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Report of the survey of US Traveler Households

Report of the survey of US Traveler Households

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Report of the survey of US Traveler Households

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  1. Report of the survey of US Traveler Households Estudio de Mercado

  2. Table of Contents

  3. Executive summary

  4. Executive summarysurvey of US households 537 US households 55 to 74 years of age who have annual household incomes of $50,000 or more and who are frequent travelers and who have traveled to México completed a survey and conjoint analysis study via the Internet in February and March 2011. The primary purpose was to learn what proportion of the households who have traveled to México, would consider moving to Mérida or elsewhere in the State of Yucatán. The survey included factual background information about the culture, amenities, activities, services, housing, healthcare and safety and security of Mérida and the State of Yucatán and dozens of photographs that highlighted attractions, neighborhoods and homes. These results highlight characteristics of these frequent travelers and their likelihood of purchasing a home in Mérida or the State of Yucatán. The final section of this report discusses the homes they would buy and develops an estimate of demand for housing in Mérida or the State of Yucatán from U.S. households who have traveled to México between the ages of 55 and 74 years of age. Results Survey Respondents Were Included if They Traveled to México • 90% of the respondents have traveled outside of the US at least once and 52% have traveled abroad three or more times in the last five years • 24 (34%) of the 71 destinations listed as places traveled to most frequently are in México • 87% of the survey respondents have traveled in México • 5% have family members living in México • 79% of the US survey respondents who have been to México have never been to Mérida. • 76% of those who visited Mérida visited for leisure or vacation, 21% visited for business and leisure and 3% visited for business • 58% of the respondents who have visited Mérida think it is an appealing place to live Source: SIFIDEY Survey of US Households 2011

  5. Executive summarysurvey of US households Likelihood of Buying or Renting a Home in Mérida or the State of Yucatán • Among this sample of households who have traveled to México, 7% are likely or very likely and 27% might purchase or rent a home in México. • Among those who would consider purchasing a home in México, 36% are likely or very likely and 51% might purchase or rent a home in Mérida or the State of Yucatán. • 48% said their home would sell for between $100,000 and $299,999 and 42% said their home has a value of $300,000 or more. • 36% prefer an all-age neighborhood, 24% preferred an age-qualified neighborhood. And 40% responded that the age of their neighbors does not matter. • Among those who said they are likely to purchase or rent a home somewhere in México, 13% said it is likely or very likely and an additional 68% said they might purchase or rent a home in the State of Yucatán. • 62% said they would like to rent a home initially and eventually purchase a home, 16% will purchase a home from the outset and 22% prefer to rent a home in México. • 61% said they would not have to sell their home in the U.S. to purchase a home in México. Characteristics of Survey Participants and Those Who Would Consider Buying in Mérida or the State of Yucatán • Frequent travelers who have traveled to México Age range between 55 and 74 years • 81% do not speak any Spanish • 70% who are likely to purchase or rent a home in Mérida or the Yucatán are married • 57% have at least a four-year college degree and an additional 34% have had at least some college • 57% have incomes in the range between $50,000 and $99,999 and 35% have incomes of $100,000 or more Source: SIFIDEY Survey of US Households 2011

  6. Introduction ProMatura completed a survey and conjoint analysis study of US households 55 to 74 years of age who have annual household incomes of $50,000 or more and who are frequent travelers and have traveled to México in February and March 2011. A total of 537 households completed sections of the survey. Some sections in the survey were designed to be completed by sub-groups who met specific criteria. The purposes of the large-scale Internet survey were to obtain statistically valid data from a representative sample of prospective home buyers to define and delineate: • What consumers want in a primary or secondary home, • Who they are, • The amount they will pay, • When they are likely to purchase, and • The total estimated size of the market from among households who meet the characteristics described above. Specific Objectives • Complete a comprehensive survey with a conjoint analysis study hosted on the Internet. • Identify households in the U.S. who have traveled in México who would consider purchasing a home in Mérida, Progreso or other areas of the State of Yucatán. • Learn the type of home and community the prospective home buyers want and how much they will pay to get the community, home, services and amenities that they want. • Identify their knowledge and previous history with Mérida/Progreso/State of Yucatán. • Identify the attributes of the target market sectors who would consider purchasing a home in Mérida/Progreso/State of Yucatán; and • Define the key attributes that people want when moving to a new home, neighborhood, community, or area in Mérida/Progreso/State of Yucatán. Source: SIFIDEY Survey of US Households 2011

