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Hot Spots: Top 30 Home Buying Destinations in the Americas

What Canadian hasn’t dreamed of a tropical getaway where they can enjoy warm temperatures all year round? While getting away from the cold is in itself a strong motivation, the reasons that drive people to purchase property south of the border are far more diverse. Whether they are simply looking for a vacation home, a place for retirement, or an ambitious investment opportunity, Canadians have some great home buying destinations on their wish list.

To find out where they want to purchase a second home, we analyzed Canadians’ Google searches from January 2017 to January 2018, using keywords regarding homes for sale abroad, in countries located in the Americas. We then ranked these countries based on average monthly search volume. You’ll find the results quite surprising!

Here are the 30 most popular home buying destinations in the Americas today:

#1 Mexico – 18,780 monthly searches from Canada

Sunrise on the beach of Playa del Carmen at caribbean sea, Mexico

Mexico is the number one choice for Canadians who want to purchase a second property. Actually, Mexico remains the top go-to place, based on a similar report we launched back in 2015. And let’s face it, who doesn’t dream of living in a tropical paradise with turquoise waters and golden beaches? Here are the top 5 most sought-after Mexican locations for Canadians:

Puerto Vallarta stands out as the most looked-up destination in the country, with 2,940 monthly Google searches. The second place is held by Playa del Carmen, the fastest growing real estate market in Latin America, accounting for 1,470 searches. Cabo San Lucas is the third choice on Canadians’ wish list (960 searches per month). The city of Mérida is the fourth (830 searches), famous for its rich Mayan and colonial architecture. The most expensive location in the country, Cancún, is in fifth place in the ranking with 800 searches.

Mexico is considerably more affordable than Canada when it comes to housing, with the average home selling price here (52,325 CAD) being more than 11 times less than it is in Canada (where the MLS® Home Price Index Benchmark Price is at 602,100 CAD). So, if you’re wondering what 600,000 CAD can get you in Mexico, here are a few stunning options:

  • a 3-bedroom condo in Puerto Vallarta with traditional furnishings
  • a 3-bedroom apartment in Playa del Carmen with a private swimming pool
  • a 2-level 3-bedroom penthouse in Cabo San Lucas

 

The next destinations on the top 5 are the following:

#2 United States – 11,300 monthly searches from Canada

#3 Costa Rica – 9,770 monthly searches from Canada

#4 Belize – 6,290 monthly searches from Canada

#5 Dominican Republic – 4,790 monthly searches from Canada

To see specific figures on all the 30 destinations included in the top home buying destinations ranking hover over the bars in the chart below:

Source:  Author Cristina Jisa for point2homes.com Canada

Read Full article here: goo.gl/FTuupq