There are many reasons that drive people to purchase a second home. Many are tempted by the exotic lifestyle that comes with owning a home in a tropical paradise, others are looking to retire in some remote location where it’s peaceful and quiet, while some are just taking advantage of an investment opportunity in a foreign country.
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Whatever the case, many Americans are looking into buying property abroad and a recent report released by real estate portal Point2 Homes shows the exact destinations on their wish list. Here are the top 30 most popular home buying locations in the Americas for U.S. residents:
To put together this list, the Point2 Homes researchers analyzed U.S. users’ Google searches from January 2017 to January 2018, using keywords regarding homes for sale abroad, in countries situated in the Americas. These countries were then ranked based on monthly search volume. Here are some details on the top five:
Mexico stands out as the first choice for Americans when buying a second home, accounting for 63,890 searches per month on average. In 2015 when a similar report was launched by the company, Mexico came in fourth. The top 5 Mexican destinations that U.S. residents track down are:
- Puerto Vallarta – 10,230 monthly searches
- San Miguel de Allende – 6,990 monthly searches
- Playa del Carmen – 6,150 monthly searches
- Cabo San Lucas – 6,000 monthly searches
- Cancún – 5,380 monthly searches
Canada is the second most sought-after location, with 55,290 Google searches, going up five spots compared to 2015 when it was seventh. The most unaffordable country in North America, with urban centers Vancouver and Toronto accounting for most of the pricey homes, Canada also boasts several accessible choices for settling down: Ottawa, Calgary, Edmonton, and Winnipeg.
#3 Puerto Rico
Puerto Rico comes in third in the top home buying destinations list, holding the same position it had three years ago, with 46,600 monthly searches. The interest in homes here saw a downward trend after Hurricane Maria struck, but five months after the event, the island is almost fully recovered, welcoming foreign investment to aid in its rehabilitation.
#4 Costa Rica
Costa Rica takes fourth place in the ranking (39,620 searches), falling two spots compared to the previous analysis. The country is still recovering from the disaster caused by Tropical Storm Nate. The top five locations here that attract Americans’ interest are:
- Tamarindo – 1,920 monthly searches
- Jacó – 1,380 monthly searches
- Guanacaste – 790 monthly searches
- Santa Teresa – 610 monthly searches
- San José – 560 monthly searches
Once the top-ranked destination for buying a second home, Belize is now the fifth location on Americans’ wish list, with 30,910 Google searches per month on average. The most sought-after places to consider here are Ambergris Caye, Cayo District, Corozal, and Placencia. Investment in real estate is strongly encouraged in this English-speaking country, with foreigners having the same rights as locals.
To find out more about all the 30 destinations included in the study, visit the full report here: https://www.point2homes.com/