Westworld Alberta
Issue link: http://westworldmagazine.ama.ab.ca/i/53603
US$339,000 – 3 bedroom, 2-bathroom, 2,238 sq. ft. detached home in a gated community, Cabo San Lucas. ■ Crime: few major concerns in tourist areas; high crime in other areas. Check the travel reports and warnings at: voyage.gc.ca. ■ Health care: good basic facilities and access for foreigners, particularly near large cities. "Canadians are principally buying con- dos here, where their lifestyles dictate shorter visits and the properties are easier to lock and go," says Puerto Vallarta-based real estate branch manager Victoria Pratt, who is originally from Vancouver. "The Vallarta/Nayarit region probably has more Canadians than any other Mexi- can destination," says John Youden, owner of a multiple listings service in the sun- drenched resort area. "But lately, Canadians – especially Albertans – are buying high-end properties across the bay in Punta Mita, where they make up a large portion of the expat community." Since foreigners can't directly own title in Mexico, they must arrange for a bank trust, which holds the title on their behalf. A Mexico-based realtor – preferably a mem- ber of the Mexican National Association of Real Estate Professionals (ampi.org) – can walk you through the process. For Youden, the biggest potential pit- fall is ejido property, similar to First Nations reserve lands. "Title [to these properties] can be issued, but it's compli- cated," he says. "When you hear about Canadians having problems down here, it's frequently because they were involved with ejido properties." PANAMA ■ Top spots: Panama City, Volcán, Boquete. ■ Emerging areas: Puerto Armuelles. ■ Popular buys: condos and detached single-family homes. ■ Sample prices: US$135,000 – 2-bedroom, 2-bathroom, 1,190 sq. ft. condo, Panama City. US$197,000 – 3-bedroom, 2-bathroom, 2,500 sq. ft. detached home in a gated community, Boquete. ■ Crime: petty crime is common in some areas, especially Panama City. Vacation spots tend to be safe and well-protected. ■ Health care: reliable, accessible hospi- tals, with best facilities near cities. 24 WESTWORLD >> FEBRUARY 2012