International investors, particularly American and Canadian buyers, have been returning to Mexico, as economic activity normalizes after the Covid-19 pandemic. They are snapping up properties in coastal areas like Puerto Vallarta and popular retirement areas such as San Miguel de Allende.

In fact, even during the pandemic Playa del Carmen, one of the largest cities on Mexico’s Riviera Maya coastline, has seen a sharp uptick in demand from homebuyers seeking refuge from pandemic-related lockdowns. «We have a lot of clients from New York, and a lot of people are looking for beachfront houses so they can enjoy life on the beach if there’s another lockdown, instead of being stuck in a condo in the city and hating their family, said Jason Waller, the owner of Playa Real Estate Group.

American buyers are very important as owners of beachfront properties in the country. More than 1 million Americans live in Mexico, and more than 500,000 own homes in the country, according to a Forbes article. In fact, an earlier article published in 2018 by Point2Homes ranked Mexico first among 30 favorite US and Canadian destinations for second home searches. Five years later, a 2023 article by Point2Homes still ranked Mexico as the top destination for U.S. homebuyers.

«Mexico remains undefeated: With more than 130k monthly visits, this land of endless, dazzling beaches and rich culture continues to attract buyers, despite a more subdued increase in interest in the last 12 months,» noted the Points2Homes article.

Some of the most sought-after Mexican destinations on Google include Puerto Vallarta, Cancun, Playa del Carmen, Cabo San Lucas, and San Miguel de Allende.

Source: Global Property