Levy Holding joins forces with Margaritaville to develop 194 residential units in Lake Chapala, aimed at “expats”
The benefits of Mexico as a destination have led American retirees, also called “expats”, to consider the country as one of their favorites to invest or settle after their working life.
According to the real estate services firm Levy Holding, it is estimated that around 1.5 million expats are in Mexican territory, while in the Lake Chapala region, in the state of Jalisco, there would be close to 20,000.
Among the main reasons why retired Americans choose to settle in the region is the low cost of living, which is significantly lower than in their places of origin.
The Numbeo website indicates that Chapala’s cost of living index is 41.7 compared to the average of the 10 most expensive cities in the United States, which is 81.86, meaning that $100 spent in Chapala is equivalent to $205.37 in these cities, a 105% increase in purchasing power.
Therefore, Levy Holding chose Chapala as the first city to bring to Mexico the Latitude Margaritaville International concept, a commercial brand of Margaritaville, which seeks to create active communities with a high level of quality of life.
Attractive housing for Americans
Mexico is considered one of the most attractive markets for the real estate sector, which has managed to position itself as second place in contribution to the Gross Domestic Product (GDP), representing a total of 12.48 percent.
In this sense, Levy Holding indicated that foreign investment is a key part of the industry’s growth, so the alliance with Margaritaville is an opportunity for expansion and consolidation of safe and attractive housing for the North American market.
“The objective is to offer real estate developments that positively impact the lives of those looking to buy or invest in a property, we believe in Mexico and we reflect this in projects that give us the security of sustained development through investment and job creation,” commented Agustín Levy, general director of Levy Holding.
In its first phase, the project contemplates the development of 194 units next to Lake Chapala, which will have amenities such as a skybar restaurant, pool bar, gym, pickleball courts, swimming pool, jacuzzi, commercial area, special classrooms and theater.
Levy Holding detailed that the Latitude Margaritaville International Lake Chapala will be inspired by the songs, as well as the lifestyle, of singer Jimmy Buffett.
Source: El Economista