If you are an individual looking for an investment in real estate, Mexico presents itself with great opportunities. This large nation south of the borders has always been known for its breathtaking natural beauty and mesmerizing scenery. More and more families are enjoying their vacations in Mexico these days as they find them less expensive and more enjoyable because of uncharted and unexplored territories. You can make the most of this craze for Mexico by buying a luxury condo or vacation home.
Mexico has opened up for foreign investors and foreign nationals are allowed to own properties in the mainland but not in restricted zones. These restricted zones are until 62 miles from the border and 31 miles from the coastline. You can hope to own a residential property even in these restricted zones provided it has been approved by a bank trust or “fideicomiso” authorized by the Mexican government.
You must be aware of the taxation imposed by Mexican government on rental income before buying a vacation home there. Under the law, your tenant or the property manager remits 25% of the rent to the government while the rest is given to the owner. Mexico recently entered into a treaty with US, allowing US owners of properties in Mexico to pay taxes on net basis (after deduction of expanses).
With properties fetching daily rents in hundreds of US dollars these days, it is very alluring indeed for you to search for a suitable property inside your budget in Mexico. Do not forget to take help from an experienced and reliable local realtor. Not only does a local realtor know the area like the back of his palm but also has connections in Mexico real estate to get an attractive deal for you.
If you are looking for homes in Mexico, you must take a look at Nuevo Vallarta Real Estate. Nuevo Vallarta is a resort community that is situated in Mexican state of Nayarit. This planned residential community has different types of accommodations from luxury villas and condos to single family homes. Because of the surrounding natural beauty, beaches and crystal clear waters, sale of homes at Nuevo Vallarta has been brisk with investors from America and Canada showing great interest in buying vacation homes in this place. Buy a property at Nuevo Vallarta that you can easily rent out on a daily or a weekly basis to earn attractive rental income every year.