The Edmonton Journal
Mexico is home to close to 700,000 U.S. and Canadian citizens who exchanged urban busyness, frigid temperatures and higher living costs for a more relaxed, warmer and inexpensive lifestyle.
Mexico was named the world’s top retirement destination in an annual look at global retirement trends in International Living Magazine.
The magazine released its 15th annual retirement index and rated Mexico highly for its affordable combination of modern features and old-world charm, health, climate, infrastructure and cost of living.
Mexico is home to close to 700,000 U.S. and Canadian citizens who exchanged urban busyness, frigid temperatures and higher living costs for a more relaxed, warmer and inexpensive lifestyle.
Common destinations include the colonial city of Guadalajara or along the nearby Lake Chapala; the beach towns of Acapulco, Colima, Cuernavaca, La Paz, Mazatlan, Manzanillo and Puerto Vallarta; and the colonial cities of Guanajuato, Merida, Morelia, Oaxaca, Puebla, Queretaro and San Miguel de Allende.
Thirty per cent of all retirees to Mexico are Canadian. Five per cent of Canadian baby boomers are considering investing in real estate in Mexico and that demographic is expected to grow five times over the next four years, according to numbers released by the Mexico Tourism Board.
Each year more than 2,500 Canadian retirees invest in property in Mexico with an average investment of $200,000 each. Total sales of resort properties in Mexico reached $1.5 billion in 2006.