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The Opportunity
DISCOVER MÉXICO - LAND OF OPPORTUNITY Never in history has México been better positioned to advance in every sector. In 2001, the Mexican Peso was one of the few currencies to gain against the US Collar, Moody's Investors Service upgraded México's sovereign debt rating to the very lowest rung of the investment-grade category, and in October, the flow of foreign capital into the Mexican stock market rose 6.19%. Vacation, retirement and commercial real estate investments by foreigners are escalating. As a December 21, 2001 Associated Press article, Headed South, stated; "American vacationers view the United States' southern neighbor as safe from terrorist attacks, unlike Europe and Asia, where the travel business is still struggling. |
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Foreign Investment in Mexican Real Estate
Foreigners may legally and safely purchase real estate in México, may own direct title to real estate in the republic’s interior, and may acquire property either in the interior or in the restricted coastal and border zones by possession through a fiduciary trust.
The procedure for a foreigner to legally acquire direct title to non-restricted Mexican real estate consists of submitting the appropriate documentation to, and then receiving acknowledgement from, an authorized office of the Mexican Secretary of Exterior Relations/Foreign Affairs. Proof of identification and nationality, along with a precise legal description of the specific property are required.Purchase Methods Conventional mortgage financing through Mexican and foreign lenders is becoming more widely available with increasingly competitive interest rates, however, to date, most foreign purchases are cash transactions. Once the final price is negotiated, the purchase process can usually be completed within as little as two weeks, generally beginning with a purchase contract secured by a 10% down payment, and ending upon final payment with the seller’s transfer of title to the new owner in the presence of a Notary Pubic who prepares the new owner's title and registers it in the appropriate Public Registry.