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Sunday
Aug112013

AcaCondos August 2013 Newsletter

Greetings again from the sunny beaches of Acapulco,

Last month we had the very exciting Surf Open Acapulco where the Australian surfer Wade Carmichael took home first place. This is the second consecutive year that SOF has been put on in Acapulco and it is now established as part of the Latin American leg of the ASP North American series.


This is a great way to spend a weekend so if you like surfing you should plan ahead to come down next year and take part in this wonderful international event. 

Last month as always we had good number of people come down and take a look at all that Acapulco has to offer. This isn’t surprising as more and more Americans and Canadians are now heading south of the border than ever before. Mexico is becoming the land of opportunity while most other economies have remained stagnant. Indeed, it seems that the stage is set for Mexico to become an economic powerhouse.

In 2012 alone there were enough foreigners who were optimistic about Mexico that they invested $57 billion in Mexican stocks and bonds, that’s five times more than was invested in Brazil! They have seen yearly GDP growth of 4% and are projected to reach up to 7% in the years ahead. The lower cost of living and greater business opportunities are not only causing northerners to pack their bags and come check things out but many of the Mexicans that went to the US for a better life are now turning back around and returning home. We think this is a trend that will only grow as time progresses. Mexico has lots of room for growth and now is the time to get on this train while the getting is good. 

TWO PIECES OF GREAT NEWS ON FIDEICOMMISSOS (BANK TRUSTS)

There is good news for those looking at buying a condo with us here at Acacondos. As you may know in order to buy property in one of Mexico’s “restricted zones” foreigners must buy the property in a fideicomiso which is much like a trust. Just recently the IRS has ruled that a fideicomiso is not a trust, which means that US citizens will no longer have to file form 3520 with their yearly tax returns. Don’t we all love less paperwork!

The even better news comes from the Mexican government which has put forth a bill to stop the use of fideicomisos all together. This is great news and will cause our customers to save an yearly fee of around $360 US. This law has not completely passed yet but is expected to be in effect by the end of the year. We will keep you up to date as things progress. 

ACACONDOS INVENTORY CHANGES


There have been a few changes to our inventory in the last month. The first change has been the purchase of the last studio we had available 2604S. That will make five units in the same vicinity at the top of the south tower. We are now looking for another one on the top floors of the south tower to offer. We will be updating the site as soon as we have found one. 

Another big change that has happened this month is that the owner of our most popular suite 3009N has decided to list his property (link: https://acacondos.com/3009n). This is a beautiful three story penthouse that has already been renovated. The buyer is in need of cash and has priced it to move at $174,000. This is a unit that is already equipped with flat screen TVs, surround sound, full kitchen, two kings size bedrooms with private bathrooms and the icing on the cake which is the rooftop patio with jacuzzi and complete view of the bay. This unit is rented out practically every weekend and is always a favorite when people come down to see it. Just imagine sipping cocktails on your own patio on the 30th floor with this view. 

This is very recent news so if you are interested please let us know as soon as possible as it probably will not be available for very long. Also if you are interested in a studio please feel free to contact us as we will probably be able to find another one that is available within the next couple weeks.  

You can always reach us at sales@acacondos.com or give us a call at (347) 408 0715.

Until next time, we’ll look forward to seeing you down here soon!

James Guzman
Manager