This is hardly surprising, as Cancun has grown over the last few years and is now recognised as a power to be reckoned with in the global marketplace. Cancun has enjoyed considerable investment from a range of sources, including industry and tourism.
As one of the leading cities in Mexico, it is unsurprising that there are plenty of people considering investing in Cancun property. Cancun has also attracted plenty of investors over recent years as, unlike the more remote parts of Mexico, it has a well-developed transport and communications structure, making property in this city less of a perceived risk than other more remote areas.
There is no denying Cancun's appeal to both tourists and property investors. This region is the place to be for those looking for state of the art facilities and some of the most dynamic nightlife in the country. As well as the modern facilities, there are some stunning beaches that boast unrivalled surfing and other water sports such as sailing and scuba diving.
Cancun is actually an island off the coast of Mexico. However, the substantial bridges connecting the island to the mainland mean that this island is connected at both ends and the links make the area entirely accessible to both permanent residents and tourists.
Investing in property in Cancun is relatively new, particularly as the island only really started to develop in the late 1960s, with tourism really starting to take off in the 1980s. As a tourist destination, Cancun has really boomed in the last five years, causing property prices to grow by nearly 50 percent, in some of the more popular parts of the island.
In fact, the tourist industry in Cancun has grown so rapidly that there is now a widely recognised ?Hotel Zone? with more than 20,000 hotel rooms, most of which are fully booked during the high season.
Although hotel rooms are very popular, there is increasing demand for self-catering apartments and quality accommodation for independent travellers. Airlines are becoming aware of the popularity of Mexico and as a result there are now plenty of flight choices for visitors, thus further increasing the popularity of self-catered properties.
Although the self-catered market has grown rapidly, it still centres largely on the beach apartments that are close to the tourist amenities.
New build apartments are generally considered a good investment, with solid capital growth and an ever increasing number of tourists travelling to the region. These trends not only promise good capital growth but also strong rental yields of around 6 to 10 percent, annually.
Apartments are available from as little as 100,000 US dollars, with larger villas available for around 150,000 US dollars.
There is also considerable development opportunity in and around Cancun, with land available at really reasonable prices, allowing more ambitious investors the opportunity to plan and build their own property or even apartment block!
Cancun is very much on the up and is hugely attractive to tourists, worldwide, making this a real property hotspot!
If you live in the United States, you've probably grumbled about the cost of health care, but learned to live with it-but should you have to? Many Americans who have purchased property in Mexico have discovered even greater wealth than that of their fast rising property values. Every person who lives on Mexican soil has access to a high quality, extremely low-cost public heath care plan called the Instituto Medicina de Segura Social, or IMSS.
"Low cost" is a generally a subjective assumption depending on your experiences. However, if you've been living in the US, you'll certainly agree that low cost is an accurate way of describing the cost of Mexican health care. The cost of health insurance in the US can be between $5,000 and $7,000 a year-and that's just for the insurance. It doesn't including deductibles, medications, and procedures that aren't covered. If you're covered by a group plan at work, you may not miss the amount deducted from your check each pay period, but when you're ready to retire, you'll suddenly be burdened with a tremendous cost.
For those that own property in Mexico, the cost of heath care per year through the IMSS is $399 US dollars. That works out to be less that what most Americans are paying each month for comparable health insurance in the United States. To put it into perspective, after paying one year of coverage for $5,000 in the US, you could have paid for 12.5 years of health care coverage in Mexico.
You're might be assuming now that the quality of health care in Mexico must be substandard for a price that low. Not true. Most doctors and surgeons are trained in the United States. Just ask the thousands of Americans who have bought property in Mexico and are enjoying a healthy, tropical lifestyle. The difference is that the health care policies in Mexico are designed to keep costs low for full time residents or anyone who owns property in Mexico and lives there for even part of the year.
If you've got a preexisting condition in the United States, you may not even qualify for US health care coverage. If you do, you'll most likely be paying a lot more for coverage and may even have to pay out of pocket indefinitely for treatment relating to your preexisting condition. Under the IMSS plan however, a preexisting condition is covered after only 2 years. In the meantime, the cost of medical treatment paid completely out of pocket is often less than the cost of health care in the United States.
For example, one resident with no health insurance whatsoever reported that the full cost of a heart transplant and a month's worth of daily, in-home doctor visits after the surgery cost a total of $8,000. In comparison, a study by the Hospital Price Survey Report reveals that the average charge of a heart transplant surgery in the United States is $425,129-fifty-three times more expensive than in Mexico.
So while those who are buying property in Mexico are realizing great returns on their property investments, they're also saving a great deal of money on everything from health care to electricity to groceries. There are the non-monetary investments in yourself such as the less stressful "manana" lifestyle, the abundance of fresh fruits and vegetables, and the ability to connect with a more tranquil, beach front environment.
Both Tem Pearson & Christine Harrell are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Tem Pearson has sinced written about articles on various topics from Property Investment, Marketing and Parenting. Providing essential information on buying property abroad, Tem Pearson is dedicated to offering all the necessary information for people looking to buy property in different countries. Visit. Tem Pearson's top article generates over 22200 views. to your Favourites.
Christine Harrell has sinced written about articles on various topics from Mortgage, Careers and Job Hunting and Personal Desktop. Author is a writer for Trans Caribbean Trust who specialize in finding . For more information you can visit. Christine Harrell's top article generates over 550000 views. to your Favourites.