For U.S. buyers searching for vacation homes or investment opportunities outside of the country, Mexico, Canada, and Costa Rica rank as the top three most popular destinations, according to new data from Point2, a division of Yardi Systems.
However, searches for homes in many exotic locations saw more modest increases compared with last year, indicating the work-from-anywhere trend could be subsiding.
After looking at more than 2,000 real estate-related keywords in islands, countries, and cities in the Americas, the firm found Mexico remains undefeated. With more than 130,000 monthly visits, this country continues to attract buyers, despite a more subdued increase in interest in the last year.
“Compared to the same period last year, searches for real estate-related keywords in connection to Mexico and its most desirable locations have only increased 3%,” says Andra Hopulele, senior real estate writer at Point2. “This is a far cry from last year’s numbers, when searches for homes in this country exploded by 60%.”
Despite the decrease, Puerto Vallarta, San Miguel de Allende, and Cabo San Lucas, along with Tulum and Merida, remain the most sought-after locations within Mexico.
Coming in at No. 2, Canada is the runner-up buyer destination for the sixth consecutive year. After a 13% drop in 2021 and 2022, interest in homes for sale in Canada surged in the past 12 months, with searches up 54%.
Favorite destinations include Vancouver, British Columbia; Toronto; Montreal, Québec; Calgary, Alberta; and Ottawa, Ontario, as searches for homes for sale in these cities represented more than 60% of the total searches.
Costa Rica rounds out the podium, followed closely by Puerto Rico. Searches for real estate in Costa Rica increased 7% in the last 12 months. Similar to previous years, locations and cities like Santa Ana, Tamarindo, Jaco, San Rafael, and Nosara capture the attention of American home buyers.
The data also revealed Turks and Caicos claimed the most significant spike in interest from American home buyers. A 75% increase made Turks and Caicos jump 11 positions, climbing all the way to No. 29.
Additionally, one more country saw an increase in searches of more than 50%. Thanks to its 52% growth, Curaçao entered this year’s top 30 most-wanted locations.
To see the full list of the top 30 destinations for American home buyers, visit point2homes.com.
