At the 2010 Luxury Markets Symposium in Mexico City yesterday, Ricardo Montaudon, Latin America President and General Manager of RCI (a global leader in vacation exchange and one of the Wyndham Worldwide family of brands), noted that the Mexican vacation market is still the No. 1 option for Americans looking to buy abroad. He also added that 45 percent of people RCI surveyed said now is a good time to buy a vacation property. (NAR’s 2010 Investment and Vacation Home Buyers Survey also supports RCI's findings, since vacation-home sales rose 7.9 percent to 553,000 in 2009 from 513,000 in 2008. NAR Chief Economist Lawrence Yun noted at the time the survey was released: "The typical vacation-home buyer is making a lifestyle choice, with nine out of 10 saying they intend to use the property for vacations or as a family retreat.")
What do you think about this news? Are you surprised that Mexico is still the most desirable vacation destination for Americans?
We found the news about the Mexico market particularly interesting because we have been eyeing Cabo San Lucas for some time, in search of the perfect Élan vacation property. We can't reveal too much information at this time, but we can say that we are very close to securing a luxury estate for The Élan Collection in Cabo. If you want to be kept abreast of all of our coming soon properties, feel free to follow us on Facebook or Twitter. You can also contact Stan Tonkin, vice president of international marketing and sales, at stonkin@elanprc.com.
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