the bank take 3-5 business days. However, in some cases, funds may not actually clear for a couple of weeks. After the transfer is made at your bank, as seller representatives, we check the bank accounts every day to see if the funds were received. It’s a stressful process for the buyer and the seller, the agent and the team. Benefits of using money transfer services Our recommendation is to always use a money exchange transfer service. There are a couple of big benefits to using one of these services. The day the transfer happens, it is instantly posted in our escrow account. We know immediately that the transfer was successful the same day it was made or at the latest, the next morning. The funds won’t be available for a couple more days while they’re cleared, but we know the funds are there and the buyer, the seller and our team doesn’t have any stress. When exchange is involved, often Canadian dollars to US dollars or Canadian dollars or US dollars to Mexican pesos, the money transfer exchange service will typically give better exchange rates than the banks. Banks also charge higher fixed fees for a wire transfer. When transferring a large amount, this is a big factor to consider. Overall, these money exchange transfer services provide better quality service. We’ve had success every time using a transfer service. Read below to get started on the best ways to send money to Mexico with a money transfer service. How to Send Money to Mexico If you’re looking to send money to Mexico for payment of your new ocean view home, for example, the steps are simple and easy. Read more: How Many Paths Lead to Huatulco: One Expat’s Perspective Choosing a money transfer service First, you will choose the best money transfer service for your circumstances. To choose a provider, look at transfer fees, exchange rates, payment methods, transfer times and anything else you need. Using these parameters, you will be able to choose a service that supports exchange and transfer among the currencies you are using and that provides the best deal. Most of the services will provide exchange and transfer between Canadian and US dollars and Mexican pesos. Then, the services differ in how they collect their fees. Usually, either they charge a fee for providing the transfer or they do not charge a separate fee but provide a lower exchange rate. This is a calculation you can check out by looking at comparison tables online. If you type “money transfer to Mexico” into your search browser, you will find several sites providing comparisons between providers. This may help you in your research for making your choice of a service that is right for you. Registering with your chosen international money transfer service This is the nuts-and-bolts part of the process. It is typically easy and does not take much time. Have your basic documents on hand: photo id, proof of address, email. Most of the services require your name and email only. Others may verify your identity and address. You can sign up on the website or through a mobile app. You can also do the money transfers on the website or app. Starting your transfer You will first add funds to your new money transfer service account usually through a local bank transfer. Then you will need your recipient’s name as it appears on their government-issued id, their contact info and their bank account information. For Mexico, you will provide the beneficiary bank, the CLABE (Clave Bancaria Estandarizada) which is an 18-digit code with the bank code, branch office, account number and control digit. Your recipient will send you all of this. You will enter the sum you are transferring, the currencies you are transferring from and to, and your payment details. You will be given an estimate of how long your transfer will take. In sum, using banks can work but we have had issues where money has been lost and the bank has had to trace money for up to 2 weeks which delays the transaction and could even result in breach of contract. Typically, everyone is understanding in these situations, but it is an experience that can be avoided. Our clients have used different money exchange transfer services. We can recommend Firmafx.ca, OFX, XE.com, Wise (formerly TransferWise), and KnightsbridgeFX out of Toronto. There are many others. Do a little research before deciding on a provider to compare their rates, currency exchange, speed of transfer, transfer limits and convenience. This will ensure your money gets moving quickly and smoothly. As always, reach out to us at Mexico Living when you have questions about purchasing your dream home in Mexico. Also, check out our blog with our “How To” articles to help you in your process of moving to Mexico. Read more: How To Open a Bank Account in Mexico How To Get a Permanent Resident Permit in Mexico How to Buy a Car in Mexico March 6, 2024 0 comment 0 FacebookTwitterPinterestEmail
