Home » Mexico » Mexico – Buying Property

Mexico – Buying Property

Legal Restrictions on Ownership or Sale of Property by Foreign Nationals in Mexico

Foreign nationals are allowed to purchase and own property in Mexico, however, they face restrictions regarding the ownership of properties within certain restricted zones. These restricted zones include areas near borders and coastal regions. Foreign nationals can only own properties in these areas if they go through a Mexican bank trust, also known as a “fideicomiso”.

Average Property Prices in Mexico

The average property price in Mexico varies depending on location, with prices in cities like Mexico City and Guadalajara being higher compared to smaller cities. On average, a small apartment in Mexico City can cost around $70,000, while a larger, more luxurious apartment can cost over $500,000. In smaller cities, prices tend to be lower, with an average cost of around $50,000 for a small apartment.

Popular Locations to Buy Property in Mexico

Some of the most popular locations to buy property in Mexico include:

Get Our Best Articles Every Month!

Get our free moving abroad email course AND our top stories in your inbox every month

Unsubscribe any time. We respect your privacy - read our privacy policy.

  • Playa del Carmen: a popular tourist destination with a strong expat community.
  • Puerto Vallarta: a popular coastal city known for its stunning beaches and vibrant nightlife.
  • Mexico City: Mexico’s capital city, offering a mix of modern and traditional culture.

Upcoming Areas in Mexico for Buying Property

  • Tulum: a popular tourist destination located on the Caribbean coast, known for its stunning beaches and ancient ruins.
  • San Miguel de Allende: a popular colonial city known for its stunning architecture and vibrant arts scene.
  • Guadalajara: Mexico’s second largest city, offering a mix of modern and traditional culture.

New Trends in the Property Market in Mexico

The property market in Mexico is constantly evolving, with new trends emerging regularly. Some of the latest trends in the Mexican property market include:

  • Increased demand for eco-friendly and sustainable properties.
  • Rising popularity of smaller, more affordable properties, such as apartments and townhouses.
  • Increased demand for properties in locations with strong rental potential, such as tourist destinations.

Is Buying Property a Good Investment in Mexico?

Buying property in Mexico can be a good investment, especially in areas with strong rental potential and growing tourist industries. However, it is important to conduct thorough research and seek advice from professionals before making a decision.

Common Property Types in Mexico

The most common property types in Mexico include apartments, townhouses, and detached houses. Some areas, such as coastal regions, also offer a range of villas and rural properties. Land-only properties are also available for those looking to build their own homes.

Typical House Buying Procedure in Mexico

  1. Finding a Property: The first step in buying a property in Mexico is to find a suitable property that meets your needs and budget. This can be done through real estate agents, online property portals, or by searching for properties on your own.

  2. Surveys/Inspections: Once you have found a property that you are interested in, it is important to have it inspected by a professional. This can include a building inspection, pest inspection, and a survey of the property’s boundaries. These inspections will help you to identify any potential issues with the property and give you a better understanding of its condition.

  3. Making an Offer: After you have completed the inspections, you can make an offer on the property. This should be done in writing and should include the purchase price, any contingencies, and the terms of the sale.

  4. Notary: A notary is required for buying a property in Mexico. The notary will ensure that the property is legally sound, and that all taxes and charges have been paid.

  5. Exchange of Contracts: Once the seller has accepted your offer, the next step is to exchange contracts. This is a formal agreement between the buyer and seller that sets out the terms of the sale. The contract should be signed by both parties and include all the details of the sale, such as the purchase price, closing date, and any contingencies.

  6. Closing: The final step in the buying process is the closing. This is when the buyer pays the purchase price and the property is transferred to the buyer’s name. The notary will handle the transfer of the title and the payment of the taxes.

Finding a Reputable Lawyer

When buying a property in Mexico, it is important to work with a reputable lawyer. The following are some tips on finding a good lawyer:

  • Ask for recommendations from other expats or real estate agents
  • Research the lawyer’s qualifications and experience
  • Check that the lawyer is a member of the Mexican Bar Association (Colegio de Abogados)

The Mexican Bar Association (Colegio de Abogados) is the professional organization for lawyers in Mexico.

Latest Videos

This error message is only visible to WordPress admins

Important: No API Key Entered.

Many features are not available without adding an API Key. Please go to the YouTube Feed settings page to add an API key after following these instructions.