Re: Property interest types

Posted by Larry F. on September 9, 2012, 12:18 pm, in reply to "Re: Property interest types"
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No matter which form of property ownership the foreigner chooses, this creates a dilemna for the local Mexican population. Not so long ago, property in much of Mexico, including La Manzanilla, had little relative value. I understand that one could buy a lot for a old pickup truck. As marketplace forces took hold, property values rose dramatically and have now achieved parity with some areas north of the border. This is good for the locals who "owned" property as they were able to realize a cash bananza beyond their wildest dreams. But for the land poor Mexicans, it simply priced them out of the market, making property ownership a pipe dream. Similar things happen NOB. I lived for many years on a beautiful island on Canada's Pacific coast. Unfortunately, foreign and out-of-province buyers liked it too, and property values soon soared out of reach for locals. My kids, who loved the island, moved away in search of cheaper land. Local realtors and businesses love it. Local businesses and tradespeople here in La Manzanilla likely want to see a healthy real estate market and keep the gringo dollars, as well as urban pesos, rolling in. Making it easier for foreigners to own land here likely will drive up prices more. This will benefit the land owners, but I'm not sure about the rest.

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