Retiring in Mexico Why is Huatulco One of the Best Places to Retire in the World? by Brent May March 1, 2024 written by Brent May Mexico continuously rates highly on the International Living Index of the World’s Best Places to Retire. Of their most recommended places to retire, Mexico ranks third for 2024. This index, with 30+ years of experience and methodology and consultants across 5 continents, considers a range of factors including financial factors (buying and investing, renting, cost of living), health factors (healthcare, healthy lifestyle, climate), lifestyle factors (visa and residence, fitting in), and governance factors such as development. Elements for Mexico’s top ranking include the fact that Mexico has something for everyone from small colonial cities to oceanfront living, low cost of living, availability of quality healthcare, climate and vibrant Mexican life and culture to name a few. These advantages become even more evident when correlated to Huatulco. Appealing Cost of Living. The low cost of living continues to appeal to retirees who are generally able to make their income go considerably further and specifically further in Huatulco. Their income buys more quality also. From quality food products, to restaurant dining, to real estate investment, Huatulco offers more quality buying power. Additionally, the lower peso, favors Canadians and Americans with strong dollars granting them even more buying power. Huatulco is a quality tourism market. By focusing on quality, more than quantity, tourism remains steady but without becoming such a tourism hot spot that it out prices its residents. On the contrary, perhaps the single biggest charm of Huatulco is the affordable lifestyle that can be created here. There are cheaper destinations than Mexico, but Mexico and Huatulco are easy to get to and are a great value. As the peso oscillates between 17 and 18 pesos to the U.S. dollar, everyday purchases are still a bargain. It is affordable to eat out, pay medical expenses out of pocket, have a housekeeper a couple times a week and a handyman, and travel within Mexico or to shorter distance destinations such as Guatemala, Peru, Ecuador or the Caribbean. Lifestyles and requirements differ but generally, a retired couple can spend about $2500 per month all expenses included… without counting pennies . Quality, Affordable Healthcare. Many other benefits abound including coverage by a national health care plan, the IMSS, once Mexican residency is established. (See our article about getting the visa that is right for you.) Many people opt to pay for healthcare out of pocket. Others find insurance plans through national and international insurance providers and even through some banks. To know more about healthcare in Huatulco, see our article: What You Need To Know About Healthcare in Huatulco. Not Just Good Weather, Great Weather. Huatulco’s climate has 340 days of sun per year with no rain during the winter. At just 15 degrees’ latitude above the equator, Huatulco has the most consistently hot temperature in Mexico. Most days, the town receives light breezes by day from the ocean and cooler breezes coming down from the mountains at night. Huatulco’s Perfect Weather 340 Days of the Year Small-town vibe. Newcomers to Huatulco enjoy the small-town vibe making it easy to fit in and make new friends. Local events, vibrant social and cultural opportunities and a laid-back lifestyle make Huatulco a real paradise. The friendly expat community ensures that you have an English-speaking population. Many locals and service providers like doctors, lawyers, and dentists speak English also. Safe Community and Region. Oaxaca is consistently and continuously one of the safest Mexican destinations. Crime rates here are lower than in U.S. states with comparable populations. The presence of a naval base on this area of the coast also promotes security and has thwarted organized activities suffered in other areas. Plenty of Activities. Huatulco has a long, long list of things to do. Getting bored is not an option. Water activities, volunteer opportunities, gyms, walking routes, nature parks and beach clubs as well as general exploring adventure of the beaches and coastline guarantee that there is something for everyone. Stunning Landscape. Huatulco has a magical landscape, settled in between the mountains and the ocean. With a backdrop of the Sierra Madre del Sur Mountains, Huatulco looks out to the Pacific Ocean. Huatulco is a community stretched out along several bays, some with easily accessible beaches, some with picturesque rocky outcroppings. The entire shore here is quite dramatic. Eco-friendly Attitude. Even as all of these factors contribute to an excellent quality of life, Huatulco itself radiates general positivity being a master-planned community. Huatulco uses renewable, clean energy, has a state of the art water and sewage treatment plant, has received many national and global ecological achievement awards, and 70% of the designated development space is dedicated to green space. If you are looking to retire in a place with a low cost of living, warm weather, easy access for trips back home and a friendly expat community, Huatulco is an excellent option. March 1, 2024 6 comments 1 FacebookTwitterPinterestEmail
