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Everything you need to know about buying and selling real estate in Mexico, Puerto Vallarta, and the Banderas Bay region

Terms You Need to Know

Mexican Real Estate Definitions

Ejido:  Farming land owned by a legal entity, or group called the Ejido. Collective land that can now be privatized.  Foreigners cannot acquire rights to Ejido property.  Through a proper process, the Ejido can sell to a Mexican individual. The Mexican can then sell to a foreigner.

FM3: Foreign Immigration Visa for Foreigners. Issued for retirement or work purposes to non- Mexicans. Persons with FM3’s can stay within Mexico longer than the tourist visa permits. This document establishes residency and is renewable every year.

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How Mexico Compares to US & Canada

Buying Pre-Construction: Cash vs Mortgage

Thinking of buying a pre-construction condo in Puerto Vallarta or Riviera Nayarit? As Mexico real estate is largely a cash market, here’s what you should know about the financing of new development projects in Mexico as compared to the US and Canada.

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Foreign Owners and Income Property

Paying Rental Taxes in Mexico

The ability to pocket undeclared income in Mexico is going away. Tax changes in 2020 have been announced by the government. The press and social media groups are circulating this important information to the expat community. The problem of foreigners who are renting their homes or condominiums and failing to pay Mexican taxes has existed for a long time. NO LONGER. Not declaring income and paying taxes is a violation of Mexican tax law with severe penalties if discovered.

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Supply, Demand & Consequences

Mexican Real Estate

We need to revisit some basics affecting our Puerto Vallarta real estate market at this time. We need to pay attention to supply and demand. For economic purposes, demand must occur before supply becomes important. However, supply usually comes first. It’s uncommon to demand something we can’t imagine the possibility of what we want to buy.

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