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“Baby boomers” will trigger specialized developments for retirement in Mexico

Posted by Paradise Village Real Estate on July 10, 2019
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It is estimated that the demand for adult homes will have an increase of 250,000 people who will arrive in Mexico from the United States and Canada by 2025

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Currently, in Mexico live 1 million 500,000 American and Canadian retirees of the ” baby boomers ” generation, who demand specialized real estate developments and with some peculiarities, according to the Mexican Association of Assistance in Retirement.

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This industry generates an economic income of $ 22.5 billion dollars.

And in fact, Amar projected a rise of 250,000 people who will arrive to our country, coming from the United States, as well as from Canada, with which they will total 1 million 750,000, who will disburse $ 26,250 million dollars by 2025.

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“In Mexico, there are no more than 10 projects that have certain characteristics that are in the international standards that govern this industry,” said Javier Govi, president of the Mexican Association of Assistance in Retirement (Amar).

“The most symbolic we have in Mexico City , which is from an American firm, Belmont Village; on the other side is El Pueblito that made the association of Grupo Presidente and the Spanish company Ballesol in Queretaro. “

Govi stressed that there are attempts by Mexican businessmen, but unfortunately they lack the experience to operate them, although he recognized their work.

“This industry is patrimonial, both from the point of view of real estate, as well as operational; It’s like a hotel, but unfortunately most real estate developers bet on the projects they already know, which is land purchases, develop and sell, “explained Govi.

“Not here, here you buy the land, you develop it, you sell a certain part and the rest you keep it, since there are units within the real estate complex that rent or usufruct.”

“On the other hand you have to talk about operability, here you enter 60 years and you stay all your life, you have to worry about your day to day.”

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Yucatan

Amar executive stressed that one of the challenges that Mexico has is the training to operate these buildings, which require highly specialized personnel in geriatrics, which is bilingual and recreational, among others.

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