Investing in Mexico Investing in Real Estate in Huatulco: Short & Long-Term Benefits by Brent May March 1, 2024 written by Brent May Huatulco is where we’ve called home for over 13 years. We feel so fortunate to be living here with so many genuine people, warm weather, great new projects, developments finishing and people taking possession. Whether you’re in the market to buy because you are ready to change location full or part-time or you are thinking of investing in real estate in Mexico, this article is for you. Here, we’ll talk about investing in Huatulco, in high-demand real estate, one of the safest and most convenient ways to grow your money in one of Mexico’s top emerging real estate markets. Why Real Estate Investment? Real estate is a tangible investment. As stocks, bonds and the banking sector in general are subject to volatility and even collapse, real estate is a proven, stable way to protect your wealth and an investment that you ultimately control. You decide when to buy and sell. You decide on renting to the vacation market or having longer-term tenants, you decide to reinvest in your property by renovating. Of course, the real estate market is subject to economic cycles but as you likely already know, real estate investments are more insulated in an economically stable or growing region as is the case in Huatulco and Oaxaca state. Read more: Huatulco and the Oaxaca Coast: A Top Emerging Market for Tourism and Real Estate Investment Consider the Local Conditions The profound change we see reflected in Mexico over the past 5 years is the change of place. Many people are exchanging their city apartments for sunny, ocean view homes in Mexico either full time or part time. People are being attracted to the south Pacific towns of Huatulco and Puerto Escondido like never before. They buy or rent longer term since many more people have geographical freedom now in their jobs. Opting for a more laid-back lifestyle where money goes further attracts remote workers, young couples, families and retirees. Families love the opportunities for their children to have a broad cultural experience, to learn a new language and to mix with an international community. Children have opportunities for plenty of activities from surfing to tennis lessons. Read more: The “Why” of Buying Huatulco Real Estate” Short-term benefits of investing in real-estate in Huatulco Invest in real estate through pre-sale pricing Our Mexico Living Investors Club helps you take advantage of pre-sale prices. I negotiate with a developer to get a certain amount of inventory at pre construction prices. Those who get in early are getting big gains from the time construction starts to the time it is completed. Our properties are in prime locations and are filled with endless amenities. Completed move-in ready inventory is limited with many new listings selling in less than 24 hours of being on the market. Rent your new property immediately Another short-term benefit of investing in real-estate in Huatulco is to rent it out quickly. Vacation rentals in Huatulco priorly rented out on average for $500-$5900 USD/week and generally for about 16 weeks per year. This comes to a total average revenue of $11,200 – $100,000 USD + per year. However, now, annual occupancy rates of vacation rentals in Huatulco have increased to an average of over 50% across the board as winter shoulder seasons strengthen and the summer market grows. More Americans and Canadians are coming down in the summer. We’re getting more surfers as one of the best surfing destinations in the world and executive style surfers; people who surfed when they were younger and come back with their families. So, the vacation rental market is actively growing providing you with a good ROI quickly. Long-term benefits of investing in real-estate in Huatulco Appreciation You may buy low, let your property appreciate and sell high. Real estate is increasing in value in Huatulco over time. This is due to the location, commercial and residential development according to Huatulco’s low density master plan, accessibility to quality infrastructure services