Strong overseas demand for mexico

The Mexico property market has received a timely boost from overseas nationals - primarily North Americans - looking to buy an affordable retirement property in Mexico, reports Overseas Property Professional (OPP)...

Data released by Latin American portal VivaReal.net has revealed a dramatic increase in the volume of enquiries for residential properties in Mexico, with figures up 34% for Americans and 37% for Canadians between September and October 2009. Property in Mexico is now the most searched for destination on the portal.

"There was a huge lull in the last couple of years like it was just switched off," VivaReal's co-founder Brian Requarth told OPP. "A lot of people are still sitting on the fence but 2010 will see even more activity."

The overseas property trade publication also reports that some estate agents, such as Century 21 Sun & Sand, have witnessed an increase in Mexico property sales in recent months.

Heidi Wosak of Century 21 Sun & Sand commented: "Because of the economic downturn, fewer people want to buy holiday homes but more and more people are seeing Mexico as an option for retirement because of the cost of living and healthcare options."

Source: www.homesoverseas.co.uk/news