📊 Hot Vacation Real Estate

What are the top destinations for US buyers in the Americas, and which are the up-and-coming ones?

Welcome to Latinometrics. We bring you Latin American insights and trends through concise, thought-provoking data visualizations.

Residential Real Estate 🏡

It's no secret that the US has long looked at Mexico for vacationing. The country has approximately 9,300 Km or 5,800 miles of coastline, much of which is warm year-round. Considering its affordability and proximity to the US, as well as its spectacular food scene, Mexico is a prominent vacation choice.

It gets really interesting for Mexico in its opportunity to offer real estate to comparatively wealthy neighbors. Buying a home in the United States (at least in a prime location), let alone a vacation home, has become increasingly hard. 

Mexico is the US' Favorite Destination for Vacation Homes

Only about 6% of 30 to 49-year-olds in the US own a second home. A much higher percentage likely wishes it could, and that's where the real estate market outside the US comes in. According to INEGI, $25B+ was invested in Mexico's real estate market in 2022. To put it into perspective, that investment alone equals one-third of Uruguay's entire GDP.

Using Google searches as a proxy, Mexico is the most exciting place for US residents to buy a vacation home by a long shot. Canada, which holds second place and shares the English language with the US, gets about 63% of the interest that Mexico does. Costa Rica holds an impressive 3rd place, given its size.

But what if we look at growth in interest?