The beach city of Manzanillo looks to offer some exciting options for investing in Mexican real estate. Many real estate prospectors are turned off by Mexican tourist cities such as Cabo, Cancun and Puerto Vallarta. Manzanillo Mexico real estate values in have been going up and up lately and will likely continue to increase as the city gets even more holiday makers.
Overview of Manzanillo Mexico
Manzanillo is located on the Pacific coast of Mexico a little south of Puerto Vallarta. Manzanillo City is the municipal seat of the Manzanillo municipality. Although Copper deposits can be found in the region, the biggest money maker for the Manzanillo economy is agriculture. Crops such as corn, sorghum, and mangoes are all grown and sold in large numbers.
The areas in and around Manzanillo has become a secret getaway for world travelers and more tourists are making the journey here than ever before. A large reason for this change may be because cruise lines, including Carnival, have started sailing into Manzanillo waters. Manzanillo has just become an origin port for some cruise lines as well, it will have it’s own cruise liner sailing from the Manzanillo port. There are many Things to do in Manzanillo to choose from for newcomers.
History of the Region
Manzanillo’s port first opened in 1825. The name came from manzanillo trees that were found everywhere in the area at the time. Manzanillo trees are quite dangerous, with sap so potent that even resting under one can result in bodily swelling. Wood from these trees was commonly used when building ships, and by 1767 most trees had been cut down, leaving just one remaining in the city. In 1825, the story goes that the governor of the state of Colima had the last manzanillo tree cut down after several people died from eating its fruit.
What Manzanillo Has Going For It
Though Manzanillo is much more popular than before, the city would never be dubbed a “tourist trap.” It’s mostly considered a family get away by Mexicans; interestingly, around 60 percent of holiday homes in the city are owned by Mexican nationals. Visit Manzanillo on the holy weeks and you will see why.
Manzanillo doesn’t want to become another Cancun. There are not many vacation rentals, very few tourist based stores and when you walk down the street nobody tries to sell you anything. Once can’t say that of Puerto Vallarta! It is this sleepy feel that makes Manzanillo so attractive to vacationers trying to get off the beaten path and expats looking for a place to call home.
The crime rate is very low here. With super low crime rates in both Colima and Manzanillo, you can rest easy. When investing in real estate abroad, crime is a major factor to consider.
Real Estate in Manzanillo
Because of its increasing popularity with expats, real estate value in Manzanillo has been increasing at a rate of approximately 20 percent per year over the last five years. Property values will continue to grow in coming years. In this economy, growth like that is hard to find! Manzanillo luxury real estate is rapidly becoming the investment choice of many foreign investors.
Just like in other parts of Mexico, foreigners must purchase property in conjunction with a Mexican bank that acts as their partner. Foreigners must set up a real estate trust called a “fideicomiso” to act on their behalf if they wish to purchase property in the restricted zone. The restricted zone includes land within 100 kilometers of international borders and land within 50 kilometers of Mexican coastline, according to Mexico Law. It is very risky to buy in an area where a fideicomiso is not available.
Manzanillo isn’t just a attractive vacation option, it’s also a real investment opportunity for those looking to make a good deal of money on real estate for international living. Be sure not to forget to look at Manzanillo as your next home! Additional resources can be found here: Global investing
Posted by brawnydt 
