Thursday, September 07, 2006

5 New USA Land Listings

FL, 10,000 Sq. Ft, $42,500

IL, 10 Ac, $90,000

AZ, 4.99 Ac, $2,600,000

CA, 21,344 Sq. Ft, $6,600,000

AZ, 5 Ac, $35,000

Latin Real Estate Boom

"Latin America's real estate sector is booming, thanks in large part to a growing number of US retirees buying homes. Panama, Mexico and Costa Rica are leading the way, but also Argentina is seeing a boom.

Panama is one of three real estate markets in Latin America seeing heightened interest, according to Rogerio Basso, Latin America real estate specialist at US-based consultancy Ernst & Young. "In general, markets that provide a good combination of air lift from major destinations, proximity to key source markets and coastal locations are experiencing explosive growth," he says. "In discussions with our clients and the investment community, we are observing that there is heightened interest in Mexico, Costa Rica and Panama."

"Real estate in Latin America is attracting significant interest amongst U.S. buyers searching for second- and third-vacation homes," Basso says. "The baby-boomer generation is fueling a majority of real estate purchases in Latin America."

Thanks to a pickup in economic growth and new U.S. mortgage lending, Mexico's real estate sector is growing dramatically. Total real estate activity by local and foreign investors jumped from $1 billion in 2004 to $3 billion last year and is expected to double to a whopping $6 billion this year, according to Basso.

Also Argentina is seeing a boom. The country's economic crisis in 2001-02 led to a strong decline in real estate prices. At the same time, the euro has appreciated against the Argentina peso, leading to bargain conditions for European investors. The result: a boom in residential real estate, especially from Spanish buyers. "
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By Joachim Bamrud, "Latin Business Chronicle"