Pit-Stop in Tequila Town
(And the Garden of the Costa del Sol)

I’m in Guadalajara, Mexico where the jacaranda trees are in full bloom and the city is emptying as locals head out of town for the Easter holidays.

It makes for a great time to explore this city…

You’ll find a delightful mix of architectural styles in Guadalajara, Mexico. This city is a lively hub of commerce, innovation and the arts.

I have family connections through my wife that bring me back to Guadalajara and I enjoy this sizable city.

It’s a heartland of Mexican traditions, a center of tequila and mariachi.

The city is also a place of innovation, commerce and learning. I’ve heard it referred to as “the Silicon Valley of Mexico” and I know lots of tech companies have a presence here.

It’s very much a city of culture and the arts as well. A long list of artists, poets and musicians have called the city home. You can enjoy shady parks, colonial plazas, and museums. And the city is an excellent base to visit the nearby forests and agave fields.

In the coming days and weeks, I’ll be using Guadalajara as a base from some scouting. On Sunday I’m heading up to the picturesque town of Mazamitla for some R&R and to check out the real estate scene. Then, in the following weeks, I’ll be scouting the nearby towns of Chapala and Ajijic, where friends tell me the flowers are already in full bloom.

First, though, I’ll be checking out things here in Guadalajara.

Every time I return to this city I’m amazed by how much it’s changed…

I flew to Guadalajara from Cabo on Volaris airlines. Twelve minutes after my flight, Volaris had another flight to Guadalajara. The traditional beach destinations for folks from his city is Puerto Vallarta. But the number of people taking weekend breaks in Cabo and Cancun, or even Las Vegas and Los Angeles, keeps growing.

Sectors of Mexico’s economy are booming, primarily driven by two major trends: “friend-shoring” and “nearshoring.” As geopolitical tensions rise, Western countries led by the U.S. are moving industrial activity away from China toward countries that are closer and more friendly.

Mexico is the world’s biggest beneficiary of these trends. And Guadalajara is among the biggest beneficiaries within Mexico thanks to its strong logistics, industrial base, universities and long tradition of successfully hosting multinationals companies. I see it in the changes to the skyline of Guadalajara every time I return.

Stay tuned for my reports from the ground on what this means for the real estate market here. In the meantime, my thoughts are shifting to Spain…

The Garden of Spain’s Costa del Sol

Later today, I’m going to be telling members of my premium Real Estate Trend Alert service about an opportunity on Spain’s Costa del Sol. (That translates as “sun coast” and it’s apt, you get around 320 days of sunshine a year here.)

There’s one particular part of that coast that’s got my attention right now…

Over the past decade, the area around Estepona has undergone a stunning transformation, with new world-class golf courses, 5-star resorts, incredible marinas, and million-dollar residential communities.

One of my research team sent on this YouTube video giving a great taste of Estepona.

Take a tour of Estepona on Spain’s Costa del Sol.

A new highway built in 1998 made getting from Malaga airport to Estepona much easier. It’s what I call “a Path of Progress” event.

As people came the money has flowed in and Estepona has become one of the prettiest towns on the Costa del Sol. It’s home to pristine palm tree-lined promenades that meander beside the glistening Mediterranean…charming, cobblestoned squares filled with orange trees that give the town the smell of orange blossoms in springtime…winding alleys of white-washed homes, with hanging baskets of flowers that add riotous splashes of color…

And then there are its glorious beaches, botanical gardens, and glass-domed orchidarium…

This constant presence of lush trees and vibrant flowers has earned Estepona the nickname “the Garden of the Costa del Sol.”

As I explained yesterday, Estepona has long been a key destination on my beat.

Over the past decade, as Spain bounced back from the global financial crisis, I’ve brought members of my Real Estate Trend Alert service some incredible deals in and around the town.

