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Tuesday
Apr282015

AcaCondos April 2015 Newsletter

Hello from Acapulco Bay!

As we are now winding down the peak tourist season we now had a chance to catch our breath and give you an update on all the things happening.

First, there was wonderful news that just came out this week.

Fideicomisso/Bank Trust

The lower house of Mexico's congress voted Tuesday to loosen longstanding restrictions on foreigners buying property along the coast and the nation's borders.  Many of you will know that for decades there has been a law that foreigners could not legally own property near the coast or the borders.

Instead, foreigners could get a Bank Trust (called a fideicomisso) by which the bank is the legal owner of the property but you lease it for 100 years.  This also roles over every year so you perpetually have a lease on the property for 100 years.

The fideicomisso, in our minds, was just a way for the government and banks to get extra money (about $500/year for the fideicomisso).  The fideicomisso was also a bit of a nuisance as it just added an extra step to the process of purchasing property in Mexico and added an extra 4-8 weeks to the purchase process.

While the legislation removing the fideicomisso hasn’t fully passed yet we are happy to see that this is a topic of discussion as any way to make it easier and/or cheaper to buy property in Mexico will greatly increase the amount of potential buyers and create a more robust market.

If they do remove the fideicomisso requirement I would expect property prices to rise significantly in the coming years as more people who were put off by not legally owning their property come into the market.

Mexico Tourism & Retirement Destination

The mainstream media in the US and other Western countries has been trying for decades to make Mexico look as dangerous as possible.

But it appears that many people are starting to see beyond that ruse as Mexican tourism rises and being the largest retirement destination for Americans, by far, shows.

Recently, the Huffington Post wrote a great article talking about these issues, saying, “Mexico is one of the biggest and most diverse countries around. There really is something for everyone ... lovely, temperate-climate mountain towns, a vibrant Renaissance-like capital city, rainforests and farmlands and yes, those absolutely gorgeous beaches.  Today's Mexico is not only amazingly diverse and exotic, it's also far safer than the media would have you believe. And we won't belabor this point because there is simply no way to convince the naysayers.”

They didn’t include Acapulco on their list of great retirement destinations but Acapulco has been a top retirement destination for decades and while it has lessened over time it only means that property prices are incredibly cheap compared to many other destinations and certainly an absolute bargain compared to most places in the US.

As just one example, here is an 837 square foot, one bedroom, one bathroom condo in San Francisco available for only $929,000!

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A little too small for your needs?  You can get this 1,050 square foot shack in Buena Vista, California, for only $1.1 million!

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What do similar condos or houses cost in Acapulco?

For $70,000 you can have an all new refurnished studio with kitchenette condo on the beach with a pretty nice view.

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A bit too small for your needs?  How about a 6 bedroom villa in one of the most exclusive areas in Acapulco?  It costs just a bit more than that shack in California, at $1.3 million, but I think you’d agree it is worth spending a bit extra.

It has a pretty nice view from the master bedroom and jacuzzi area.

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A nice reading area.

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A comfortable bar, with bartender, near the pool with an okay view.

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And its own service staff, which cost almost nothing, to attend to whatever you need.

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To be fair, though, even though this villa can be bought for $1.3 million due to the seller needing to sell, it is probably worth $2-3 million.  But it just shows you the opportunities in Acapulco to live like a king whereas, for about the same amount of money in places like California, you live in a shack by the pawn shop.

If you want to see more about this incredible villa (which is actually in the same neighborhood I live in) you can check it out here: http://www.acacondos.com/immaculatevilla

CONDOS/VILLAS/LAND

Acapulco is really beginning to see a renaissance now that most of the drug related problems that occurred in 2011 have long since past (and really weren’t anywhere near as bad as most people thought anyway).

As such, and recognizing that demand is rising, we are expanding our business beyond just condos into villas and even land.

We have not had time to put all the properties available on our upcoming new site but if you want to send us an email to sales@acacondos.com and let us know what you are looking for we are sure we can find you not only what you are looking for but at an amazing price.

Until next month, bye for now from paradise!


Jeff Berwick
 

Wednesday
Dec312014

AcaCondos December 2014 Newsletter

Hello from Acapulco Bay,

Wow time flies!  It has been an incredibly busy year here as we’ve had numerous new sales and have been busy renovating all the new units… We’ve been so busy that I didn’t even realize it has been more than six months since our last update!

And now, of course, is our busiest time of the year and our units are full to the brim with owners and renters who are celebrating Christmas and New Year’s.  

For this reason we wanted to make sure we got out a dispatch before the end of 2014 to wish you all the best from beautiful Acapulco!

There is a lot of updates on the goings-on in the area so let’s go through them all.

WHY IT’S TIME TO GIVE ACAPULCO ANOTHER CHANCE

A few people forwarded this article from Esquire magazine earlier in the year entitled, “Why It’s Time to Give Acapulco Another Chance”.

The article talks about how Acapulco has had a lot of bad press over the last few years… and while this is true the fact of the matter is that in any/all of the tourist areas (where we are located) it has been just as beautiful and wonderful as ever.

