Real Estate Market In Manzanillo

Location of Manzanillo

Manzanillo can be found on the western coast of the state of Colima. Manzanillo City is the municipal seat of the municipality. Although agriculture is a big part of the economy, the biggest money maker for the Manzanillo is mining both silver and other precious metals.

The Manzanillo region has become a secret getaway for investors and more people are trekking to its port than in years past. Possibly this change may be because cruise lines, including Holland America, 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.

A bit of Manzanillo History

Manzanillo's port first opened in 1825. It was named after the manzanillo trees that were abundant in the area at the time. Manzanillo trees are very poisonous, with sap so potent that even sitting around one can result in extremely unpleasant side effects. Wood from these trees was commonly used when building ships, and by 1767 there was only one manzanillo tree 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 passed away from eating its fruit.

High Points of Manzanillo

Though Manzanillo is much more popular than before, the city would never be dubbed a "tourist trap." It's mostly considered a family retreat by Mexicans; interestingly, just about 60 percent of holiday homes in the city are owned by Mexican nationals. Visit Manzanillo on all souls day and you will see why.

They will never put the emphasis on tourism in Manzanillo. There are not large commercialized time shares, very few vendors and when you walk down the street nobody tries to sell you anything. Which is more than can be said of Aculpulco! It is this laid back feel that creates much of Manzanillo's appeal to visitors trying to get off the beaten path and expats looking for a place to call home.

The crime rate is very low here. Not only does the state of Colima have the lowest crime rate in the country, but this city has the lowest in the state. When buying real estate, you can rest easy in Manzanillo.

Manzanillo Real Estate

Owing to its ever rising quality of life 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 rise in coming years. In this economy, growth like that is hard to find! Manzanillo real estate is rapidly becoming the investment choice of many foreign investors.

As with buying property elsewhere in Mexico, foreigners must purchase property using 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. These fideicomisos can ultimately make property purchases safer for investors.

Manzanillo isn't just a attractive vacation option, it's also a potential high yield investment for those looking to profit from real estate for expat living. Be sure not to miss Manzanillo as your next home!