  7. Travel to México México Yucatán Peninsula Mérida and the State of Yucatán

  8. Ever Been to México Eighty-seven percent of the 537 survey respondents have visited México and 4% have lived in México, leaving only 9% of the respondents who have never been to México. The participants in this study were recruited because they had traveled to México. The small proportion who have not traveled to México, did not answer the screening question relative to prior travel to México. They have been included in the analyses because their results did not differ from those who have traveled to México. We studied a random sample of frequent travelers who have traveled to México as opposed to studying a random sample of all US households in the age and income-sectors, because we wanted to maximize the efficiency of finding households who may be interested in purchasing or renting a primary or secondary home in México. We studied the market who have the greatest probability of migrating to México. The results of this study should not be used to project demand for housing for the total US market sector. The user of these results must take care to limit projections to comparable households who are travelers to México. Source: SIFIDEY Survey of US Households 2011

  9. Family in México Five percent of the US respondents have family who live in México. Among the 22 US households who listed where their family members live all listed a different location with the exception of two who have family in México City. Source: SIFIDEY Survey of US Households 2011

  10. Times Visited México Seventy-three percent of the 486 who have visited México have been in the country three or more times. Forty-one percent have been in México five or more times. These results suggest that advertising and marketing should be tied to travel-related web-sites and other media. Marketing does not need to focus solely on sites related to México. Among the people who have traveled to México, 40% have been in México more than five times. Source: SIFIDEY Survey of US Households 2011

  11. Primary Reasons for Visit to México The primary reasons the US travelers have been to México was for vacations (25%), cruises (14%) or other leisure-related activities. Three percent of the frequent travelers said they had visited México for business purposes. Other reasons small percentages of respondents visited México included visiting family, attending weddings, birthday parties or funerals, visiting friends, mission trips, and for medical or dental care. Source: SIFIDEY Survey of US Households 2011

  12. Number of times visited anywhere in Yucatán Peninsula More than half of the survey respondents (58%) have visited somewhere in the Yucatán Peninsula. Among those who have visited the Yucatán Peninsula, 39% have visited once, 21% have visited it twice, and 40% have visited three or more times. Market in Cancún and the Riviera Maya The enormous numbers of US and Canadian households traveling to Cancún provides the most fertile grounds for finding prospective households for the State of Yucatán. Marketing in Cancún and other areas of the Riviera Maya will likely yield the highest return on investment. There is no marketing of Mérida or other significant attractions in the State of Yucatán in the airport. The majority of marketing found relates to Chichen Itza and Uxmal. Both of these archeological sites are significant attractions, but the area surrounding them are not conducive to enticing people for long term stays. There are not towns with sufficient appeal nearby, and the travel to these sites is typically by bus or rental car through an area that is relatively barren. Source: SIFIDEY Survey of US Households 2011

  13. Opinion of Yucatán as a Place to Move Fifty-six percent rated the Yucatán peninsula as an appealing or very appealing place to move. Only 10% rated the peninsula as an unappealing place to move. These results support the need and potential to capture market share from Cancún and the Riviera Maya. Source: SIFIDEY Survey of US Households 2011

  14. Reason for Opinion of Yucatán Peninsula The vast majority of comments about the Yucatán Peninsula were positive. • “Based on my exposure of the area it is very appealing and have always experienced good things.” 13% of the comments related to the feeling that the area is unsafe or that there is too much crime. • “At this time I don't consider México safe.” • “Beautiful area, good climate, somewhat dirty in areas, somewhat leery of crime.” • “Beautiful. Questions about security, drug lords, English speaking population.” • “Did not see much of the permanent infrastructure. I guess the image has been tainted by news from other parts of México.” Source: SIFIDEY Survey of US Households 2011

