An Interview with Bacalar, Mexico RE/MAX Broker
Alejandro Apellaniz is Laguna Bacalar’s Prime Real Estate Broker
May 6, 2009
Alejandro “Alex” Apellaniz is tall, lean, slightly balding, forty-ish, with an abundant supply of energy (just look at all the many “for sale by Alex” signs on properties in the area). Two years ago when Alex first came to Laguna Bacalar (Quintana Roo State, Mexico), he made the wise move of buying the building which now houses his office- and soon, his seafood restaurant, tentatively named “FISH.”
The author met up with Alex at his office, facing the town zocalo (park) and a block from the 16th century Spanish fort that overlooks the Laguna and protects Bacalar from pirates (and houses a very interesting museum) to discuss the state of real estate in this part of the Southern Yucatan Peninsula.
Suite 101: What do you feel that the Laguna Bacalar area has to offer the real estate investor, second home buyer or retiree?
Alex: Future value. And close by there are many interesting places such as (Maya) archaeological sites, Caribbean beaches. It is close to Chetumal (the state capital) where all services are available- 25 minutes away, and about 30 minutes from the border of Belize, Central America with its free zone and casinos.
Suite 101: Since Laguna Bacalar seems to be relatively undiscovered, what does that mean to the buyer?
Alex: It means that this is one of the best places around for return on investment.
Suite 101: Is there a large or growing expatriate community here?
Alex: Yes, this place is totally open to foreigners- they are well received.
Suite 101: What are examples of the best buys happening around Laguna Bacalar now?
Alex: Mostly waterfront lots, close to town and some other land close to Bacalar town. The values are very good at the moment with the rate of exchange, prices are 30-40% less for foreigners (with dollars)- this makes for a very good return on investment.
Suite 101: What type of properties do foreign and urban Mexicans appear to be interested in now?
Alex: High value houses and land.
Suite 101: How does the cost of living — including construction and other such services — compare with the U.S. and other places buyers might come from?
Alex: A lot cheaper than the U.S.; 15 to 20% lower on construction costs.
Suite 101: What concerns should potential buyers have when considering real estate investments here?
Alex: Is the land (title) secure. Much of the land is ejido (communal) here in Mexico. Now we’re trying to get it converted to titled private property. In the past there was no register (title) of ejido land. Now we are moving fast to change that here and will soon have 18 Km of Laguna front registered (titled) and converted into private property, making it totally secure.
Suite 101: Are all services such as architects, lawyers, contractors available here?
Alex: All of these services are available in Chetumal.
Suite 101: If a client buys land from you and wants to build on it, do you arrange for contractors, etc?
Alex: We will work with the buyer through the whole process. We have an architect in our office that has been working with us for 8 to 9 years. He can arrange the planning, construction and all.
Suite 101: Any other advice to offer the person interested in buying property around Laguna Bacalar?
Alex: Look for the best return on your investment. It’s a good time to invest in the area now and you are only paying around $10 a square meter close to the town of Bacalar, which is a very good price compared to other parts of the state. In addition:
- Try to work with a recognized realtor to be sure that things are done correctly.
- It’s a different form of living- tranquil. Many people are coming here that are interested in maintaining the ecology of the Laguna, which is very good. We are working with the government to promote the area.
- Come here and get to know Bacalar.
Learn more about Bacalar and Bacalar real estate.
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