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Second Homes
The immigration of retired US and Canadian citizens to Mexico began in the nineties. Currently there are more than one million North Americans living in the country. According to the Mexican Association of Real Estate Professionals (AMPI), these represent 25 percent of US citizens who live abroad. Given the group’s demographic tendency, Softec estimates indicate that 10 percent of the 80 million US citizens who will retire over the next 20 years will move to Mexico.
Mexico is an interesting destination for foreigners seeking a second home, both because of its attractions –beaches, pleasant climate, biodiversity, cultural heritage, services, infrastructure and historical sites– and because of the low cost of its real estate. This is why International Living magazine, in its Annual Retirement Index 2008, has rated Mexico as the “Best country in the world for retirement” for the second consecutive year. In particular, it cited the availability of modern services, access to quality health services, good real-estate opportunities and the wide range of attractions. In 2007, 18,000 second homes were sold in Mexico, representing 52.5 percent growth over the previous year.
