How to Invest in Tulum Real Estate: As a Foreign Citizen
Updated: Mar 31
When it comes to investing in real estate in Riviera Maya, Mexico, there are a few things you need to take into account. Making sure you have a professional real estate agency to hold your back is one of the most important ones.
How to Invest in Riviera Maya
Riviera Maya has been a great place to invest in real estate for a few years now. The states of Yucatan and Quintana Roo have a growing economy linked to tourism. They are two of the safest states in the country, and this is the reason why its international investments keep growing every year. Additionally, better developed infrastructure such as airports and Mayan trains are becoming real in the next few years. A relatively stable political environment helps too.
Foreigners who want to buy or invest in real estate in our country must enter into an agreement with the SRE (Ministry of Foreign Affairs). Such agreement is known as the Calvo Clause.
What does the Calvo Clause mention?
In order for the State to grant such right to foreigners, they must enter into an agreement whereby they are considered as nationals - Mexicans - with respect to the real estate that is subject to purchase. At iMexico Real Estate we can advise you on this matter.
In short, there are two ways for a foreigner to buy land or a property in Mexico if it is located in a restricted zone:
In a Mexican corporation for property or land that is not for residential purposes.
Through a bank trust for those with residential purposes.
No matter how you choose to invest, be sure to do your research and understand the risks and rewards involved. Also be sure to get professional advice to help you make the best decision for your needs.
The Advantages of Having a Professional Agent
Here are a few advantages of having a real estate company when investing in Mexico.
a) A well known Company with years of reputation will not disappear over the night
b) A based company in Riviera Maya will have many agents with a wealth of knowledge and experience that can help you understand the Mexican market for you to make the best decisions on your heritage
c) They can also help you avoid costly mistakes.
Conclusion
Whenever it comes to investing large amounts of money or medium to long-term financial commitments, it is best to do in-depth research and consult with experts who know very well the area or sector where we will invest our assets. real estate is not an exception and even less when trying to invest in another country