Housing development across the border in Mexico is on the rise as people continue searching for affordable places to live. The demand right now is so high – realtors in Tijuana are reporting a 20-percent increase.
There is a big change-taking place in the landscape of Tijuana, it’s a wave of Americans who are now calling Mexico home, and realtors are taking note.
“They like the vibrant scene here with culture, with food, with craft beer and wine. It’s not necessarily an economic thing. It also becomes a life style,” said Genaro Valladolid, realtor, Bustamante Realty Group.
Billboards are posted throughout the city advertising new housing development projects. Over the last year, realtors say the shift of Americans renting in Tijuana has moved away from the coast and into urban areas.
“The benefits for Tijuana, well you get more people spending money down here. If you live down here you are going to spend money, you are going to go the movies down here, you’re going to buy some clothes down here, and it injects more money into commerce,” said Valladolid.
The average medium income last year in San Diego was about $60,000 with the average two-bedroom apartment costing $1,900. A big difference compared to Tijuana where realtors say rent for a two-bedroom start at $300.
“If you’re living in San Diego and you’re open to coming to live down here, you can save about, of that medium income you can save $1,000 a month,” he said. There are apartment buildings currently in construction to meet the growing demand including a 20-unit condominium in downtown Tijuana. Realtors say the majority of people inquiring about the spaces for rent live in the San Diego area.
“It is something that is beginning and I don’t’ doubt that in the very least is going to continue,” said Valladolid.