like Huatulco’s water treatment, and property management services. Keeping your property maintained appreciates its value. Read more: Is It Safe to Drink the Water in Huatulco? Zoom on Huatulco’s World-Class Water Treatment Systems Pre-construction pricing For investors focused on buying and flipping, we have a unique scenario where you partner with the developers. Investors purchasing at early bird Investors Club pricing are receiving gross returns of 25% to 50% over the course of roughly a two-year period and benefiting from strategic tax planning. Higher returns Investing in real estate in Mexico provides higher returns than banking products. We are seeing investors who are concerned about the stock market and want to put their investment in brick-and-mortar, volatility of Crypto, and potential devaluation of Fiat currency, wanting to put their money in beachfront, beach access, and marina front real estate on the Mexican coast. Whether a short or longer-term investment, your real estate investment will provide you with a rate of return above the inflation level. Your real estate assets will grow more healthily and profitably. Sell at your convenience Lastly, you may decide to sell your property at your convenience. You may decide to remodel to increase your property value and to sell at a higher price. Then reinvest to grow your wealth. To sum up, the Mexican economy is strong. Real estate here is generally not supported by mortgages making it a stable investment in the face of interest rate fluctuations abroad. Real estate is mainly purchased and owned with cash. The stability is not all about money though. It’s about lifestyle and quality of life. We are where everybody wants to be. An excellent climate with 340 days of sun per year, sustainably designed, world-class infrastructure, a small-town feel, safe, a long list of activities, an international airport, great cultural experiences, a friendly community, and a solid healthcare system. Plus, a lot of infrastructure development is happening in Oaxaca state. Read more: 5 Key Infrastructure Investment Projects Happening Now in Oaxaca Read our article: Why People Are Moving to Huatulco It does take a lot of knowledge, patience, intuition and the necessary skills to invest in property in Mexico. We are always here to help you reach your goals! The future is bright in Huatulco! Get in touch today! Read more: How To Escape To Mexico…And Why You Would Want To March 1, 2024 0 comment 0 FacebookTwitterPinterestEmail
How To GuideRelocating to Mexico A How To Guide for Online Shopping in Mexico: Furnishing Your Home and Simplifying Everyday Life by Brent May February 28, 2024 written by Brent May When we first moved to the Oaxaca Coast 13 years ago, online shopping was not an option. Home delivery did not exist. Living in Puerto Angel, everyone in our building had the same toasters, coffee makers and mattresses because that was what was available from the one store with home furnishings in Pochutla. It is nice to have the options we do today! Online shopping in Mexico has grown exponentially in recent years, transforming the way people furnish their homes and buy everyday goods. The convenience of secure transactions from the comfort of your home, along with competitive pricing, have made online stores increasingly popular. As a caveat, we always advocate for supporting local businesses wherever you are. What’s more, in all regions of Mexico, you’ll find a colorful, creative array of unique home décor that ultimately supports artisans and local businesses. So before going online for your décor, always have fun exploring the handicrafts of your area and while you’re on trips throughout Mexico. The Mexican Online Market Landscape The bustling online market in Mexico caters to a diverse range of needs, making everyday life more manageable for residents and expats. Online stores offer a huge variety of products, from groceries to clothing and furniture, contributing to the significant surge in e-commerce popularity. The rise can be attributed, in part, to the cost-effectiveness of online stores compared to physical counterparts, as online platforms eliminate maintenance and rental costs. But ultimately, in many areas, the appeal boils down to convenience. Why Online Shopping in Mexico is Essential for Homebuyers For those furnishing homes in Mexico, online shopping has made life easy. Finding and purchasing products quickly, coupled with the cost benefits, has made it a preferred choice. You can easily find furniture, appliances, groceries, beauty products, clothes, and home accessories. Tips for Easy Online Shopping in Mexico While the online shopping experience in Mexico shares similarities with other countries, there are some considerations to