Overview of the real estate prices in Sinaloa, Mexico
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Located onthe west side of Mexico, Sinaloa isnestled along the Gulf of California across from Baja Sur. To the north is the Sonora and to the south is Nayarit. The capital of Sinaloa, Culiacán Rosales, is right in the center of the state.There are approximately 3 million people living within the 22,149 square miles of the state.
Known as ‘Mexico’s Breadbasket,’ Sinaloa is considered one of the most agriculturally productive states in the country and produces everything from tomatoes and beans to cotton and peanuts. On top of agriculture, Sinaloa is known to have the second largest fishing fleet in Mexico and produces a great deal of produce such as cheese and meats. TheAutonomous University of Sinaloa is a public university with several campuses in the state. Other notable higher education institutions include InstitutoTecnológico y de EstudiosSuperiores de Monterrey - Campus Sinaloa and Universidad Casa Blanca.
Sinaloa maintains strong influences from its Aztec and Mesoamerican history including the passing down one of the oldest sport in the worlds: Ulama. There were six major tribes located in Sinaloa prior to the arrival of the Spanish: Cahita, Tahue, Totorame, Pacaxee, Acaxee and Xixime.
You’ll find the Culiacán Zoo,the El Faro Lighthouse in Mazatlán and the Mazatlan's Cathedral Basílica de la Inmaculada Concepción which is the home of the Catholic Diocese of Mazatlán.
The climate in Sinaloa can vary depending on the region. The closer one is to the coast the hotter it is while the more mountainous regions experience a cooler climate. In cities like Mazatlán and Culiacán, the hottest months are June through October when temperatures average in the 90s. The rainiest time of the year is August when nearly a third of the annual rainfall occurs. The further north one lives in Sinaloa, such as in Los Mochis, there is less rain and hotter temperatures.
Real estate and rentals are more affordable on this side of the Gulf of California compared to the Los Cabos area of Baja California Sur. There are homes, condos and apartments being developed throughout Sinaloa and they vary in cost so they are sure to accommodate almost any budget and location preference.
Sinaloa is economically vibrant with a major agricultural and livestock industry as well as tourism along the coast. With dozens of universities, there is ample opportunity to receive a higher education, plus, with its culturally rich history, there is a lot that is attractiveabout Sinaloa.
From galleries to science museums to cathedrals, there are plenty of sights to see and cultural experiences to have in Sinaloa. In Culiacán, one can visit the Culiacán Cathedral and the Sinaloa Science Center.Mazatlán offers the Mazatlán Archeological Museum and the Mazatlán Museum of Art. The Regional Museum of El Fuerte Valley in Los Mochis showcases the history of Sinaloa.
Sinaloa hosts many great annual festivals and events including the International Carnival of Mazatlán which has been going on for over 115 years and the International Motorcycle Week which attracts thousands of bikers. In Culiacán, the Expo Agro Sinaloa takes place every year and is a highly-attended agricultural trade show.
A ballgame called Ulama is played in Sinaloa in a few communities. Considered one of the oldest, continuously played sports in the world, this ballgame was passed down by the Aztecs with origins which date back to 1600 BC.
Entertainment and Tourism
Baseball is the most popular sport in Sinaloa. There are four professional baseball teams in the Liga Mexicana delPacífico, an independent winter league. The four teams are the Tomateros de Culiacán, the Venados de Mazatlán, the Caneros de Los Mochis and the Algodoneros de Guasave. Each play at their own stadium in their respective city.
Sinaloa’s major cities have a vibrant nightlife with everything from high-end bars to local clubs. Some of the most popular include the Dolce – a nightclub in Culiacán - and Fiesta Land in Mazatlán which is the “epicenter” of nightlife in the city.
The three most populous cities/municipaities in Sinaloa is home to almost two-thirds of the population. Culiacán, Mazatlán and Ahome are all located along the Gulf of California.
Culiacán, also known as Culiacán Rosales, is the capital of Sinaloa. With over 675,000 people living in the city and over 850,000 in the municipality, Culiacán is a busy and vibrant place. There are 18 universities located in Culiacán alone and nearly one-third of the state’s economy is driven from this city. Agriculture is a major industry here with corn, meat and fish being staple products.
Mazatlán is a beautiful coastal city with the nickname “the Pacific Pearl.” Tourism and fishing are the city’s major industries. In fact, Mazatlán boasts the second largest fishing fleet in Mexico and shrimp and tuna are the most processed fish from this region. As a testament to fishing’s importance, the Mazatlán Aquarium is a major attraction.
There are over 650,000 residents in the Mazatlán metropolitan area.
Ahome is located on the far northwestern end of Sinaloa and is home to nearly 420,000 residents. Los Mochis is the famous community in Ahome and is where over 70% of the state’s agriculture is produced. Sugar cane, vegetables, cotton, rice and flowers are produced in Los Mochis.
Real Estate Market
There is plenty of investment taking place in Sinaloa especially in areas like Mazatlán where new developments are being planned and constructed. Luxury homes and condos are popping up and offering some beautiful options to those seeking a second home or a residence near the water.
Housing options are more expensive in Mazatlán than in Culiacán by nearly 25%. Across the Gulf of California in Cabo San Lucas, rent and housing prices are considerably higher. In fact, Mazatlán properties are over 40% cheaper than those across the gulf.
The housing market will be geared toward those seeking to purchase real estate on the coast or toward younger citizens because over half of the population of Sinaloa is under the age of 30.
For non-Mexican residents, there are restrictions in place regarding the purchase of real estate – an example being that foreigners cannot purchase property 31 miles from the coast. This puts a good portion of the populated areas of Sinaloa out of the reach of non-Mexican citizens. However, properties can be purchased by creating a bank trust, or Fideicomiso. Trusts are good for 50 years and can continuously be renewed for additional 50 years after that. The bank is considered the legal owner of the property.
Average Rent Price
1-bedroom apartment in City Centre
1-bedroom apartment Outside of Centre
3-bedroom apartment in City Centre
3-bedroom apartment Outside of Centre
Source: www.numbeo.com (May 2017)
There are dozens of major public and private colleges and universities located in Sinaloa including the Autonomous University of Sinaloa with campuses in several cities within the state. In Culiacán there are nearly 20 higher education institutions including the TecMilenio University, a private university with over 21,000 students.
Mexico’s education system is overseen by the federal government. The Secretary of Public Education (SEP) manages the education in both public and private schools; however, the higher education institutions such as colleges and universities do not necessarily fall under their management. School is free for six to sixteen year olds and English is frequently spoken, although foreigners will generally send their children to private schools were lessons are usually taught in English.