I have visited the Ixtapa and Zihuatanejo areas several times and always keep an eye on the real estate scene there. It is one of the lesser known investment areas for Americans and Canadians. There aren’t dozens of daily flights offered like you see in the most famous vacation spots in Mexico. As in Huatulco, many buyers hear about the good values in the Zihuatenjo real estate scene orally. As the slowdown in travel continues and the economy in both Mexico and the world is in trouble, inventory is high and the market is less volatile.
When times are good, the property markets for foreign buyers in Mexico are powered by all of the money being withdrawn from the soaring US market. People take out a home equity and buy a home overseas, or they sell one in the US and buy something bigger and better in a place with better weather. Then, when there’s a recession like the one we had a decade ago and now have again, houses sit longer in the market and prices stop rising.
If you are liquid enough to buy property outright, there is plenty to choose from in Zihuatanejo, especially at the higher end of the property market. There are many houses with great views and equally gorgeous interiors. Usually they are sold furnished. Once the paperwork is done, just bring your clothes and move in.
Don’t expect a foreclosure deal, however: it is difficult to get adequate funding in Mexico, so most people own their homes directly. This allows them to be much more patient, unless circumstances dictate a sale. Even if you hear that a home has been on the market for three years, that doesn’t mean the owner will be giving it away for below market price.
However, it is best to take your time exploring the property options in Zihuatanejo (mostly houses with views), Ixtapa (mostly condos and golf course houses), and the slightly sleepier Troncones on the coast. There are townhouses, sprawling houses that stand alone, and villas that are part of massive developments with public facilities. You can find something that was built 30 years ago or a condo in a building that is still under construction. Here you have control over the layout and the interfaces.
If you follow the link on the story you will find a lot more details and some photos that you might want to use to book a flight right away. Luxury property with a view in Zihuatanejo
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