make your experience smoother. Shopping in English is a convenient option. Have someone available to receive deliveries. Provide a clear address with references and location is crucial. Pay duties and taxes in advance to avoid customs delays for anything arriving from out of the country. Use a Mexican debit card to streamline your transactions. El Buen Fin, Mexico’s version of Black Friday, is a significant shopping event offering special deals and discounts. Foreign personal credit cards are widely accepted, and the adoption of Apple Pay and digital wallets is on the rise in the Mexican e-commerce market. Best Online Stores in Mexico Amazon Mexico, Mercado Libre, and Walmart are really the go-to online stores for various needs. Each platform offers a unique shopping experience, with competitive prices, fast deliveries, and a diverse product range. Preferences may vary, but these three giants dominate the Mexican online shopping space, providing homebuyers and expats with a one-stop-shop solution. You can buy from the amazon.com site also. Just be aware where your product is shipping from. If it’s coming from outside of the country, there’s a good chance, you’ll have customs duties. Make sure to pay them in advance. Otherwise, it will significantly slow down delivery time and you will not necessarily be informed via the website. Ask us how we know. Where to Go Online Shopping in Mexico When it comes to consumer electronics and home appliances, Sam’s Club, Home Depot, Sears Mexico and Coppel are recommended. For furniture and other home furnishings, online stores like IKEA, Zara Home, Crate & Barrel, H&M Home, Linio and Liverpool are all available in Mexico. Bulk Grocery Shopping is possible via Costco, Sam’s Club, Walmart and Soriana. For other general shopping needs, you’ll find a huge variety of products at Amazon, Mercado Libre, Walmart and Petco. For boutique specialty shopping, you’ll find retailers like iHerb, Sephora and Asos just to mention a few. The benefits of online shopping in Mexico are many, offering timesaving, access to unique products, competitive prices, and the assurance of quality. Language barriers are minimal, and online transactions guarantee secure and reliable deliveries. Make sure you stay safe online by verifying website authenticity, secure connections, and encrypted data transmission. Happy shopping! February 28, 2024 0 comment 0 FacebookTwitterPinterestEmail
Mazatlán Mazatlán’s Coastal Excellence: A Closer Look at Its 7 Certified Beaches by Brent May February 23, 2024 written by Brent May Nestled along the Pacific coastline, Mazatlán, Mexico, emerges as a cosmopolitan beach city destination with an unprecedented achievement – 7 certified beaches. This milestone, orchestrated by the dedicated efforts of the Operadora y Administradora de Playas, not only enhances the coastal experience for locals and visitors but also adds value to the real estate landscape. Mazatlán’s Beach Certifications Operadora y Administradora de Playas spearheads the certification process, ensuring the beaches meet rigorous standards set by the Mexico Platinum Beach Certification Program. These standards encompass a range of criteria, from cleanliness and water quality to biodiversity conservation and environmental education promotion. Certification levels vary, with the Verde Camacho categorized as a “priority for conservation” and Gaviotas labeled a “clean beach for recreational use.” Mazatlan’s Platinum Beaches Among the certified beaches, those with platinum distinctions stand out. Courtyard by Marriott boasts an expansive 87-meter stretch certified at level A, promising a pristine experience. Luna Palace and Estrella de Mar on Isla de la Piedra secured level D certification, emphasizing accessibility services for individuals with disabilities. Additionally, beaches near Holiday Inn and Park Inn attained level D in platinum certification, showcasing their commitment to elevated amenities. Platinum Beach Certification Program & Requirements Platinum certification for beaches, awarded through the Playa Platino program in Mexico, signifies the highest environmental and cleanliness standards achieved by select coastal destinations. This prestigious recognition is a result of collaboration between the Mexican Institute for Standardization and Certification (IMNC), governmental bodies at all levels, and private sponsors. Beaches attaining Platinum status demonstrate excellence in infrastructure, security, services, cleanliness, and the protection of the coastal ecosystem, promoting longevity for local species. To maintain the certification, strict rules must be adhered to, encompassing cleanliness, pollutant-free environments, and collaboration between municipalities and residents to ensure a