If you missed this yesterday, here’s a brief sample…

  • Gain of €155,000 ($168,500): I brought RETA members a deal to own sea-view homes in a community called Rock Bay. One RETA member bought here in 2018 for €230,000 and sold in 2021 for €385,000. One of my Costa del Sol contacts tells me these homes would now sell for at least €550,000.
  • €131,000 ($142,000) More: In 2016, I brought RETA members an opportunity to own in a community called Dama de Noche. RETA members could buy here from €254,000. A condo that a RETA member bought here has been sold for €385,000—an increase of €131,000.
  • Uplift of €180,100 ($195,500): RETA member got in on a deal to own luxury homes in a golf community called Ibergolf. A RETA member who bought here in 2017 for €189,900 sold last year for €370,000.
  • A boost of €223,000 ($241,500): We had a RETA opportunity at Casares Costa in 2020. A condo a member bought here for €327,000 was sold in late 2023 for €550,000—an incredible boost of €223,000.

Deals like this are becoming rarer as Estepona hits a whole new level…

But if you’re a member of my Real Estate Trend Alert group you have a chance today to own luxury sea-view condos close to Estepona and within walking distance to the beach at incredible pricing. I expect these sea-view condos to be worth €120,000 more just three years after delivery. (Watch for your RETA alerts or turn on notifications on your RETA App to get word.)

Elsewhere in Spain

As you know, my senior researcher Margaret Summerfield just had boots on the ground in another part of southern Spain…

“Mojácar is actually two towns, a traditional pueblo in the hills, and Mojácar Playa which sits on the coast. The two couldn’t be more different,” says Margaret.

A classic white-washed town in the hills close to beaches. Mojácar isn’t far from where Spaghetti westerns like The Good, The Bad and The Ugly where filmed.

“The pueblo dates back to the Bronze Age. It boasts cobblestone streets, white-washed houses and a 16th-century church.

“Mojácar Playa is much more modern. It’s mostly low rise and has its own charm. It’s a half-hour walk or a five-minute drive from the pueblo. It’s set alongside a lovely stretch of coast.

“I could see the appeal of staying here in the winter months when it’s quieter. I left Northern Europe where overcoats, scarves and gloves were still in play. The weather in Mojácar was a contrast. Blue skies and glorious sunshine. T-shirts and sunhats all the way!”

You can check out Margaret’s full report tomorrow here in Overseas Dream Home.

Where to Scout in Italy?

A note from a reader…

“Dear Ronan! I owned an apartment in Campione and a lake house in Cuomo when I had a hedge fund in Switzerland for many years. But I love the lake region of Italy and always think of retiring there.

“It would be nice if you cover apartments and places in Campione on the right side of

Lake Lugano, because the tax rate is so low, and you get Swiss amenities. In Italy itself the lake front of Cuomo and Maggiore are fantastic.

Looking forward to your recent findings!! thanks and regards,” Mark B.

Thank you Mark! On Monday I asked you guys where in the Italy you thought my team and I should explore.

Your feedback has helped shape our mission…

For instance, because of John M. I think we’ll hit Orvieto. John emailed in: “I think UMBRIA is great. We spent a week in Orvieto last year and loved it. I found Umbria to be just as charming as Tuscany, but without the crowds. Landscape is gorgeous and so green, nice lakes, etc. What hidden gems are there besides Orvieto? Take a look, please.”

I had a very quick look at listings to get my bearings and wow, yes. Orvieto and Umbria look good!

I’ve sent scouts in the past. So I’ll dig out those old reports and my research team can get on the ground and update us…

Here’s a lovely looking renovated farmhouse for €300,000 ($325,000) with 54 acres of land! That includes a chunk of forest. The home is right in a national park.

If you like your dream homes to look like something from a fairytale with flagstone floors, I’d check out the listing!

A rural retreat in the hills of Umbria with 54 acres of land for €300,000.

Keep your feedback coming…

Tomorrow as I say, we’ll hear from Margaret about what she found in Mojácar, and I’ll be traveling from Guadalajara to Mazamitla soon.

Next week my team will start booking themselves onto flights to Italy and elsewhere in Europe…

Stay tuned…


Ronan McMahon, Overseas Real Estate Expert

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