Reason #1: Mexico, a Warm and Accepting Country

by Enrique (Henry) Saldana  (September 2012)

The warm and accepting ways of the Mexican people, in addition to the beauty of its beaches, diversity and richness of its culture, and ancient ruins and more, are an important part of Mexico's tourist attractions, which draw a big number of tourists each year.

The number of people visiting Mexico in 2011 was 22.67 million, growing 2% from the previous year. Mexico is ranked as the 10th most-visited country in the world, according to the World Tourism Organization.

This creates, in spite of the bad publicity resulting from the drug lord wars, an important part of Mexicos Gross National Income, since it permits Mexicans to participate in the economic impact provided by the tourism industry in the country. In addition there are increasing numbers of foreigners investing in real estate in Mexico year after year.

Unfortunately the lack of established laws and legislation, at all governmental levels, that could provide legal protection and guarantees to foreign investors, continues to hamper and overshadow any opportunities for growth, primarily in the real estate industry which is what we are concerned with in this series of articles.

And here is an example of one such unfortunate experience by foreign real estate investors in Mexico:

The Peñasco Fiasco
At the end of this dusty, dirt road, half-built casitas bake in the sun a few miles from the beaches of Puerto Peñasco, Mexico, better known as Rocky Point to the tens of thousands of Arizona tourists who visit here each year. Paint peels from two of the vacant models, surrounded by nothing but sand dunes. A nearby "golf course"—void of any fairways or greens—is identifiable only by a rusty sign in the desert sand.

Across from the casitas, a weather-worn billboard advertises the luxurious amenities of a planned Mexican country club and golf resort. It's one of the few remnants of the seductive deals that enticed hundreds of Arizonans to invest millions in these now-defunct Mexican condos, casitas and hotels.

Seven years ago, throngs of Mexican pol