Searches for luxury coastal property in Mexico by overseas buyers have increased by 32% 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 and German 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 2013 to loosen restrictions on foreigners buying property in the area, and since then international online firm LuxuryEstate has seen a huge increase in sales inquiries.
Changes are likely to make it much easier for foreign buyers and real estate agents expect the number of inquiries to rise again once the changes have been ratified.
The resort towns of Cancun and Playa del Carmen are set to benefit the most, with 57% of all property searches by UK residents centered on the state of Quintana Roo, in which they are located.
Mexico is emerging as a particularly popular destination for British visitors with nearly 20% growth in the first quarter of 2014 alone and the UK now ranks third in terms of numbers of visitors to the country. International visitors to Mexico grew 6.8% in the same quarter overall.
To view properties in Quintana Roo you should visit MLS Mexico this is network of people Agents brokers and individuals that list property in a central location for people to search, for condos, apartments and beachfront land in Mexico.
If you are looking to sell your property there are buyers waiting in the wanted section check out the listing to compare the market value in your area.
Other helpful sites in the Quintana Roo are listing on Martindale
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