pristine and healthy beach experience for residents and visitors. In Mexico, a Platinum Beach, as part of the Playa Platino program, signifies a beach’s adherence to rigorous standards for health and sustainability. The certification testifies to the absence of contamination, including trash, hazardous waste, oils, and pollutants, coupled with the implementation of comprehensive safety guidelines and necessary infrastructure. The Playa Platino initiative emphasizes community involvement, responsible tourism, quality service, and environmental preservation, making Platinum Beaches a symbol of commitment to sustainability, cleanliness, and the overall well-being of both the beach ecosystem and its visitors. Read more: Mazatlán’s Innovative Approach to Security and Infrastructure Impact on Real Estate Value Clean, certified beaches are powerful catalysts for enhancing property value. Beyond the aesthetic appeal and recreational benefits, these certified beaches are a commitment to environmental sustainability and community well-being. Investors and homeowners are assured clean shorelines, free from pollutants. Platinum certification symbolizes a commitment to excellence and a higher quality of life. Mazatlán’s local government is committed to expanding certifications for the beaches of the city. Read more: Exploring Real Estate Investment Opportunities in Mazatlán Impact on Coastal Living Certified beaches not only contribute to the aesthetic appeal of coastal living but also guarantee a higher quality of life. Residents and visitors benefit from the meticulous attention to cleanliness, safety measures, and environmental conservation. The routine certification of these beaches ensures that Mazatlán’s coastal charm remains a cornerstone of its identity, making it an enticing prospect for those looking to move to Mazatlán or invest in property here. Mazatlán’s journey to obtaining 7 certified beaches testifies to its commitment to excellence and is also a defining factor in the evolving real estate landscape. The allure of pristine shorelines, enhanced amenities, and eco-friendly practices makes Mazatlán a compelling destination for potential real estate investors and homebuyers. A quality city beach lifestyle, the city’s historical colonial center, evolving economic development and certified excellence positions Mazatlán as one of Mexico’s top emerging real estate markets. Get in touch with our agents in Mazatlàn: By phone: 669 110 3441 By email: info@baysidemazatlan.com Source: Punto February 23, 2024 0 comment 0 FacebookTwitterPinterestEmail
How To GuideInvesting in Mexico How to Secure Your Piece of Mexico’s Economic Expansion Through Real Estate by Brent May February 21, 2024 written by Brent May The New Face of Export Dominance Mexico surpassed China to become the largest supplier of goods to the United States in 2023, marking a significant shift in the global trade landscape. According to data from the U.S. Census Bureau, Mexico’s exports to the U.S. reached a staggering $475.6 billion, exhibiting an annual growth rate of 4.6%. This achievement reflects a 15-year reign for China as the leading exporter to the North American market. Mexico’s Triumph and the Nearshoring Trend The surge in Mexican exports can be attributed, in large part, to the nearshoring trend—a strategic move by U.S. companies to bring their manufacturing closer to North America. Faced with escalating labor costs in China and geopolitical tensions, Mexico has emerged as an attractive alternative for U.S. supply chains. This strategic shift positions Mexico as a key player in fostering economic ties with its northern neighbor. Impact of Protectionist Measures and Economic Realities Janneth Quiroz Zamora, Director of Economic, Currency, and Stock Analysis at Monex, views this achievement as a positive outcome for Mexico. The country’s progress in nearshoring aligns with U.S. companies’ intent to diversify their production across nations, with Mexico emerging as the preferred choice. Alexis Milo, CEO of Miranda-Telekonomics, emphasizes the role of the U.S.