  15. Number of times visit mérida Seventy-nine percent of the US survey respondents who have been to México have never been to Mérida. Twenty-one percent of the respondents have been to Mérida one or more times. Among those who have been to Mérida the majority (55%) have been there only one time. People traveling to other locations in México will be excellent sources of visitors to Mérida and other areas in the State of Yucatán. You don’t have to convince them to visit México, you only need to convince them of the benefits and pleasures they will enjoy by adding a few days to travel to Mérida and the State of Yucatán. Source: SIFIDEY Survey of US Households 2011

  16. Reason for Visiting Mérida Seventy-six percent of the US households who visited Mérida were in the city solely as a vacation or leisure trip. An additional 21% combined business with leisure. Three percent visited Mérida solely for business purposes. Source: SIFIDEY Survey of US Households 2011

  17. Opinion of Mérida as A Place to Move The Internet survey began with several screens of information about Mérida and the State of Yucatán and statistics about the climate, population, medical services, safety and more. All survey respondents were asked to rate their opinion of Mérida as a place to live. The darker green bars show that 45% of all of the survey respondents rated Mérida as an appealing place to live. The lighter green bars represent the responses of those who have visited Mérida at least once. Fifty-eight percent of those who have visited Mérida state that it is an appealing place to move. Getting people to visit Mérida will increase the probability of their moving to the area. Source: SIFIDEY Survey of US Households 2011

  18. Reason for Your Opinion of Mérida Three fourths of the comments made about “the appeal of Mérida as a place to live” were positive. • “Based on the information in this survey, Mérida looks very appealing.” • “Based on what I read in this survey Mérida appears to be definitely a place I would at least visit and look at possibly for a vacation home.” • “Costs are lower. Weather is appealing. Medical care is available and reasonably priced.” Approximately 25% of the comments about the appeal of Mérida as a place to live among these US travelers were negative and were related to crime and safety, were not necessarily related to Mérida or the State of Yucatán. • “All the conflict in México currently would not like to chance that remote of a travel destination in México.” • “Amenities are satisfactory. Weather, maybe not. Ownership issues with the government have surfaced with many of my friends who live in México 6 months each year and own their place.” Mérida’s safety and differences from other areas of México need to be publicized. Source: SIFIDEY Survey of US Households 2011

  19. Times Traveled Outside Home Country This survey was completed among households headed by someone between the ages of 55 and 74 years of age who are considered travelers. • 90% have traveled outside of the US at least once in the past five years. • More than half (52%) have traveled outside of the US more than three times in the past five years. People traveling to other locations in México will be excellent sources of visitors to Mérida and other areas in the State of Yucatán. You don’t have to convince them to visit México, you only need to convince them of the benefits and pleasures they will enjoy by adding a few days to travel to Mérida and the State of Yucatán. Source: SIFIDEY Survey of US Households 2011

  20. Length of Trips Outside Home Country The majority of the US respondents (52%) take trips of five to nine days when they travel out of the country. Twelve percent travel fewer than five days and 36% travel 10 or more days. Almost half have a favorite destination to which they travel. Of the 71 destinations listed (next page) as places traveled to most frequently, 24 (34%) are in México. Source: SIFIDEY Survey of US Households 2011

  21. Location traveled to Most Frequently Source: SIFIDEY Survey of US Households 2011 Approximately 12% of the travelers indicated somewhere in the Yucatán peninsula as a place they travel to most frequently.

