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Simeon Mitropolitski

Simeon Mitropolitski is a Canadian analyst, of Bulgarian origin, and a former syndicated columnist with the Bulgarian News Agency (BTA). He is the author of several hundred articles dealing with hot political and economic topics, both national and international.

He was part of the first group of Bulgarian intellectuals and students that began the opposition movement that finally put an end to the communist regime in this country in 1989, and in 1996-1997 participated in international observation teams during the elections in several Balkan countries - Romania, Albania and Bulgaria.

In 2002 Simeon and his family moved from Bulgaria to Canada where they live now in Montreal, province of Quebec. Simeon is a Master of Political Science from McGill University and a B.A. of Political Science and History.

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19 September 2003

Mexico City and It's Surrounding Areas

© 2003, IRED.Com, Inc., Simeon Mitropolitski

It has been mentioned long ago that in Mexico if you want to buy safely any property you have to pay more and if you want to pay less you have to bear some additional risks. In many parts of the country the market shows some correlation between these hypotheses, which doesn't mean that this should be the case anywhere throughout the country. In places such as the national capital (Federal District) and especially along some western and eastern coastal areas with particularly high concentration of foreigners, on the one hand, and the professional realtors, on the other hand, the risks of buying area are really negligible.

Besides, in the coastal areas, as well as alongside the land borders, the Mexican government allows the foreigners to buy only via trusts, which further diminishes the investment risks. The real problem are the prices especially for those who look at Mexico as some much cheaper alternative compared to the booming American market. Nowadays a house in Mexico City as well as in the most expensive coastal areas can easily reach and exceed $400,000-500,000. In the capital prices above $1,000,000 aren't uncommon. So finding cheaper but safe alternative in Mexico is by no means assured.

Mexico is one of the largest countries in the world so the climatic differences should play an important role when someone decides to settle down. The traditional division on dry and humid seasons must be added to the big altitude disparities between the coastal areas and the high plateaus. It's highly advisable for anyone wishing not only to live in Mexico but also to do it in some particular region of the country to rent for a year or two before making the final decision.

Now let's turn to one alternative some foreign retirees have tried looking to buy as cheap and secure as possible. For any foreigner, save the business expatriates, Mexico City remains very expensive luxury. Besides, the ecological matters in the city are not going to improve due to the lack of sufficient ventilation. As a result the magnificent ring of mountains and volcanoes, that surrounds the capital, can hardly be seen from the city. The crime situation in Mexico City also doesn't encourage the flow of new permanent foreign settlers.

On the other hand, the capital of Mexico is really a unique city in what concerns its rich history and cultural life. These are matters that should be kept on the balance when we decide where to settle in the country.

Some foreigners have tried to resolve this dilemma by settling not far away from the capital, beyond the plateau, where there is no heavy polluting industry, on the one hand, but at sufficiently high altitudes to avoid the summer heats, on the other. Small enough towns of less than 100,000 such as San Miguel de Allende have become famous among the American and Canadian retirees, which as a result have pushed up the prices. Perhaps San Miguel has exhausted its investment potential with the prices exceeding the $300,000-400,000 marks for an average detached house, but we should no doubt that there are many more similar cities that just wait to be discovered by the small foreign investors. The mixture of relatively cheaper properties, the constant yearlong mild climate and the relative proximity to the cultural center of Mexico are all reasons why anyone should look at this opportunity.


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See also the directory of companies providing real estate services in, and general real estate information of Mexico.

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