-China trade war in boosting Mexican exports. Beyond the pandemic-induced relocation effect, the ongoing trade tensions have propelled Mexican exports to the neighboring country, further solidifying Mexico’s position on the global economic stage. Strategic Implications for Real Estate Investors For investors eyeing opportunities in Mexico’s real estate market, understanding the economic dynamics is crucial. Here are key steps to guide investors in securing a piece of Mexico’s economic expansion through real estate: Research Promising Regions: – Dive into comprehensive research on regions within Mexico showing robust economic growth and stability. Focus on areas with thriving export industries and ongoing infrastructure development. Exploring Mexico’s top emerging real estate markets like Huatulco, Puerto Escondido, Mazatlán and Yucatan State will get you started. Understand Local Real Estate Dynamics: – Gain insight into local real estate dynamics, including property values, demand, and potential for future appreciation. Network with Local Experts: – Build connections with local real estate professionals and agents. Their local knowledge can provide invaluable insights into market trends and emerging opportunities. Focus on Infrastructure Growth: – Prioritize areas with planned or ongoing infrastructure projects, such as transportation hubs and industrial zones. Proximity to these developments can significantly impact property values. For example, Oaxaca has large-scale passenger and freight transportation projects underway, large retailers like Amazon are building facilities in Yucatan state, Mazatlán is renovating the port with transportation infrastructure through Mexico, the U.S., and Canada and an industrial space park is being built. These are just examples of many more projects in these areas. Read more: Huatulco and the Oaxaca Coast: A Top Emerging Market for Tourism and Real Estate Investment Diversify Investment Portfolio: – Explore diverse real estate investments, including residential and commercial properties. Each sector may offer unique opportunities aligned with Mexico’s export-driven growth. Stay Informed on Export Trends: – Monitor export trends and industries driving Mexico’s economic expansion. Aligning real estate investments with these growing sectors can enhance the long-term value of properties. Prioritize Legal Due Diligence: – Conduct thorough legal due diligence to understand local regulations, ownership structures, and potential legal implications related to foreign investment in Mexican real estate. Read more: How To Buy a Home in Mexico – Part 2 Evaluate Risk and Return: – Assess the risk and return profile of potential real estate investments. Consider factors such as market stability, economic indicators, and the overall local climate. Engage in Community Development: – Explore opportunities to contribute to community development projects. Active involvement in local initiatives can enhance your reputation as an investor and foster positive relationships. Build a Network: – Assemble a reliable team, including a legal advisor or notary, real estate agent, and property manager. Having a dedicated team on the ground can streamline the investment process. Read more: The Role of the Notary in Mexico Mexico’s FDI Landscape Beyond its export dominance, Mexico attracted $36.1 billion in foreign direct investment (FDI) in 2023, according to preliminary data from the Economy Ministry. Manufacturing, particularly the auto industry, accounted for half of this investment. The United States emerged as the principal source of investment, contributing 38%, followed by Spain and Canada at approximately 10% each. Seizing Real Estate Opportunities For real estate investors seeking to capitalize on Mexico’s economic expansion, understanding the strategic implications of these economic shifts is crucial. By aligning investments with the growth trajectory of export-driven regions, investors can secure a foothold in Mexico’s flourishing real estate market. Exploring Mexico’s Top Emerging Real Estate Markets: Huatulco, Puerto Escondido, Mazatlán, Yucatan State Amidst this economic transformation, unique markets such as Huatulco, Mazatlán, Yucatan State, and Puerto Escondido stand out for their high quality of life, inviting climate, coastal charm, affordability, and overall quality lifestyle. These emerging markets offer a distinct blend of opportunities for real estate investors seeking more than traditional returns. A Window of Opportunity As Mexico solidifies its position as a global economic player, real estate investors have a unique window of opportunity to be part of this transformative journey. By strategically navigating the real estate landscape in alignment with Mexico’s export strengths, investors can unlock a world of possibilities in emerging markets, contributing to the economic growth of both nations. If you’re prepared to make strategic investments in these top emerging markets, whether it’s an income-generating property or a dream home for your family, now is the time to take action. Our team is here to guide you through the process and help you secure your piece of Mexico’s economic expansion. Contact us today to explore the exciting opportunities waiting for you. Sources: – U.S. Census Bureau – Bloomberg – El Financiero – Economy Ministry of Mexico – MarketWatch February 21, 2024 0 comment 0 FacebookTwitterPinterestEmail
