Searches for luxury coastal property in Mexico by overseas buyers have increased by 27% since it was revealed that a 100 year restriction on foreigners buying by the sea is to be revised. In particular real estate investors from the UK have increased their number of enquiries while Americans are also interested in buying over the border.
Mexico’s lower house of congress voted in April to loosen restrictions on foreigners buying property in the area. Currently the law prohibits foreign ownership of land within 50 kilometres of the coast or 100 kilometres of an international border. Source and Full Story: Property Wire
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