Can foreigners own property in Mexico?

Yes, foreigners may purchase real estate by acquiring irrevocable and absolute ownership rights to property in Mexico through a 50-year perpetually renewable and transferable Bank Trust called a Fideicomiso. This Trust is a legal substitute for deeded ownership and is provided specifically for non-nationals to own property in the formerly restricted zones (border and beach areas.). The buyer can appoint the Mexican bank of their choice to act as a trustee on their behalf. As a trustee, the bank will actually legally own the property. However, all the rights to the property will exclusively be held by the buyer. What this means is that the buyer will be able to use, improve, lease, sell or transfer the property to a third party, in short he holds all the benefits of a direct owner of the property.

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• What are the fees related to buying a property in Mexico?*

  
  There is an initial cost and a yearly cost.
  The initial cost include a 2% property transfer tax, fee for the Notario and title registration fees as well as FIDEICOMISO bank trust fee  . On average, you should figure the fees will total approx. 6% to 8% of the purchase price.

  The predial (property tax) is 0.1% of the assessed value, paid annually. The value of the real estate is determined at the time of sale.
  The fideicomiso annual cost is around  $450 to $500 USD per year.

  (SOURCE: International Living, www.Mexperience.com, www.topmexicorealestate.com, www.mexconnect.com)

• What is the temperature in Huatulco?
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  The weather is semihumid with a year-round average temperature of 82 °F (28° C). Winter temperatures are never below 57°F (14°C), whereas late spring and summer maximum temperatures increase 100° F (38°C).
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  • What is the approximate cost of living in Huatulco? *

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    It is difficult to maintain a cost of living database because the costs keep changing and prices vary between seasons, areas and stores. Generally, it is cheaper to live in Mexico for most lifestyles.
    Fresh fruit, vegetables, poultry, meat, bakery items, buses, insurance, health care, personal services, car repairs, and property taxes are all cheaper, and in some cases much cheaper in Mexico. Cosmetics, toiletries, imported foods, some clothing, and gasoline are generally more expensive.
    (SOURCE: expatforum.com)

    Other expenses:

    NATURAL GAS

    • For stationary gas tank, the average use for a household of 4 members is 60 lt bimonthly, equivalent to $30 USD

     (SOURCE: GAS DE OAXACA)

     

  • WATER SEWAGE

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  • One person consumes an average of 40 liters daily .

    • For a household of 4 people the average use of water is 50 sq mt equivalent to $15 USD
    • Price per 1 sq mt is $.60 cents USD

    (SOURCE: FONATUR BMO)

     

  • ELECTRICITY

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    Electricity costs vary according to the use of each household.
    If you use air-conditioning regularly you will be paying $ 90.00 USD monthly approximately.

    *PLEASE NOTE THAT THESE COSTS ARE APPROXIMATE