Real Estate
Wealthy Mexicans Focus on U.S. Suburbs, Resorts When Purchasing Property
Places like Coronado rank high for Mexicans, who rank third on the list of countries that spend to buy international properties.
When wealthy Mexicans decide to buy homes in the U.S., they turn to San Diego, and in particular communities like Coronado, according to Forbes.com.
Most such purchases are made in California and Texas, according to the report, with a focus on San Diego, El Paso, Laredo and San Antonio.
A Forbes writer broke down the Profile of International Homebuying Activity issued by the National Association of Realtors to glean the data.
The report noted that accused embezzler Elba Esther Gordillo, criminal accusations aside, is typical of the aspirational approach of foreign homebuyers in the states.
They are looking for niche communities and ways to establish “presence and standing.” Mexicans rank behind Canadians and the Chinese in most spending on U.S. real estate from abroad.
The Mexican union leader owned three Coronado homes prior to her February arrest.
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