3 weeks ago my wife and I came back from our first holidays in Mexico and we fell in love with the country - so much that we’ve started considering investing in a house or an apartment over there.
The plan would be to treat it as a vacation home for 3 months out of the year and rent it out for the remainder of the time.
However, the whole process seems a bit overcomplicated for us (or maybe we’re just being too cautious) because according to a couple we met at our hotel, we can’t buy a property close to the shore unless we get a local bank involved in the deal. This is what put them off any investment as well. I came across What is the Restricted Zone in Mexico for Buying Property? this article which seems to confirm what they said.
We wanted to get a property in either Tulum or Playa del Carmen and I was wondering if there’s anyone with any first-hand experience of getting a property in the said restricted zone, and whether this process is safe for foreigners at all. Also, any opinions on whether such investment is even a good idea are highly welcome.
I’m aware that it’s a long shot but any feedback would be greatly appreciated,
A.