Los Barriles, Mexico (PressExposure) July 14, 2011 -- In today's uncertain economic times it is hard to find a safe place to put your money. Mexican ocean view property, in the path of growth, purchased at wholesale, is an excellent and secure investment, according to financial experts.
It is estimated that nearly 2 million Americans now currently live full time or part time in Mexico. Since 1994, foreign investment into Mexico has totaled more than $25 billion, earning it the top spot in the world.
One of the hot areas currently experiencing a surge in growth is Baja del Sur's East Cape. The East Cape, which primarily attracted windsurfers and fishermen, is now evolving into a destination resort community for North American artists, retirees, investors and families seeking a more relaxing pace of life.
According to Moody's Latin America, Mexico is racing out of the recession; recording a 4.3 percent growth rate thus far in 2010 (faster than the U.S.) and a 10 percent trough-to-peak increase which bests almost every other economy worldwide. Moody's expects this growth to continue.
Billions of dollars have poured into Mexico because of its stunning beaches, abundance of outdoor activities, relaxed and friendly culture and low cost of living.
"I think that out-of-favor real estate in Mexico, that's easily accessible to Americans, represents a great buy," said CNBC "Mad Money" host Jim Cramer. "It's not such a bad idea to diversify away from stocks. Mexico properties have no property taxes, are easy to maintain and there are property managers everywhere."
The two major contributing factors to the boom happened in 1994, the year the US passed the North American Free Trade Agreement (NAFTA) and the same year the Mexican Government changed its constitutions to allow foreigners to buy land near the beaches and border.
Los Barriles, a town of about 5,000 on the sought-after East Cape of Baja California, sits directly in this path of growth and is poised for continued, sustained growth as it attracts investors.
Los Barriles is about 45 minutes away from the San Jose Del Cabo International Airport with many direct US flights; and just over an hour's drive from Cabo San Lucas - one of the world's most famous tropical playgrounds. Developers of eco-friendly developments such as Vista del Cortez in Los Barriles (www.bajadreamproperties.com) are offering owner financing to eager retirees and investors who expect to benefit from getting in on the ground floor as the area is experiencing an unparalleled surge in development.
"The Vista del Cortez property is amazing. The property is very affordable as far as the market is concerned," said Tom Klosterman, a Southern California business owner looking to invest in property in Los Barriles.