Mitch Creekmore, the Multinational Business Development SVP with Stewart Title—and our Featured Partner—follows the International Community Foundation (ICF), too. His report, posted late 2011 on the Boomer’s Abroad blog, notes the 2012 forecasts for buyers investigating Mexico for an affordable retirement or second home.
Mitch notes that home prices in Mexico continued to decline in 2011, creating great buying opportunities for those in the market for a new home. Residential prices are down 30 to 50 percent from 2008 values, according to Mitch.
He also notes that Mexican bank-financed transactions are on the upswing—for buyers needing a loan—by both BBVA Bancomer and Scotia Bank. Both Americans and Canadians are finding more affordable financing options lately.
So who will be buying these great bargains? The ICF reports that 4,000,000—yes, readers, that’s four million!—more expat retirees will relocate to Mexico by 2025, a mere 13 years away. That’s over 307,000 buyers each year looking for their next new home!
We suggest they look in San Miguel de Allende first! At Alma Realty San Miguel, we can help home buyers find everything from the most affordable view lot in all San Miguel, to a turnkey condo for move-in ease, to hillside mansions with million-dollar views.
Come in and ask us about your options today: the next 306,999 buyers can wait!