Even the most recent “travel warning” due to “protests” from the US government was completely unnecessary as there has not been any sort of protests except for a few hour protest a few months ago which hardly anyone noticed.

From what we see of all the protests in many US cities lately the “travel warnings” should be facing the other direction.  There is not much going on here but sun and fun.

MEXICANS THE HAPPIEST ON EARTH

A new Pew Research Center poll was released asking people around the world to measure their “happiness” on a scale of 1-10.

Unsurprisingly to us, Mexicans were the happiest in the world by quite a margin.

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Anyone who has been to Acapulco knows this to be the case.  A generally happy and joyful people reside here.

Across Mexico the economy is also booming with countless trade deals being done, the privatization of the oil industry and countless manufacturers moving here.

NUMEROUS NEW RESIDENTS

I am a fairly well known writer and speaker in the libertarian world and countless new people have been moving to Acapulco due to my writings.

I’ll even be throwing a libertarian event right on the beach in Acapulco called Anarchapulco from February 27th to March 1st.  Hundreds of people are coming from around the world to be a part.

One of the people who have moved here is Angel Clark, a famous radio show host in the US who now does her radio show via the internet direct from one of our condos in Acapulco.

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You can listen to her most recent show here which talks about how wonderful Acapulco is and how much she loves it.

ACAPULCO AIRSHOW

Just a few days ago Acapulco Bay was home to the Acapulco Air Show with numerous jets and stunt planes doing daring formations literally a few hundred feet from the windows of AcaCondos.

Here is a taste of it:

And in just a few days will be the insane, amazing New Year’s Eve Fireworks show which is one of the world’s best.

CONDOS FOR SALE

As stated above, we have never been so busy with sales and so if you are interested in any units just make sure to give Ulises Martinez a call (from the US: 1-347-408-0715) or email at ulises@acacondos.com to see what we have available.

We also have other units and houses available now throughout Acapulco so feel free to call or email to see if we have something for you.

HAPPY NEW YEAR FROM ACAPULCO

And, of course, Happy New Year to everyone from us here at AcaCondos.

We’ll hope to see you down here in 2015!

Best,

Jeff Berwick
AcaCondos

 

Monday
May262014

AcaCondos May 2014 Newsletter

Hello from Acapulco Bay,

In our five years of being in business we have never been so busy. Condo sales are up dramatically and more active than we have ever had. Rental bookings are up as we had our best year in 2013 and 2014 looks to be on track to surpass 2013.

The mood in the city seems to be very optimistic about the future for a number of reasons. On two separate occasions in conversation with longtime Acapulco residents they told me that they think now is the time to buy in Acapulco as they are expecting property prices to rise dramatically.

When I asked why they told me that the city is having a re-emergence and tourism is booming again… and both mentioned the large amount of investment that the national and state government in concert with the richest man in the world, Carlos Slim, are putting into the city.

ACAPULCO RESTORATION

The restoration plan calls for reviving the tourism industry and making the city more livable for local citizens. It contemplates opening up the ocean view of the city’s seafront on one of the most beautiful bays in the world.

While most of the investments are being carried out by the state of Guerrero and the federal government, Slim’s conglomerate, Grupo Carso, is rebuilding (at its expense) more than 5 kilometers of Acapulco’s waterfront. Slim’s participation in the project will be to connect the “quebrada” (where the daring cliff divers put on their daily shows) in the open sea to the “malecon,” the road that runs parallel to the shore in the older part of town that had mostly fallen into disrepair. “It will be one of the most important transformations Acapaculo has witnessed in the past several decades,” Grupo Carso’s spokesman said.

Below is a photo of how part of the area looks now and how it will soon look.

In the 2000s, Slim helped give a facelift to Mexico City’s downtown area, known as the Centro Historico, by revamping the main streets, hotels, restaurants and stores. Slim is now trying to replicate that kind of success in Acapulco.

Slim’s interest in Acapulco is not purely business. He has a large house in Acapulco that he visits with his family on weekends. He has been a celebrity in Acapulco for some time. Mexico’s top billionaire (also the world’s richest man) is often seen in Acapulco at high-society events and schmoozing with stars. In 2011, he attended the annual film festival and was pictured with Academy Award winner Italian icon Sophia Loren and French actor Alain Delon.

In December 2012, Slim sponsored a gala charity concert in Acapulco featuring Spanish tenor Placido Domingo. Glossy pictures of a smiley Slim with Sophia Loren and Placido Domingo were splashed across pages of Mexico City’s high-society magazines.

THE RISE OF MEXICO

If all you pay attention to is mainstream media in the US you might think Mexico is doing poorly and is a dangerous, poor place. Nothing could be further from the truth.

The stats show a completely different story. Mexico has been opening up its economy dramatically and now has more free trade agreements than it’s North American neighbors, Canada and the US.

Queretaro, Mexico, of all the cities in the world, had the highest growth last year in foreign direct investment — that’s money invested directly into local business. And its population is growing rapidly too. Companies that have moved their manufacturing to the area recently include Bombardier, American Airlines, Aeromexico, Samsung, Honda, Siemens, General Electric and many more.

