Playa Del Carmen, Mexico (PressExposure) October 08, 2009 -- In and interview with a TOPMexicoRealEstate.com, Cindy Ader, Cancun Real Estate expert, predicts a slow end of year for the area's market, but notes that the current market situation is making for some excellent deals in Cancun.
The Cancun market's low season is usually in the fall. According to Ader, the prediction that fewer people will be buying in the last quarter of this year is not shocking.
"It is typically slow September through Christmas week," notes Ader.
However, Ader is optimistic for 2010, confident that more people will be buying Cancun Real Estate by the end of this year, and that this trend will increase during the new year. Currently Cancun offers some excellent price-reductions, ideal for buyers intending to live in Mexico full time or seasonally, and for investors. Buyers will begin to catch on to these deals, and sales will pick up as the "high season" begins.
Ader also points out that the deals will not last forever.
"Those looking to buy a property for their second home or for their retirement," advises Ader, "are wise to do it now while these deals are available."
A situation similar to that of other Mexico Real Estate areas, another result of the price reductions is that more Mexicans are buying in a market that is typically dominated by North Americans and other foreigners. Ivan Castillo of Stewart Title says that currently up to 70% of buyers in Cancun are Mexicans. Mexican buyers are realizing the opportunity to save on real estate purchases in this favorite beachfront destination.
Another group which is taking advantage of the situation are some baby boomers who have not yet reached retirement, but since they are finding beachfront condos ideal for retirement at lower prices, they are planning ahead. Ader expects that this type of situation will increase.