Real estate investment in Baja California has experienced accelerated growth thanks to the Mexican-American community, which is looking for properties both on the coast and in strategic urban areas, said real estate agent Luis Bustamante.
The director of Bustamante Business Center also said that their purchasing power and strong cultural connection with Mexico have made them key players in the purchase of homes and land in the region, which is reflected in the large number of real estate developments that have been built.
“75% of the owners in this area, from Tijuana to Ensenada, are Mexican-Americans or Americans who have found their second home here, a trend that has been consolidated in recent years, especially in the Coastal Zone,” he said.
He explained that the factors behind this phenomenon are diverse, such as proximity to California, affordable prices compared to the American market and the possibility of acquiring properties with financing in dollars have driven demand.
He also commented that the pandemic reinforced people’s interest in looking for larger spaces and quiet environments, something that Baja California offers in abundance.
Luis Bustamante said that while coastal areas have been the main attraction, buyers have begun to explore other areas within Tijuana, especially places close to the border, such as Centro and Avenida Revolución, which have captured the attention of investors looking to combine quality of life and affordable costs without moving away from their jobs in the United States.
“The possibility of financing properties with credits obtained in the United States has been a key factor in this trend. Many buyers use lines of credit for capital gains to pay in cash in Mexico, which speeds up transactions and ensures better investment opportunities,” he stressed.
On the other hand, the real estate advisor commented that Mexican financial institutions have facilitated access to financing by accepting credit histories and proof of income from the United States, allowing Mexican Americans to acquire homes with competitive rates in pesos.
In addition to the interest in housing, investment in large plots of land has increased significantly, especially for tourism and commercial developments, as more and more investors are looking for large spaces for high-impact projects.
Luis Bustamante pointed out that with a combined GDP of $3.6 trillion dollars, equivalent to the fifth largest economy in the world, Mexican-Americans represent a considerable economic force, so their participation in the binational real estate market not only strengthens the industry in Baja California, but also reinforces commercial ties between both countries.
As this community continues to expand its presence in the sector, Baja California is emerging as a strategic destination for investors seeking stability, added value and proximity to the United States, he concluded.
Source: diariotijuana
