According to the US-based National Law Center, a research institute in Tucson, Arizona, US and Canadian property ownership in Mexico, which accounts for 90 per cent of foreign ownership, has more than doubled in the past decade in the most popular areas, and is growing more than 10 per cent a year. Some estimates suggest that up to 100,000 US citizens are retiring to Mexico every year.
An element to the housing boom is macroeconomic stability. The government now runs a balanced budget, compared with the beginning of this century when it ran a deficit equivalent to 1.1 per cent of gross domestic product (GDP). The country’s debt profile has also improved remarkably, particularly in the shift from dollar-denominated to peso-denominated debt.
The result today is that external public-sector debt accounts for only 7 per cent of GDP compared with more than three times that figure in 1995
*Source: Financial Times
