Quote:
Originally Posted by AdvertisingSex
don't you have to be a Mex citizen to buy property in Mexico?
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No you dont. You must have an FM3 which is like a green card, and if its coastal or border property then you have to have a Bank trust.
Quote:
Originally Posted by smax
I believe its beach front property that can only be owned by Mexican citizens
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No, Anyone can. You just have to have a bank trust. Scotia Bank from Canada which operates here in Mexico can do it for you. It cost about 4k to set up and about 2k a year to maintain.
As for that project they are talking about.. The last time they announced it, it was going to be in Baja so that they could get vehicle traffic from the states.
And yeah thats the same group that created Cancun. But if you have been to Cancun lately you might have noticed that things have gotten a bit out of hand with the construction. As of Last night, there were almost 2 times as many rooms for rent as there were tourists in cancun. Some of the hotels have entire floors shut down because of lack of bookings.
You can buy an ocean side condo 2 bed 2 bath in the 280k range in some DAMN nice buildings. But they are NOT selling.
and every day they continue working on at least 12 other buildings for the same thing.
they are OVER built here and will do the same thing there.