Real Estate in Mexico: Latin America’s Largest Economy

For as long as anyone can remember, a major political issue in the United States has been immigration from Mexico. In what ways should it be allowed? How secure should the borders be? Should those already here be granted amnesty? But as high taxes and an uncompetitive business environment hamper economic growth, and as government agencies such as the NSA continue their unprecedented surveillance of the “Land of the Free’s” own citizens, it’s unsurprising that some people find it less restrictive on the other side of the border.

Residency is also very easy to obtain in Mexico. Just by proving that you have “sufficient funds”, you can apply for a temporary resident permit lasting up to four years. The process is bureaucratic but straightforward in terms of approval. Owning a house or condo helps, of course, for proving that you have the necessary finances, but is definitely not required. After being a temporary resident for four years you can then apply for permanent residence, and afterward even become a Mexican citizen through naturalization.

Locations to Buy Real Estate in Mexico

Mexico is a large country with about half the population of the United States and about 1/5th that of Europe so, naturally, there are a lot of different places to buy real estate — many more than what can be covered in a single article.

For those wanting to learn more about real estate in Mexico, our real estate e-book has a large amount of information about not only Mexico, but all property all around the world. That said, the nation’s capital, Mexico City, is also the largest city in the Americas. Going between each of its neighborhoods, it quickly becomes apparent that many of them are so unique that it would be easy to think you’re in a different city.

Santa Fe, for example, is one of the most modern neighborhoods in the country. Several large multinational companies have relocated here and the district is home to no less than three universities. A youthful and educated population keeps growth strong. On the other end of the spectrum, San Angel is one of Mexico City’s more historic neighborhoods. The area was once a retreat for Spanish nobility, and many old buildings and colonial-era homes remain to this day.

The most prime area with the most expensive real estate is definitely the area around Chapultepec Park, which is the closest thing Mexico City has to Central Park. Because the area is very near entertainment, dining options, and a large number of multinational offices, prices are at a premium and rental yields remain high. For anyone who can afford it, a two-bedroom condo with a park view will have some of Mexico City’s highest rental yields at 7.5% or higher.

Read How to Buy Real Estate in Mexico

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