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How to invest in real estate in Oaxaca being foreigner?
Investing in real state has become one of the best-known ways to achieve financial freedom. This process is carried out by investing capital in one or more properties with the purpose of getting profits.
Global Property Guide holds that Mexico in the year of 2021 ranked in the index of Latin-American countries with the highest growth rate in the value of the properties for sale. The main advantages of investing in real estate in Mexico is that the cost of living is lower than in other countries, according to research carried out in the real estate sector, the cost of living in Mexico can be cheaper compared to the United States and Canada. If your desire is to buy a house in Mexico, you will only need an estimation of 1,300 USD per month to cover the necessary such as entertainment, among others.
While it is true that Mexico is a low-cost place to invest in real estate, especially foreigners, tourism is synonymous with profit. It seems that the growth in the real estate sector has been a sector of weight for foreigners when buying a home, however, there is no unanimous type of home desired by foreigners. According to studies, the trend oscillates between options such as lofts and apartments.
In Mexico there are restricted areas which are territories located less than 100 km from a land border or less than 50km, these kinds of lands cannot be acquired by foreigners. Now, do foreigners pay duties? Well, there are taxes to be paid in the purchase or sale of lands. The selling part must cover the corresponding duties, which in this case are the ISR (Income tax) and the declaration of selling of the property.
There are distinct options of investing in real estate. Silmexico Real Estate Oaxaca is a renowned company in investment and consultancy which allows to develop plans in different periods. So, if you are a foreigner and want to invest, we can advise and offer you excellent real estate opportunities.