Yucatan Progreso: Yucatan’s New Premier Luxury Coastal Haven by Brent May February 16, 2024 written by Brent May The Yucatan Peninsula, a region known for its rich history and natural beauty, is witnessing a transformation, and at the forefront of this renaissance is Progreso. Once a quiet fishing village, Progreso is emerging as Yucatan’s sought-after luxury coastal destination, drawing the discerning eye of those seeking an unparalleled blend of sophistication and tranquility. In this blog, we explore the evolution of Progreso, highlighting its beachfront properties, upscale dining establishments, and a burgeoning entertainment scene, all of which contribute to its status as a premier coastal haven. From Fishing Village to Coastal Jewel: The Progreso Transformation Progreso’s transformation from a humble fishing village to a luxury coastal destination is a testament to Yucatan’s growing allure. The once-sleepy town has evolved into a sophisticated haven without sacrificing its authentic charm. The real estate landscape, in particular, reflects this evolution, with an increasing number of beachfront properties offering unparalleled views of the Gulf of Mexico. Read more: Yucatan’s Real Estate Investments: Buying Real Estate Around Merida and Progreso Beachfront Properties: Where Luxury Meets Coastal Bliss Progreso’s beachfront properties redefine coastal living, providing residents with a front-row seat to breathtaking colors and the soothing sound of waves lapping against the shore. Bayside Real Estate in the Yucatan has been curating a portfolio of properties that capture the essence of luxury living. From contemporary villas with quick access to pristine beaches to expansive condos with panoramic views, Progreso’s real estate market is now a playground for those seeking the epitome of coastal elegance. These beachfront properties are not just homes; they are sanctuaries that seamlessly integrate with the natural beauty of the surroundings. Floor-to-ceiling windows and expansive terraces blur the lines between indoor and outdoor living, allowing residents to savor the coastal breeze and relish the serene ambiance that Progreso and its neighbors offer. Read more: Yucatan’s Investment Boom: Transforming Into a Sophisticated Real Estate Hub Culinary Extravaganza: Progreso’s Upscale Dining Scene Progreso’s upscale dining scene is growing. From chic seaside bistros to avant-garde restaurants, Progreso’s culinary offerings rival those of renowned coastal destinations worldwide. Seafood takes center stage in Progreso’s food scene, with local chefs elevating traditional Yucatecan flavors to new heights. Residents and visitors can indulge in an array of slow food dishes, from ceviche made with the day’s freshest catch to innovative seafood-infused cocktails that complement the coastal ambiance. However, Progreso’s culinary scene is not limited to seafood alone. The town’s growing cosmopolitan atmosphere is reflected in its diverse array of dining options. Upscale steakhouses, trendy fusion restaurants, and charming cafes line the streets, creating a culinary variety that caters to diverse palates. Entertainment: Progreso’s Cultural Renaissance No luxury destination is complete without a vibrant cultural scene, and Progreso has embraced this with open arms. Progreso is experiencing a cultural renaissance. Art galleries showcasing the works of local and international artists dot the city. The town square, once a gathering place for fishermen, is now a cultural hub hosting live performances, art exhibitions, and cultural festivals that celebrate the unique heritage of Yucatan. Beyond the traditional arts, Progreso’s entertainment options have expanded to include upscale beach clubs, sophisticated lounges, and trendy bars. Residents can unwind against the backdrop of the Gulf’s shimmering waters, with live music and curated events adding to the allure of Progreso’s evolving entertainment scene. Investing in Progreso: A Vision for the Future Investors and homeowners are drawn to Progreso not only for its current appeal but also for the promise of enduring value. Progreso’s metamorphosis into a luxury coastal haven is a testament to the delicate balance between preserving heritage and embracing progress. As Progreso continues to captivate the hearts of those seeking a sophisticated yet laid-back coastal lifestyle, the town and its coastal neighbors offer the echo of waves of the Gulf of Mexico and the promise of a life well-lived in Yucatan state. If you’re ready to explore Progreso and Yucatan state further, get in touch with our agents. Phone: 999 418 4827 Email: info@baysideyucatan.com Read more: Investing Wisely: How To Explore Mexico’s Top Emerging Real Estate Markets February 16, 2024 0 comment 0 FacebookTwitterPinterestEmail