While the US real estate market is still somewhat sluggish, things are picking up fast in Mexico.
With wage increases in China and Vietnam (as well as escalating shipping costs), outsourcing to the Far East isn't as economically feasible as it once was, a situation that is forcing many companies to look closer to home. At the same time, retirees looking to make the most of their savings are considering relocation south of the border.
Mexico rode out the worldwide economic downturn better than many other countries and its real estate market never suffered on a level seen in the U.S. And while there was certainly excess inventory, that's quickly being snatched up by bargain hunters.
"2012 is a turning point," says Gary Swedback, President of NAI Mexico. "I'm seeing new private equity funds in Mexico … And by the end of the year, we're expecting to see build-to-suits for companies that can't find a building. By the beginning of next year, we're going to be seeing speculative construction in some markets."
The hot markets vary depending on a company's need. Several industries seem to be grouping themselves in particular areas, while others want to stay close to the U.S. border to make transportation easier.
"There's no single answer about where to locate," says JC Goldenstein, CEO of CREOPoint.
That said, here are 10 areas worth considering.
By Chris Morris, Special to CNBC.com
Sept. 18, 2012