According to the study, Canadians love to buy real estate in Mexico. As with a similar report released by Point2 Homes in 2015, Mexico stands out as the first choice for Canadians buying houses & apartments for sale abroad. The preferred location for Canadians within Mexico is Playa del Carmen, one of the fastest-growing real estate market in Latin America.
Best Destinations for Canadians.
According to Harrison Mooney for Vancouver Sun, a new study from international real estate search portal Point 2 Homes ranks the top 30 home-buying destinations for Canadians.
The research is based on Canadian users’ Google searches conducted from January 2017 to January 2018, using keywords regarding homes in the Americas for sale abroad. The countries have been ranked by monthly search volume.
This article may interest you: 7 Reasons To Invest in Real Estate in the Riviera Maya.
Where Canadians are buying real estate in Mexico?
According to the study, Canadians love Mexico. As with a similar report released by Point2 Homes in 2015, Mexico stands out as the first choice for Canadians buying abroad.
The preferred location for Canadians within Mexico is Puerto Vallarta, with 2,940 monthly Google searches. Playa del Carmen, the fastest-growing real estate market in Latin America, is second, with 1,470 searches. Cabo San Lucas is third. Vancouverites will groan when they see what their money can buy in Mexico, where the average home selling price is just $52,325 CAD, more than 10 times less than it is in Canada.
The second-most popular nation for Canadians seeking a second home might surprise you: it’s the United States, which has risen up the list since the last Point2 Homes report in 2015. Three years ago, the U.S. was fourth on the list, but Canadians are clearly seeing the appeal of the real estate market south of the border, where $600,000, the median price of a home in Canada, can net you a four-bedroom house in the warmer climates of Texas and Florida, or a five-bedroom house in California.
Hola! My name is Conrad, I’m a real estate strategist here at PIM Real Estate in the sunny Mexican Riviera Maya. Just like yourself, I started dreaming of moving to this beautiful part of the world a few of years ago and thankfully things worked out great for me. So I’m excited to use my experience in the area, my real estate knowledge and our company’s resources to help you get clear decisions to build YOUR reality.
