Every thing About Mexico

In the aftermath of the global recession which saw its peak in 2009, many homeowners were expecting an accompanied turn around in the U.S housing market. Experts, however, have identified some compelling evidence that on the contrary there may actually be a “double dip” on the horizon.

For investors, this means that it is more appealing to seek other options in the meantime, such as the Cancun property market, which showed much better resilience, and has managed to maintain the confidence of even U.S. buyers. The following are some points about the Cancun market which makes a good investment alternative.

Growing Demand: Even while the market is at a stand still back home, many Americans are still interested in Mexico condos in places like Cancun, both for purchasing and for vacation rental. Complemented by a large number of buyers and vacationers from other countries, this has returned the demand to a healthy post-recession status, making it possible for investors to find properties with good return.

Sustainable Price Growth: On the whole, the Mexico real estate market was little affected by either the 2006 bubble or the recession; the pockets of coastal areas, like Cancun, where most Americans buy, saw a temporary slow down with price reductions that are disappearing quickly. But the return to the steady price growth in these areas is already clear. While hesitant to sell or buy back home, even Americans are buying in markets like Cancun.

Purchase Option Diversity: While the job situation in the U.S. has caused many would-be new home buyers to live with friends and family instead, virtually shutting down this driving force of the real estate market, new Cancun properties are continuing to sell, offering options such as partial ownership for those who cannot afford the price of complete ownership of a new condo. Developers and owners trying to sell have been creative in finding new options to make property purchase appealing. The increasing availability of bank mortgages and direct seller financing (also an official bank process) for Cancun homes and condos are closely tied into this.

If you are an American looking for an investment, you can either wait another year or two for rock-bottom, then invest in a market that is only expected to recover very slowly even then, or you can consider a market that is in a relatively healthy state now – like Cancun. Which sounds better?

Mexico’s international real estate industry is closely coupled with the international tourism industry, which attracts money and investment for services, restaurants, golf courses, marinas, shopping areas, excellent roads, and much more. Good news is trickling in. The latest been that in 2010, Mexico is showing a sure signs of recovery from the recession.

Regions which are forecasted to see benefits from this include Baja California and the Pacific Coast, with booming markets such as Ixtapa real estate, Puerto Vallarta, Mazatlan and La Paz real estate. Also Yucatan Peninsula markets such as Campeche, Merida, Cancun, Playa del Carmen, Tulum, Costa Maya and Cozumel real estate are also enjoying the enjoy positive effects from recovering tourism.

The tourism recovery can best be noted in the data from the month of March, a high point in tourism traffic. During this month, 7.87 million international tourists (largely from States and Canada) visited Mexico, each spending an average of $169 dollars, for a total of $1.3 billion of tourism revenue, an increase of 6.6 % over March 2009. The average spending of $169 dollars per visitor is a 5.6% increase from last year.

Real estate buyers in Cozumel and Costa Maya especially, but also in the Pacific coast locations, will benefit from the increase of cruises to Mexico, as passenger numbers increased significantly, reaching 720 000, an increase of 13.6%. These two locations are especially tied into the cash flow generated buy cruises, and many real estate buyers first visit the area on a cruise.

As one of the world’s top tourism and real estate destinations, Cancun showcases an increasing number of attractions and cultural aspects to tourists and residents.  Recently, Cancun Real Estate region has received the exciting news that the expansion of the Cancun International Airport and the building of “Cancun Messe” – an international exhibition center – will bring new opportunities to real estate buyers for both easy access to more parts of US and world, and new investment and growth opportunities as Cancun grows to meet the demands of international business.  Lifestyle in Cancun is likewise expanding in international-level innovation. One example of this trend is the new Underwater Sculpture Museum, which passed a milestone at the end of November.

This museum is one of a kind on a world level with a large number of sculptures in a marine park, surrounded by coral.

The Cancun Underwater Sculpture Museum can be viewed by diving with professional guides. The tour will cost between $40 and $60 US, depending on the duration, which may be between two and eight hours – a very unique and interesting experience for both visitors and locals.

The first three sculptures were lowered to a depth of between three and ten meters, between the West Coast National Marine Park of Isla Mujeres, Punta Cancun and Punta Nizuc.  The first was placed at 750 meters from shore in Punta Nizuc and the others around the “Manchones” coral Manchones at about 3 miles and 2 miles from Cancun, in the direction of to Isla Mujeres.  Abraham Diaz said that works are The Flower of Hope, The Collector of Dreams and The Man in Flames, weighing three tons each, on average.

Tthe museum’s first phase is to be completed in 18 months, in May 2011, when the 400 sculptures have been submerged. The cost of each statue varies between $875 and $1000 US. The Underwater Sculpture Museum will have 27 rooms, of which, in a year and a half, three will be open: Punta Nizuc, Manchones and La Carbonera.

A room dubbed “Silent Evolution” is the most ambitious and it is expected to attract a large number of visitors, because it will contain 150 sculptures, displaying the history of Mexico, starting with the Mayans, moving forward with the Conquest, Independence, Revolution, to the contemporary period.

The sculptures were moved from the workshop of the artist, the British sculptor Jason de Caires Taylor, located in Puerto Morelos near Cancun’s hotel zone.

The project is multifaceted and could evolve into very interesting areas; it provides a forum to build submarine infrastructure that could host symphony orchestras and ballet exhibitions under water, an avant-garde idea that is just beginning to be experimented in England and Australia.

The National Marine Park was visited by 750 thousand people in 2008.  This year, because of the recession and slowing of world tourism, there was a reduction of 30 percent in visitors. With economic recovery expected in 2010, it is estimated that the museum will reach one million visitors.  This museum will most certainly add to Cancun’s excellent draw for tourists, continuing to expand the economy and Cancun Real Estate opportunities.  As mentioned above, such attractions will offer real estate owners a unique lifestyle, with a large selection of interesting distractions from day to day life.Underwater Museum Started

Many Mexico real estate buyers are eagerly waiting for new updates regarding international airport as it can have major bearing on Tulum tourism and real estate industry. With around 17.9 million tourists expected to visit the Riviera Maya zone by the year 2025, 2,800 new jobs being created each year in this booming region, and 3 million passengers per year projected to flow through the new airport, any news regarding the Airport grabs headlines.

Due to the high demand experienced over last few years and the trends in the market of international visitors to the Riviera Maya has placed airport construction as one of the most important projects in Mexico. Projections show that direct jobs that have been created in the region have been creating nearly 2,800 new jobs per year. With increased job creations, there will influx of people from other regions creating demands not only on the Tulum region but also the Playa del Carmen real estate market, the Cozumel real estate market and various other towns of Quintana Roo

Once the basis for the bidding have been announced, the SCT will take 6-12 months to review the bids and select the winning contractor The time period for construction is around 3 years. ASUR, a contractor and administrator of airports in the southern half of Mexico is one of the leading contenders They currently operate the Cancun and Cozumel Airports in Quintana Roo.