A strong US dollar has created many exciting opportunities for investors in Mexico real estate, including stunning homes, modern condos and income producing properties like vacation home rentals in some of the world’s most beautiful destinations. In fact, Mexico’s property market is heavily discounted for US buyers right now, with currency exchange rates offering savings larger than any we’ve seen in decades.
“Mexico is the number-one overseas destination for North Americans”, writes Forbes. “More than one million American expats call the country home and about 500,000 own a home in Mexico”.
While this really isn’t a new occurrence - Mexico has long been the number one beach vacation destination for US (and Canadian) travelers, as well as a top overseas retirement destination and expat haven for people of all ages - today’s fantastic exchange rates have made the prospect of buying investment property in Mexico even more appealing.
In most of Mexico’s top vacation (and therefore top property investment) destinations, real estate trades in US dollars, giving American buyers a distinct advantage in the form of increased buying power, compared to areas where real estate trades only in pesos. Mexico also offers rapid property appreciation, modern infrastructure, world class services and all the amenities of home in areas that are ideal for real estate investment, which helps maximize vacation home rental income.
“Mexico offers well-developed coastlines along the Pacific, the Gulf Coast and the Caribbean”, wrote Forbes. “Beach options are many, and it’s a misconception that foreigners can’t buy coastal property”.
In fact, the only restriction on foreign buyers is that real estate along the coast and near the border must be held in the buyer’s name by a bank trust known as a fideicomiso. This safe and proven method of ownership also contains a variety of protections for the buyer and allows real estate in Mexico to be bought and sold whenever the owner desires.
Finally, if you ever decide to live in Mexico full or part time, the country’s residency process is fast, easy and straightforward. Those seeking residency can even start the application process at a Mexican consulate in the United States and do not have to translate all of the necessary documents into Spanish, as required by most other non-English-speaking nations.
Do you have questions about buying real estate in Mexico? Post them in the comments!