Archive for November, 2008

Mexico ‘offers cheaper healthcare’

November 28th, 2008

More people are choosing to travel to Mexico to get medical care, it has been claimed.

The US has become a particularly important market for Mexico’s health industry because medical expenses can be expensive in the country, reports Time magazine.
Grand Coral Riviera Maya

A number of border states in the US are affiliated with medical facilities across the border.

This could be advantageous for those with property in the country as travellers looking for cheap healthcare may choose to rent homes in the sun to fully recuperate and take advantage of their trip.

The physician-managed MedToGo in Arizona, said clients could save “up to 75 per cent” on medical bills by heading south of the border to get work done.

Proximity to the US is also a big consideration - as a US Christian hospital group points out, Mexico is only one hour 37 minutes from Houston.

Those who travel to Mexico on holiday or for medical reasons may wish to consider buying a property on the Yucatan Peninsula, which is a “safe, satisfying” holiday destination, according to the Los Angeles Times.
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Yucatan Peninsula ‘could attract eco-tourists’

November 26th, 2008

Property buyers looking for potential buy-to-let investment may wish to consider a home on the Yucatan Peninsula.

According to the Los Angeles Green Life Examiner, the Mexican tourism hotspot may be an attractive destination for leisure travellers interested in ecology and the environment.

One of the area’s offerings is a 1.3 million-acre biosphere reserve, which boasts a population of tropical monkeys, sea turtles and mangroves among other natural and ecological attractions.

Holidaymakers with a love of history and culture might enjoy the regions ancient Mayan ruins.
Tulum near Grand Coral Riviera Maya

Referring to those who take breaks on the Yucatan Peninsula, Vicky Godal, writer for the Examiners commented: “That’s a beautiful way to vacation.”

With its status as the only Latin American country to feature in the top ten tourist destinations, according to the World Tourism Organisation, Mexico is likely to continue to enjoy a large influx of tourists.

This may be welcome news for investors who have accommodation to rent out in popular destinations for leisure travellers.
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Spain is a ‘buyers market’

November 26th, 2008

Property buyers looking to purchase a house in Spain should find that it is still a buyers market, according to an expert.

Nick Stuart managing director of Spanish Hot Properties, said that both falling property prices over 2008 and the current economic climate has meant that developers are increasing eager to offload homes in the Mediterranean country.

He noted that overseas property investors looking for homes in Spain could find discounts as large as 40 per cent.

Mr Stuart asserted that people who want to purchase a house on the Costas should do so in 2009 as this is “the year to do it”.

He said: “Nothing has really changed its just compounded itself in that it is even more of a buyers market and even a worse time to sell.”

Investors interested in rental property might be encouraged to learn that Monarch Airlines is currently working with the Andalucian tourist board to promote breaks in the region.
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Pensioners ‘considering leaving UK to escape recession’

November 26th, 2008

A recent study has revealed that increasing numbers of pensioners are considering leaving the UK to escape the recession.

According to insurance provider RIAS’s report, one in ten Britons over the age of 50 are “seriously” considering relocating to countries such as Spain.

This is on top of the 400,000 people who have already planned to leave Britain for financial or lifestyle reasons.

Janet Connor, managing director at RIAS, said: “It can be difficult for people who have worked hard all their lives to face a financially restricted retirement here in the UK.”

Santa Pola Life ResortSanta Pola Life ResortSANTA POLASANTA POLA LIFE RESORT

She added that there are a number of attractions in Mediterranean countries, such as low-cost housing, a warmer climate and lower living costs.

The prediction of the European Commission that Spain would have a speedier economic recovery than the UK was also cited as a strong reason to expatriate, Ms Connor said.

Shelter Offshore recently noted that locals as well as holidaymakers are choosing to rent property in Spain due to the imbalance between annual earnings and property prices - news that may be of interest to overseas property investors in the Iberian nation.
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Mexico tipped to recover from economic crisis in two years

November 25th, 2008

Mexico will recover within two years from the economic crisis gripping the world, an expert has claimed.

According to Roberta Cabrera, a partner in charge of KPMG’s risk advisory services in Mexico, the nation will experience a one per cent growth in its gross domestic product (GDP) this year.

CHICHEN ITZA, YUCATAN

She noted that the country should boom by a further 1.2 per cent during 2009.

Ms Cabrera said: “It will take approximately a period of two years for Mexico to recover from the economic crisis.”

A survey conducted by KPMG found that 37 per cent of companies think the dip in the economy will provide them with investment opportunities.