  22. Why do you travel there frequently? Reasons given for traveling to a destination more frequently include the same reasons why people choose to visit Mérida or the State of Yucatán. A few notable reasons listed include that they visit family and friends (9%). It is worth to note that fewer than 1% listed they travel to an area for healthcare. Medical tourism is a growing industry, but it has not yet become among the reasons why people travel to specific areas. Source: SIFIDEY Survey of US Households 2011

  23. Spanish Speaking Abilities • 8% of the survey participants said they can speak enough Spanish to conduct a conversation. • Most (81%) either don’t speak any Spanish or can utter a few phrases. Personnel in Visitor Centers and public safety officers (police), must be capable of conversing in English. Source: SIFIDEY Survey of US Households 2011

  24. Current residence

  25. Size of Current Home The mean (average) size of the homes in which the US respondents lives is 2,312 square feet (215 m2). Forty-three percent have homes between 1,500 and 2,499 SQ FT (139 to 232 m2). There is not a statistically significant difference in the size of their homes between those who are likely to move to the area and those who are unlikely to move. Source: SIFIDEY Survey of US Households 2011

  26. Opinion of Size of Current Home Ninety-one percent of the US survey respondents own their home and 7% rent. Three-fourths of the respondents rated the size of the home “as just about right.” The average size of those who said their home is “just about right” is 2,247 SQ FT (209 m2). Those who say their home is too large have an average size of 2,938 SQ FT (273 m2). And those who think their home is too small have an average size of 1,521 SQ FT (141 m2). Households who rent their homes (30%) are significantly more likely to purchase a home in the next five years than those who own their homes (9%) (p <.001). Households who rate their homes as “too large” are significantly more likely to purchase a home in the next five years than households who rate their homes as just right or too small (p <.001). Source: SIFIDEY Survey of US Households 2011

  27. Home Value The US survey respondents estimated the value of their homes if they were to sell them today. Forty-eight percent said their home would sell for between $100,000 and $299,999 and 42% said their home has a value of $300,000 or more. There was not a statistically significant difference in the estimated value of their homes between the Prospects and the Non-Movers. The median home price in the US in March 2011 was $160,000. The median home price, the point at which half of all homes are sold for more and half are sold for less, increased all around the US in March. In the Northeast, the median price rose to $232,900 from $230,200 in February, but it was down 3.0 percent over last year's price. The median price in the Midwest climbed to $126,100 in March from $122,000. The new price is down 7.1 percent from the year before. In the South, the price rose to $138,200 from $134,600 in February and fell 6.6 percent in a year-over-year comparison. The median price in the West increased to $192,100 from $190,000. It dropped 11.2 percent, however, from the previous year. Source: National Association of Realtors (May 2, 2011). http://www.realestateabc.com/outlook/overall.htm Source: SIFIDEY Survey of US Households 2011

  28. Number of Residences Twenty-five percent of the 464 survey respondents who said they own a home, own two or more homes. Prospects (14%) are significantly more likely (p < .02) to own three or more homes than non-movers (6%). Source: SIFIDEY Survey of US Households 2011

  29. Buying or renting a home in México and specifically Mérida or the state of Yucatán Asked relative to buying in México and in Mérida and the State of Yucatán

  30. Likelihood of Purchasing/Renting a Home Seventeen percent of the survey respondents said they are likely or very likely to purchase a home in the next five years. Among the total sample of survey participants, 7% said they are likely or very likely and 27% of the total sample of households they might purchase or rent a home in México. Source: SIFIDEY Survey of US Households 2011

  31. Buy or Rent in México Among the households who might buy or rent a home in México, 62% said they would like to rent a home initially and eventually purchase a home, 16% will purchase a home from the outset and 22% prefer to rent a home in México. When you see this box, it means the number of respondents who answered the question is small. These results are good for understanding potential trends. Do not use the results from this question to make important decisions. Source: SIFIDEY Survey of US Households 2011

  32. Towns and Areas You have Visited in México to Evaluate as a Place You Might Live Forty-one respondents listed a location in México that they have visited to evaluate it as a place they might live and 12 respondents said they have visited residential communities to view homes. Fifteen of the 41 respondents listed areas in the Yucatán Peninsula. Source: SIFIDEY Survey of US Households 2011