Mexico has recently overtaken Japan as the second biggest vehicle exporter to the United States.

This opening up has led to major economic growth and has led to a reversal in migration. The number of people moving from the US to Mexico has been continuously increasing since the year 2000. In fact more Americans have been added to the population of Mexico over the past few years than Mexicans have been added to the population of the Unites States. There are now more Mexicans leaving the US than going to the US.

CONTACT US FOR SUITES

For the last few months as soon as we add a suite to our inventory it has been purchased but we continue to find new suites in the building for purchase. So, contact myself at the contact information below and we can let you know what we have available.

As well, if you’d like to come down and stay in one of our owner’s suites that are available for rental you can also contact me for special rates.

Until next month,


 

Tuesday
Apr292014

AcaCondos April 2014 Newsletter

Hello from Acapulco Bay,

It’s been another busy and fun month here in Acapulco. Three condo sales closed this month and we have another closing soon which we will be busy renovating.

You may have heard that there was an earthquake throughout much of central and southern Mexico on April 18th, registering a 7.5. The main areas that felt it were around Mexico City but here in Acapulco many didn’t even notice it. That was the largest earthquake in the region in decades but there was essentially no damage and no major injuries, attesting to how advanced the construction in this region of Mexico has become.

Much more noticeable was Semana Santa (Easter) which is celebrated over a two week period in April and had Acapulco full to capacity with no hotel rooms available for much of the two week period.

Here are a few of the things happening in and around Acapulco this month.

ANNUAL SAND SCULPTING FESTIVAL

A little bit of France came to Acapulco in April as, dressed in pink, hundreds of contestants spent six hours carving an array of sculptures for the event.

This year marks the 40th edition of the contest, with participants having to create their sculptures with a French twist.

As a result, many of the sculptures featured the Eiffel Tower and Arc de Triomphe in the design.

"My sculpture is based on a girl who is reminiscing about Art Deco, these details, starting with the Eiffel Tower, the Arc de Triomphe, the fountains because there are plenty of beautiful fountains, impressive things there," said professional sculptor Jair Perez, who was taking part in Sunday's event.

You can see video of the event here:

FEATHERWEIGHT BOXING CROWN SET FOR MAY

Jhonny Gonzalez announced he will be returning to the ring to defend his world featherweight boxing title in Acapulco on May 24th.

“It’s always a pleasure to visit Acapulco and it’s a privilege to defend my world title in paradise,” said Gonzalez.

UNITS AVAILABLE

As noted last month, sales have been so brisk that we have continued to run out of inventory and are constantly sourcing units willing to sell. For this reason we no longer put individual units on our site as they have been selling as quickly as we put them up for the last few months.

For that reason, give us a call or email if you are interested in seeing what we have to offer.

We also have other units and even villas we have for offer but have not yet listed. So even if you are looking for a nice villa let us know as we have the inside line on a few of the nicest villas in Acapulco.

Until next month,

Monday
Mar172014

AcaCondos March 2014 Newsletter

We apologize as we have missed the last few monthly blogs in a row!  The reason is that we have literally been swamped here since December. We have been overwhelmed with demand during this busy period and have sold numerous condos as well as actively working to rent those condos out for their owners when they are not here through Las Torres Gemelas Private Suites (http://ltgps.com).

There is lots to update you on so let’s get right to it.

MEXICO IMMIGRATION CONTINUES HIGHER

The last decade has seen a massive change in Mexico.  Not only are there more Mexicans leaving the US to return to Mexico than are going there but more Americans, Canadians and others are flocking to Mexico. 

We came across this graphic which really explains well the dynamics of what is going on.

 

 

 

And we have really seen that here.  This winter has been especially busy with a lot of people not only visiting but moving to Acapulco.

CELEBRITIES ABOUND

In addition to that it has been a star studded affair lately. 

Newly crowned Wimbledon tennis champion, Andy Murray was here for the Mexico Open.

 

And Sylvester Stallone was caught dining and smoking a cigar at Carlos and Charlie’s at the glorious “La Isla” outdoor mall.

 

And out boating with friends.

 

And Halle Berry was in town for the Acapulco International Film Festival

 

So between a very busy high season, star studded events and the hundreds of excellent restaurants and bars and beachtime we have been going non-stop!

UNITS FOR SALE

We sold out all of our available inventory over the last few months but we have brought on new units just recently.  We have a 3 level penthouse with a roof deck currently available (although one very interested buyer just looked at it this week so it may go soon) and we have a few studio units now available as well.

We are expecting those to go quickly as well, however, as AcaCondos owner, Jeff Berwick, will be featured in Wired magazine in April as Wired was very interested in how we were selling many condos in exchange for bitcoin.  The Wired reporter flew to Acapulco and visited AcaCondos so once that story goes live to their large audience we may be yet again inundated with interest.

As always you can give me a call at +1 (347) 408 0715 or on my local mobile phone at +52 1 (744) 239 4501.  Or email at julises@tdvmedia.com.

We do have some rental units still available in the coming months so if you’d like to come down and stay in a unit and check them out also contact me and we can get you a discount on the listed rates.

Until next time, hasta luego!