In 2022, around 40% of real estate sales in Mexico City were to foreign buyers, and according to Mexico Sotheby's International Realty, this number will go up to 60% this year.
The fees and taxes homeowners must pay in places like the U.S. and Canada have continued to climb over the last decade. Rises in house and community taxes have out-stripped inflation and maintenance costs are steep, putting a lot of pressure on people with fixed incomes. In Mexico, homeowners enjoy low property taxes as well as lower maintenance costs due to lower material prices and labor fees for house maintenance services.
Now more than ever, binational investments are key to our growing economy. However, those who are interested in binational investment need to ensure that they are educating themselves before investing. This will allow them to buy property on both sides of the border the right way and minimize their risk. Such education should include learning what your financing options are for USA-Mexico investments and how to handle binational relationships. With proper education, these investments will help one’s finances and the U.S. real estate market.
Those interested in learning more can attend the Real Estate Summit Across Borders at the Sheraton Downtown Phoenix on Friday, June 9. The Real Estate Summit Across Borders will host over 1,000 professionals and offers attendees the opportunity to become a part of a robust, bilateral economic ecosystem that results in new development opportunities and expanded relationships. The conference programming provides key opportunities to acquire valuable information on real estate, investments and regulatory issues from industry leaders in both the United States and Mexico.
Mary Rabago is a public speaker, business consultant, entrepreneur, independent journalist and marketing agent. She has over 20 years as a Spanish journalist reporting local, national and international news. Rabago currently serves as president of Mary Rabago Productions, a multimedia company that produces radio and television productions that highlight five critical issues affecting daily life: health, education, politics, immigration and finance. Learn more at maryrabago.com.
