Mexico is the most popular country in the Americas for United States citizens considering buying a second home abroad, a study has determined.
For one year starting January 2017, real estate website Point 2 Homes tracked Google searches within the United States that were related to purchasing a home in the region.
With an average of almost 64,000 monthly searches, Mexico was the clear winner.
Topping the list of most desirable locations to buy a home south of the border was Puerto Vallarta.
The resort city, located on Jalisco’s Pacific coast, was the subject of over 10,000 monthly Google searches related to the purchase of real estate. Vallarta is also an extremely popular tourism destination.
More than three million foreign passengers flew into the city’s international airport in 2017, more than half of them from the U.S.
San Miguel de Allende, Guanajuato, was second favorite, with an average of 6,990 monthly real estate searches.
Point 2 Homes pointed to the “guarantee of an alluring cultural scene” as a key factor driving interest in the colonial city.
San Miguel de Allende was also named the world’s best city last year in annual rankings of readers of Travel + Leisure magazine, which likely spiked further interest in the destination.
Not far behind was Playa del Carmen, Quintana Roo.
Just over 6,500 monthly searches sought information about real estate in the Caribbean coast city.
The fourth most popular Mexican destination was Cabo San Lucas, Baja California Sur, with 6,000 monthly searches.
The region’s pristine beaches and Los Cabos’ relative proximity to the United States were both likely factors behind its popularity.
Rounding out the top five was Cancún, which attracted an average of 5,380 monthly real estate searches from the United States. Point 2 Homes said that real estate in the area is the most expensive in the country.
Mexico City was some way behind the top five choices with an average of 2,660 monthly searches on Google.
Point 2 Homes also said that the average selling price of a home in Mexico is US $40,275. That is more than five times less than the median price in the United States, which is US $240,500.
Spending that amount in Mexico purchases a two-bedroom detached home with private swimming pool in Playa del Carmen, 133 acres of land in San Miguel de Allende or a one-bedroom oceanfront condo in Cancún, according to current listings on the site.
The second most popular country for Americans thinking about buying a second home was Canada followed by Puerto Rico, Costa Rica and Belize.
Source: Point 2 Homes (en)