Do Ampi offices use Profeco? Yes! We have been required to do so by law since 2022.
For the past 10 years, we have been in a market providing resale properties and new construction projects. Our offices and agents in the three Ampi chapters in the Bay of Banderas use the...
The preconstruction of condos in this market has been the largest and most active building industry for over 10 years. The unexpected popularity of condo preconstruction has brought thousands of new units on the market in Jalisco and Nayarit.
This popularity has been possible because seller financing has been given...
Condominium Sale Highlights
Our 2024 market is not off much. Emiliano Zapata, or Romantica Zone, has sold the most condos in the Bay (from reporting agencies). Sales volume is over 54,000,000 USD with a slight drop in average price to 510,000 USD per.
The second is Ocean Side Community in Nayarit....
Mexico welcomes foreign investment in its real estate market. There are no restrictions on foreigners owning and investing in property here. To uphold the constitution of the country, foreigners will need to become primary beneficiaries within a trust held by a Mexican bank.
The Mexican Constitution prohibits foreign nationals from...
I have covered income taxes and strategies to reduce costs within the allowed guidelines in recent articles. We have a few options to minimize capital gains based on resident and tax status for foreigners with property in Mexico.
Honestly, this is a difficult subject for most foreigners to understand, even...
In response to the economic crisis of 1994 (Tequila Crisis), with rampant debt and high inflation, the Bank of Mexico introduced the UDI in 1995.
My interest in UDIs (Unidad de Inversión or Investment Unit) came up when I searched for more information to explain to clients planning to sell...
It took a long time for Canada and the USA to share credit histories with their North American partner, Mexico. American banks have come into Mexico previously trying to build market share by offering mortgages.
This is not a simple thing when the mortgage must be inside a foreigner's trust....
The opportunity for foreigners to enjoy the beautiful ocean and beaches in Mexico allowed this country to benefit in a big way. In the 1970s and 80s, Mexican leaders were looking to acquire more foreign direct investment to pay for infrastructure and economic development in the country.
One way...
In a nutshell, as of June 16, 2024, MLS Flex shows reported sales that we are down 30% in units sold from 2023, down in sales volume by 16 %. The average sales price per condo is up by 20%.
These are not bad numbers for the year so...
Use an attorney. Not all agents are educated or experienced enough to take the place of an attorney for you. I recommend one who is bilingual and bi-cultural. A client needs to be told what is happening here and how it is different from what he is expecting. Many...
