NOW IS THE TIME TO BUY IN OAXACA: BEST REAL ESTATE VALUE


By DOLORES PÉREZ ISLAS, CEO SILMEXICO

It’s not hard to fall in love with the lifestyle of Oaxaca for all that it has to offer: low cost of living, vast culture, exquisite and mouthwatering gastronomy, gorgeous architecture, historical sites, vibrant local festivals, breathtaking landscapes, relaxing beaches, weather, safety, multicultural environment, and friendly communities. Intrepid expats have begun trickling into this amazing and colorful city. They found a beautiful colonial town, miles of golden-sand beaches, and a Mexican climate tempered by offshore ocean currents and the mountain terrain to make the climate like springtime all year round.

Daily essentials such as groceries and household items are considerably less expensive than in the U.S.A. and Canada. An expat couple can live comfortably on around $1500[1] month, depending on their lifestyle.

The same holds true for real estate. Though prices are rising, they remain affordable due to the depression of the peso during the last few months.

The same holds true real estate. Though prices are rising, they remain affordable due the depression of the peso during the last months. There are many benefits to purchasing real estate in Mexico. The property taxes in Mexico are miniscule compared with those of the U.S. and Canada.

In many areas, especially on the coast, the appreciation can be very high at 50% or more per annum being a realistic number. Above all, buying Mexican real estate is safe and easy.

Foreigners can legally own property in Mexico, and the Mexican legal system protects the rights of foreign property owners.

Heightened interest in Oaxaca is the reason why now is the time to jump on the state’s real estate bandwagon. You can still find reasonably priced, good value properties, but this won’t be the case for long since prices have increased by 15% just last year alone. And, what’s more, with the US dollar at its current strength against the Mexican peso, you have even more purchasing power. Check out this two bedroom home ideal for flipping with a starting price of $135,000! See www.silmexico.com.

Oaxaca is an eminent tourist city which means that there’s a high demand for short term rentals. If you are looking to buy a property to rent out, the right property could yield very strong returns.

HOMES FOR ALL TASTES IN OAXACA

With a population of 3,801,962 and an average annual growth rate of inhabited private homes at 2.4%, Oaxaca is ranked at the seventh place of the most populated states in Mexico and is very attractive for real estate.

Properties in downtown Oaxaca tend to be high price as the entire city is a UNESCO World Heritage site and is considered a prestigious address. But, there are still good deals to be found.

Currently in the market there are exquisitely modernized one or two bedroom condos in Huatulco and Puerto Escondido starting at $215,000. These condos include a living room, kitchen, and many classic features of Oaxaca. They are part of a private and exclusive residential development in a modern community. See http://silmexico.com/realestate-silmexico/.

You can also find luxurious, new villas locate in an exclusive development in Puerto Escondido. These villas are beachfront properties with a garden, pool, and three bedrooms starting at $339,000, a great deal with pre-construction pricing.

There are also elegant and unique homes for sale at $500,000, ready for flipping in the downtown area. These homes feature magnificent colonial fronts, balconies from the 18th and 19th centuries, an adobe, and beautiful terraces surrounded by boutiques, coffee shops, mezcal bars, restaurants, and galleries – all of them with an air of “real life.”

If you’re interested in home values, keep in mind that the values may vary due to the location and property type. Call SILMEXICO to help you discover the best option for you.Contact us 51 58957, www.silmexico.com, info@silmexico.com, dolores@silmexico.com

[1] All prices in are in USD

 

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