  33. Steps You’ve Taken Toward Purchasing/Renting a Home in México Fifty percent of those who would consider purchasing or renting a home in México said they have not yet done anything to begin the search for a place to live in México. Twenty-eight percent have searched the Internet, 18% have requested brochures and 6% have attended an Expo. One respondent said they had read a book about moving to México and one additional said had read articles in International Living. Source: SIFIDEY Survey of US Households 2011

  34. Purchasing or Renting a Home in Yucatán Early in the survey, before all of the information had been presented about the homes, neighborhoods and opportunities of Mérida and the State of Yucatán, 13% of the survey respondents said they are likely to purchase or rent a home somewhere in México, said it is likely or very likely they will purchase or rent a home in Mérida or the State of Yucatán and an additional 68% said they might purchase or rent a home in the state. Only 19% said it was unlikely or very unlikely they would consider purchasing a home in the State of Yucatán. Sixty-two percent of the respondents said their time frame for purchasing or renting a home is within five years. Source: SIFIDEY Survey of US Households 2011

  35. Do You intend to live Permanently in México Most (58%) of the prospective purchasers/renters don’t know what they will do long-term in México. Twenty-eight percent believe they will live in México temporarily but then return to their country of origin. And, 14% believe they will move permanently to México. These proportions are similar in nature to those of the Expats living in Mérida or the surrounding area who were asked their intentions relative to moving from their home: 29% said they were likely to move from their home, 24% were unsure and 56% were unsure (See SIFIDEY Expat survey report). Source: SIFIDEY Survey of US Households 2011

  36. Which Type of Neighborhood would You Prefer? The respondents who would consider purchasing or renting a home in Mérida or the State of Yucatán were asked to identify the type of neighborhood they prefer. We supplied short definitions and pictures of each type of neighborhood. The definitions included a statement about the amount of vehicular traffic in each area. The largest proportion (31%) were unsure where they would prefer and the second largest proportion (28%) preferred a new planned community. These results should be taken as general indicators because the pictures represented only one or two images from each type of area and could not capture the beauty, amenities, types of neighbors, etc., in each area. Investors and developers should complete an objective study of prospective consumers for the concepts they have for a community, prior to spending significant funds on its development. Source: SIFIDEY Survey of US Households 2011

  37. Ages of Residents in Your Neighborhood The respondents were asked, “What ages would you prefer the residents of your neighborhood to be?” An all-age neighborhood where anyone of any age can live, An age-qualified neighborhood or community where at least one resident must be 55 or better, and no one may be under the age of 20 years, or Either one, it doesn’t matter. The greatest proportion (40%) responded that the age of their neighbors does not matter. The proportion who prefer an all-age neighborhood (36%) was slightly higher than those who preferred an age-qualified neighborhood (24%). The active lifestyle industry in the US and other countries is changing constantly. Many are mixing intergenerational areas with other areas that are age-qualified. The most important element of a community is to ensure you are creating the lifestyle that your customers want. You need to learn from a representative sample of prospective customers, what it is that will make this community the one that they will choose. Source: SIFIDEY Survey of US Households 2011

  38. Awareness of Active Adult Communities • Forty-seven percent of the entire sample of 527 respondents said they are familiar with active adult communities. When asked to name a community only 33 provided names, among which 54% (18 respondents) listed Del Webb, Sun City or a specific Sun City community by Del Webb. • Among the 49 respondents who listed a location in which the community was located Florida (10 respondents) and Arizona (7 respondents) were the most frequently mentioned. One respondent was aware of a community for each of the countries of Belize, Canada and Nicaragua and the balance were all on the US. Source: SIFIDEY Survey of US Households 2011

  39. Likelihood of Moving to an Active Adult Community in Mérida or State of Yucatán We asked the 164 respondents who would consider moving to Mérida or the State of Yucatán, “If it were available, how likely is it you would move to an active adult community in Mérida or the surrounding area?” Almost one-fourth (23%) said would be likely or very likely to move to an active adult community in this geographic area and another 56% were unsure. Among those who would consider moving to Mérida or the State of Yucatán, the proportion of households who would consider moving to an active adult community in Mérida or the surrounding area is as high or slightly higher than we have measured in the US This suggests the market for a well-designed active lifestyle community may increase the attraction of Mérida and the surrounding area. Source: SIFIDEY Survey of US Households 2011

