It’s always wise to purchase a piece of land for sale in Mexico. The country has seen major improvements in the way it handles real estate in recent years and with the leveled currency exchange rate, someone from the US or Canada who retires in Mexico would actually enjoy a more comfortable life. The beaches are beautiful, the culture is rich with a perfect blend of native Mexican ancestry and Spanish influence, and the scenery in this country is just beautiful. Of course purchasing land takes more than appreciating the view. A lot of research is required especially when it comes to making a sizable investment. To start off, there are four different kinds of land for sale in Mexico.
The Coastal Line
First of all, there is the Federal Maritime Land Zone. This is actually government owned so even Mexican citizens cannot own this type of land. The land stretches across the international borders and all of the land that embraces the ocean, including the beaches along the Oaxaca Coast. It goes from the main high tide line all the way up sixty-six feet of the beach. You need to secure a special permit to rent this type of property and it is mostly used for beach resorts.
Then there is the Restricted Zone that goes from sixty-six feet off the beach to 32 miles off the ocean or 64 miles off the international borders. This is the land that foreigners are mostly after because it can be purchased via a Mexican Bank Trust, otherwise known as a fideicomiso. The reason why non-Mexicans are hot for this kind of land is because it empowers them of the rights they would have if they had purchased real estate in their own country. This means the land and whatever sits on it, whether a house or business property, can be leased, sold, and even inherited to their children. Mexican nationals do not need a fideicomiso to purchase the land and instead they simply have to acquire a deed referred to as the escritura publica.
Land for the Public
The Unrestricted Zone is any land that goes beyond the borders of the Restricted Zones. Foreigners can acquire this land without the use of the expensive fideicomiso procedure and simply have to acquire the escritura publica deed instead. Many of the colonial cities of Mexico fall under this kind of land.
Last in line is the Ejido land. Acquiring a deed for this kind of land is almost impossible and it is mostly sold by developers who promise that the title can be cleared after several years. It’s communal land anyway therefore it is only reasonable to pursue owning this kind of land if you own a Mexican corporation.
To purchase a piece of land, you will need to acquire either the fideicomiso or escritura publica deeds of sale and to have the legal documents properly signed by a Mexican Notary Public. Considering how good retirement life is in Mexico, and how relatively easy it can be for foreigners to acquire land for sale in Mexico, now may be the right time to look into your options before the market prices go up.