Central American countries battle Mexico for retirees

Laura Gelezunas, an agent at Ron Morgan Properties, highlights how Mexico has long been a preferred destination for US & Canadian retirees, but some Central American  countries are now battling over their share of Expats.

With more and more people retiring in the U.S. and Canada, there is stiff competition between Mexico and Central American countries hoping to attract some of them as residents.

There are many affordable retirement spots that offer low cost housing, reasonable food prices and other intriguing amenities. Places where couples can live comfortably on $40,000 USD per year or less.

More than 50,000 Americans receive Social Security and/or pension payments in Mexico, and places such as Mérida, Yucatán; San Miguel de Allende; Baja or Puerto Vallarta are becoming retirement meccas.

Whether retirees want to rent or own, there are many new developments in these areas offering housing for every budget, and the professional real estate agent can help Expats find a great place to call home.

Direct flights from many locations in the U.S and Canada to International Airports across Mexico make traveling back and forth a breeze.

The number of Americans receiving retirement payments in Panama increased by 65 percent between the years 2006 and 2014 and in Costa Rica there are about 5,000 receiving American pensions, according to Central America Data.

Panama has a program reducing the requirements to invest in property, businesses and other endeavors. Investors are banking on new luxury complexes, equipped with spas, restaurants, marinas and golf courses.

Not to be outdone, Belize and Nicaragua have also joined the race for Canadian and American retirees and their spending ability. These countries are even offering discounts on everything from cars to building supplies.

In Belize, developers are trying to promote the country as a place for retirees to live in luxury. They are currently building a complex which will hold 2,000 residential plots, 250 condominiums and town houses and a marina with capacity for up to 250 boats.

No matter where you decide to retire do plenty of research and plan on living there for several months or even longer before purchasing a home. This is a great way to meet other Expats and get the scoop on living in another country.

by Laura Gelezunas for Banderas News

Laura Gelezunas is an agent at Ron Morgan Properties, who has lived in Puerto Vallarta full time since 2002 and knows the bay and its neighborhoods. Email her at Laura(at)RonMorgan.net.

Ron Morgan Properties