If you are tired of the high real estate prices in the United States and Canada and feel like you may never be able to afford the property of your dreams there, it’s time to start looking internationally! Mexico’s low prices and easy purchase process will be a welcome relief to you. Here’s what you’ll want to know! 

It is legal for foreigners to own property in Mexico

Yes, your dream of owning a piece of paradise in the Caribbean is possible and legal. You do not need residency to purchase a property in Mexico. The Mexican government allows and encourages foreign investment. 

A Land Trust makes foreign ownership easy

Initially, there was a restricted zone defined as property within 60 miles of any border or within 30 miles of any coastline, including the real estate in Puerto Morelos. To attract investors to Mexico, The government put in place something called a fideicomiso, a legal, binding arrangement. 
 

The Fideicomiso protects the homeowner

Banks acting as trustees are federally approved to hold real estate trusts. And before they assign a Fideicomiso to a property or even work with a land developer, they perform a legal study to be sure you will not run into any issues regarding ownership or money owed later on. The banks charge an initial setup fee of approximately $2200 USD and an annual fee of roughly $550 USD. 
 

You have all the same rights as a property owner in your home country

The Trust is a legal substitute for simple ownership. As the beneficiary, you can sell your property without restriction. You may also transfer your rights to a third party or heirs. You have the same rights as a Mexican citizen regarding your property. The property title belongs to you, and the Mexican government cannot take it. 

Easy Closing Process

When you purchase a property from Selva Escondida, you are not alone. We have a dedicated team that will assist you with the closing process: no guesswork, no doubts, and no need to hire anyone else. Our closing experts will answer all your questions, making you feel confident and comfortable. We will be here with you from the day you decide to purchase to the day you receive your keys. 

Low Annual Property Expenses

In many parts of the United States and Canada, things like electricity, heating, and other monthly expenses are all but crushing… and then comes tax season. Here in Mexico, you will find the monthly utilities for your property to be very affordable, typically less than 100 USD. And property taxes are also reasonable, approximately 1% of the property value. 

High Capital Gains

The Riviera Maya shows gains of 8-10% annually, and Cancun, Puerto Morelos, and Playa del Carmen had the most significant growth in 2022, with a jump of 12.4%. Experts suggest that if you purchase a property in pre-construction, that figure could increase to 20-30%. 

Many people have made the dream a reality

You are not the first Americans or Canadians to pursue the dream of owning property near our beautiful Caribbean shores. There is a thriving community of foreign homeowners in Puerto Morelos.  They made it happen, and you can too! And we are here to help you. 

If you have any additional questions, don’t hesitate to reach out! We can’t wait to hear from you.