As companies look to capitalise on the crisis, there could be a higher demand for rental accommodation from foreign business people - which might benefit those with property in Mexico.

In related news, the Yucutan peninsula was recently identified as a favourite holiday spot by the Los Angeles Times, which could make it an attractive region to buy a property.
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Investors advised to buy in sterling

November 25th, 2008

Overseas property investors have been advised to use sterling to purchase homes in Spain.

According to Martin Dell, of Kyero.com, converting funds into euros could make properties more expensive due to the decline in the value of the pound, reports Homes Worldwide.

He noted that a property costing €100,000 would cost £86,000 at the moment but if purchased last week it would have been priced at £78,000.

Mr Dell said: “If you are contemplating purchasing a property in Spain worth hundreds of thousands of Euros, the extra cash you now need represents a significant hike in an already difficult market.”

He added that UK investors may find that the currency differences will work in their favour if they acquire a home in Spain using sterling rather than euros.

Shelter Offshore recently stated that investors are looking at the downturn in the country’s property market as an opportunity to make a profit.

The online portal claimed that buyers are viewing Spanish property as long-term money-making acquisitions.
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Rise in new-build properties looking for buyers in Spain

November 25th, 2008

A high number of new-build homes are without buyers in Spain, it has been suggested.

According to Spanish daily newspaper El Pais, there was a 20 per cent rise in new-build homes without purchasers during the first six months of 2008, reports Homes Worldwide.

With a glut of houses without buyers, overseas property investors may be able to pick up cut-price new-build homes.

The article based its claim on new research from the Ministry of Housing and the University of Navarra, which showed that there were over 500,000 homes on the market, at the end of June.

The demand for properties declining, investors could acquire a bargain in the Iberian nation.

In related news, property consultants Aguirre Newman recently claimed that prices in Spain need to fall by 23 per cent in order for them to fall in line with the average household’s income in the country, reports Kyero.com.
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Yucatan Peninsula identified as a ‘favourite vacation spot’

November 24th, 2008

Investors looking for an overseas property in a popular tourist location may wish to consider the Yucatan peninsula.

The Los Angeles Times identified the region as one of the top five tourist destinations in Mexico, saying that it has a property to fit “practically every budget”.

With its “calmer environs”, the area could provide buyers with ample opportunities to earn an income from renting out homes in the region.

Grand Coral Riviera Maya

Purchasers can acquire high-quality luxury homes, or basic “palapa-style” bungalows if they are have more limited funds.

Reed Johnson, of the LA Times, said: “Either way, you’ll get access to the Platonic ideal of what a beach should be: miles of white sand lapped by calm, warm, turquoise waters.”

He added that the area offers opportunities to visit late Mayan ruins situated at Tulum.

In related news, Volaris and Southwest Airlines have entered a code-sharing deal which will enable tourists to purchase tickets from each carrier for the other airline’s flights, which include trips to Mexico from 2010.
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Obama wants to ’support Mexican economy’

November 24th, 2008

Newly-elected president of the US, Barack Obama, has said he want to help support the Mexican economy when he takes over from George Bush.

According to Dan Restrepo, Obama’s main advisor on Latin American affairs, working with the Mexican government to help the country’s economy will be one of the politician’s aims, reports Mexidata.info.

Mr Restrepo said: “The US must once again be present in the region as a positive partner that wants to work together with Latin American governments.”

He noted that Mexico and the US are “tied by trade, investment, remittances and tourism”.

This is likely to prove good news for investors considering purchasing a property in the Central American country as stronger ties with the US could see more tourists in Mexico and an increased demand for rental accommodation.

Southwest Airlines recently announced that it is entering a code-share agreement with Mexican carrier Volaris, which will allow Southwest’s customers to book flights to Mexico using both airlines, reports Pacific Business News.
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Property prices ‘need to fall 23 per cent’

November 24th, 2008

Experts have suggested that in order for property in Spain to become affordable again, prices must fall by almost a quarter.

According to a report by property consultants Aguirre Newman, housing costs will only line-up with the average household income in Spain by declining 23 per cent, reports Kyero.com.

The study focused mainly on primary housing, so the cost of certain favourite holiday destinations, such as coastal resorts and luxury housing, is not taken into account.

It identified over-pricing as a major problem, noting that additional pressure has been put on the sector by the credit crunch and declining consumer confidence.

With house prices continuing to fall - October was the eighth successive month in which this happened - now may be a good time for investors to purchase a property in the Mediterranean country.

October saw house prices fall by 6.5 per cent compared with the same time the year before, a bigger decline than in September when Tinsa reported that the market saw a 4.9 per cent decline.
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