Merida, Yucatan, Mexico
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Merida, Yucatan, Mexico
This colonial town is a relatively unknown emerging new destination. Fortune magazine rated it one of the top 5 international picks for residential real estate investment in 2005, and the region, with its huge number of Mayan ruins, excellent beaches, year-round sun, and proximity to the US, excellent healthcare system, and low crime rate, are making it an attractive market for artists, retirees, and tourists alike. The real estate market is still emerging, following changes to the law of ownership, making it possible for foreigners to own property in coastal regions through a trust system. This progress in the legal environment and the re-emergence of credit are adding strength to growth seen on the back of renewed interest in the region for its tourism charms.
Houses in the area are still relatively cheap, though the increasing interest in the market is starting to accelerate price increases from a "stately" annual rise of 15% to something higher.
These are some links to other websites that you might find useful:
A useful introduction to all things going on in the Yucatan, sites to see, things to do, etc. There are sections on real estate, that list all of the local agents, as well as detailed information on life in this wonderful part of the world.
This site is the insiders look into the gringo community in Merida, with tons of advice on life here, as well as some gossip, and information about other goings on. A very useful site, with plenty of tips and honest opinions.
A site that gives good insight into life in the Yucatan.
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