  40. Community Preference Among the 37 respondents who said they were likely to move to an active adult community, a slightly greater proportion (43%) preferred a community that is only active adult housing, 27% preferred an active adult with a continuum of care (see definition in Text Box below), and 30% did not know which they would prefer. Small Sample ! By a continuum of care community we mean a community that provides housing such as independent living with services including housekeeping, a dining program, transportation, and social and recreational opportunities; assisted living that includes all of the above plus assistance with daily activities; and nursing care services that provides all of the services listed above as well as nursing care provided by health care professionals. The preference for having a continuum of care on and active lifestyle campus will be influenced significantly by the design of the community and the positioning and marketing of the community. These results suggest that an active lifestyle community that incorporates a continuum of care adjacent to the active housing campus is likely to have significant draw among prospective consumers and will serve its customers for a longer period of time. Source: SIFIDEY Survey of US Households 2011

  41. When Do You Anticipate You Might Move to An Active Adult Community? The results among this small sample of respondents suggest that half of those who would consider moving to an active adult community are planning to move within five years. Small Sample ! Source: SIFIDEY Survey of US Households 2011

  42. Independent Living Communities One-third of the survey respondents who would consider moving to Mérida or the State of Yucatán are aware of independent living communities. This small group was asked to name communities, and about one-fourth (12 respondents gave names of specific communities). The sample size of respondents who are aware of independent living is too small to draw conclusions about their propensity to move to a community, particularly if it was located in México. These results are typical. Fewer than 7% of the population 75+ years of age lives in independent living residences in the US The majority of the people are unaware of the terminology of this industry and often confuse one type of age-qualified housing with other types. Independent Living community (may be part of a community with a continuum of care, CCRC): AnIndependent Living Community is usually a multifamily apartment complex that has a dining program on-site. The individual apartments usually have kitchens, but the community may have one or more dining rooms where typically most residents eat their “big meal” each day. Basic services such as housekeeping, transportation, and dining programs are typically included in the fee. Fees or rent are paid monthly. The community typically provides various educational, entertainment, cultural, fitness, and wellness opportunities. Source: SIFIDEY Survey of US Households 2011 Source: SIFIDEY Expat Survey 2011

  43. Importance of Having Near-by Care Services The State of Yucatán should promote and support the development of quality care services for people who are unable to live independently. Among the households who would consider moving to Mérida or the State of Yucatán, 28% believe that it is important to have a residential community available that provides supportive, assisted living services for someone unable to live independently is important. For many people considering a move to the Mérida area, having access to supportive services that will help them should their health or self-care abilities fail is important. At present, Mérida does not have a contemporary model of independent living or assisted living services. A Word of Caution. The market sectors who are thinking of moving to the Mérida area for active lifestyle living are first looking for a top-quality lifestyle that matches their personality and perception of the way the way want to live their life. These customers are looking for lifestyle first. Do not lead the design and positioning of an active lifestyle community by focusing on healthcare and assistive living. If these resources are available it will help attract individuals for whom this is an important consideration. But the majority moving from another country will be interested in active lifestyle housing. Identify assisted living or other services are available in a tertiary level of marketing, not in your primary marketing message. Source: SIFIDEY Survey of US Households 2011

  44. Awareness of Tax Exemptions Households who would consider moving to Mérida or other areas in the State of Yucatán are unaware of tax advantages from which they may benefit when moving to México. We asked the survey participants, “Before reading this statement, were you aware that if you spend more than 182 days per year in México you are eligible for a US tax exemption on your first $90,000 of US earned income, or $180,000 per couple?” Eighty-nine percent of the survey respondents contemplating moving to Mérida or the surrounding areas were unaware of the tax exemption. This, and other information will be important to help prospective residents learn and understand how they can obtain these benefits. State of Yucatán Support. The State of Yucatán needs to take the lead in developing reliable, correct, easy-to-access information that will help the 50+ market sector make their decision to purchase or rent a home in the state, and will assist them in completing the many business and legal transactions that must be accomplished. Source: SIFIDEY Survey of US Households 2011

