has thousands of miles of pristine coastline, wonderful colonial
cities which boast architectural wonders stretching back many
hundreds of years, and diverse expatriate communities of Americans
and Canadians scattered throughout the country. The Mexican
government is encouraging the expansion of tourism and investment
in Mexico. Anyone can acquire real estate in Mexico if some
simple rules are understood.
Mexicans by birth or naturalization can buy real estate anywhere
may purchase real estate directly in their own names throughout
the interior of Mexico.
In addition, foreigners may buy property near the border and
the coastline in the area referred to as the restricted zone
(about 31 miles inland from the ocean and about 62 miles from
the borders) as the beneficiary of a bank trust.
The Mexican Peso has been the strongest currency in the world
(yes, in the world) in the past four years. The Peso is now
slightly overvalued against many other world currencies. Still
capital inflow from North of the border and oil export revenues
will keep the currency very stable.
Mexico Real Estate - Prospects
Thousands of people from countries around the world own real
estate in many parts of Mexico. It has been estimated
that 300,000 to 500,000 Americans and Canadians spend over
six months each year in Mexico. Many own real estate.
As U.S. baby boomers grow older, more and more will be setting
their sights on a secure retirement which includes spending
part of the year in Mexico. Many will buy a condo, house or
villa in one of the many choice beachfront or other interesting
locations around the country.
Currently the states of Arizona and Sonora are working together
to develop reciprocal licensing requirements for real estate
agents--classroom training, experience, and background checks.
As the two countries become more similar in their real estate
practices and procedures, buying real estate in Mexico will
become even easier for American citizens.