Mexicali is the fastest growing community in the entire Western hemisphere. Mexicali’s population is increasingly growing due to the number of Europeans, Middle Eastern, Africans and Asians opting to migrate to this lovely area.
It was in the early 1900s, when Mexicali was first inhabited by farmers attracted by its fertile and lush agricultural lands. It was followed by the inflow of Chinese workers hired to build infrastructures and irrigation system in Mexicali. Thus a Chinese Community, the La Chinesca, was established between the streets of Avenido Madero and Calle Melgar. Currently, there is approximately 5,000 Chinese in Mexicali.
Mexicali experienced an economic and population booms in the 1920s due to the influx of Americans in the city. Mexicali became the drinking destination of Americans. Many restaurants, casinos, hotels and bars were step up in Mexicali that time.
Currently, there are around 850,000 inhabitants in Mexicali. This number is expected to increase at the rate of 2.5 percent yearly. Consequently, the demand for real estate in Mexicali is significantly rising. The Association of Promoters of Housing in Baja California (PROVIVAC) has stated that there exist a shortage of approximately 30,000 units and it is expected to increase annually for about 4,557.
The local government is taking steps to respond to this issue. They have worked together with the private sector in building more than 14,000 low-end houses to address this deficit in houses. The local government also simplified the processing of land and building permits to further motivate the real estate market in Mexicali.
For those individuals who want to formally settle in Mexicali, it is recommended that they first rent a place in the area for at least six months before actually buying a property. Interested buyers can get information regarding real estate properties in the local Mexican newspaper, as well as agency’s office windows. To avoid being a victim of fraud, buyers should check whether a particular agency is an accredited member of the Mexicali Real Estate Association.
Prospective real estate buyers can choose between the different property types in Mexicali. These are as follows: Mexicali Multi-Family, Mexicali Mixed-Used, Mexicali Office, Mexicali Retail, and Mexicali Light Industrial. The first type involves traditional, multi-family residential complexes located in downtown Mexicali and suburban markets. The Mixed-used properties combine residential with commercial uses such as retail and office spaces. Retail properties include a combination of businesses that cater to neighborhood residents. Lastly, the Light Industrial properties are single or multi-tenanted spaces utilized for warehouse, manufacturing, distribution, or research.