  45. What Would Influence Your Decision To Purchase A Home in México? Site-unseen, the US respondents were asked to rate the influence of five topics on their decision to purchase a home in México. In this question we did not include renting a home or just living in México, but rather we focused on purchasing a home. As you might expect immediate access to health care services and affordable health care services were listed as a “very positive influence” by 57% of the respondents, and following closely is being able to get “the most house for the least amount of money” (50%). Having activities coordinated by the community (36% very positive influence) and affordable domestic assistance (31%) will have a positive impact on the decision, but health care and obtaining a quality home for less will have greater impact on the purchase decision. Source: SIFIDEY Survey of US Households 2011

  46. Preference of Location as a Place to Live Without really knowing anything specific about the locations, the respondents were asked to rate their preferences relative to a location. These results should be considered as general trends, but should not be used to plan a community. People love the ocean and small towns, so when you combine and ocean front residence in a small-town you have a winning combination. Fifty-seven percent of the respondents who would consider moving to Mérida of the state said that an ocean-front residence is a small town is very desirable. And, as you see in the table below having a home within walking distance of the ocean is more desirable than having a home in a central area of an inland city. Caution. It is likely that many people are thinking about clean beaches and towns with good zoning laws that protect the quality and integrity of the neighborhoods when they answer this question. Progreso and miles of beach front homes are in poor condition and will not be acceptable to many prospective buyers. Some buyers, of course, will be willing to trade-off the quality of the surrounding areas and the environment for a lower price, but most have not seen the condition of the much of the coastal area near Mérida. Source: SIFIDEY Survey of US Households 2011

  47. Desirability of Types of Homes The respondents were asked to rate the desirability of four types of homes, irrespective of the location. Slightly more than one third (34%) said a new home is very desirable. In contrast half as many (16%) said a historical home that has been restored and modernized, 14% identified a resale modern home, and only 6% said that a historical home that needs to be fixed up were very desirable. Photographs and descriptions were provided of these four types of homes. These results are fairly consistent with trends observed in the US among 55+ households who are looking for a home. A greater proportion prefer a home that is new and move-in ready with only minor involvement with construction and decision-making once they have picked a floor plan they like. And, only a small proportion of adventurous people are interested in taking on a major renovation project. Source: SIFIDEY Survey of US Households 2011

  48. Desirability of Services The services that are desired by the largest proportion of respondents who are considering moving to the area are those that provide a sense of security and convenience. Services such as 24-hour security and a home monitoring device are desired by a significantly larger proportion of respondents than concierge, personal care services or the services received in a continuing care retirement community. Source: SIFIDEY Survey of US Households 2011

  49. Distance to Major Medical Service The majority (52%) of respondents would like to be within a 10-minute drive of medical services, an additional 29% will accept a drive up to 30 minutes, and 12% do not care where medical services are located relative to where they live. A small proportion would like to be within walking distance. The locations of hospitals in Mérida will likely satisfy many prospective 50+ foreign households. Source: SIFIDEY Survey of US Households 2011

  50. Preference of Type of Residence We asked the respondents who would consider purchasing a home in Mérida or the nearby area the type of residence they would be likely to purchase. Fifty-six percent would be very likely and 37% would be likely to purchase a one-story single-family detached home. This preference is consistent with that measured in a national study of US households headed by someone 55 to 74 years of age completed by the ProMatura Group in 2006. In the 2006 study 57% said they would be very likely (57%) to purchase a one-story single-family detached home. The respondents were asked to rate each type of home by their likelihood of purchasing it. As a result we see that the proportions who are “very likely” to purchase any of the homes other than the one-story, single- family detached home are significantly smaller for each of the other types of homes. Source: SIFIDEY Survey of US Households 2011