Few areas anywhere in the world offer the beauty and value of the western coast of Baja Norte. And Rosarito Beach is the crown jewel of what has become known as Baja California’s Gold Coast. Rosarito Beach real estate is at the heart 60 miles of beautiful Pacific Ocean frontage from Tijuana to Ensenada.
And, Rosarito Beach real estate is booming.
Just a scenic 20 mile drive south of the U.S.-Mexico border (or 35 miles from San Diego’s airport), Rosarito Beach is rich in fine restaurants, art and culture, nightlife, shopping, natural beauty and outdoor activities from fishing to surfing.
It is a place where Mexican history and culture blend with the latest trends, where the old and new California meet. It’s what makes Rosarito Beach real estate especially attractive.
It is easy to see why Baja California is experiencing a building boom. It is fueled by people from the U.S. seeking a second or vacation home and the soon-to-be retiring Baby Boomers. People from warmer parts of Mexico have also been drawn to its near-perfect Mediterranean-like climate and Rosarito residents now include 14,000 international expatriates, most of whom are American.
They are primarily attracted to Rosarito Beach real estate by prices that are a fraction of those is the U.S., available financing and the security of title insurance to protect their investment.
Even though there are more than 50 condominium and home developments currently underway along the Gold Coast, the Rosarito Beach Condo-Hotel, part of the legendary Rosarito Beach Hotel, is the first and one of the few condo-hotels being built on the Gold Coast. It is one of the true landmarks of Rosarito Beach real estate.
The condo-hotel concept provides for worry-free vacation home ownership with the potential for a monthly income stream and it’s one of the big reasons the Rosarito Beach Condo-Hotel is selling fast. People just want to own a piece of the Legend.
to find out more visit Rosarito Beach Condo Hotel.com
Condo-hotels are the newest development in vacation, second-home ownership and retirement destinations.
Owners can use their suites whenever they desire and
have the option of placing their condo in the hotel's
rental program, under a shared-revenue (50%)
agreement.
Owning Real Estate in Mexico
Mexican Legislation
In Mexico there is what is known as the Restricted Zone. The Mexican Constitution prohibits foreigners from direct acquisition of land and waterways within a distance of 100 kilometers from any frontier and 50 kilometers from any coast. Such regions are known as "Restricted Zones". This means that, for example, the entire Baja California peninsula is in this restricted zone. However, given that most foreigners wish property in the coastal areas, in 1993 Mexico liberated ownership provisions of property in the Restricted Zone and passed the Foreign Investment Law.
Outside the Restricted Zone or within Mexico, foreigners can acquire direct ownership and buy any kind of real estate they like. This is as long as they abide by Mexican law and waiver their rights to any foreign government intervention in case of legal conflict.
The Law to Promote Mexican Investment and Regular Foreign Investments
The purpose of the Foreign Investment Law (FIL) is to promote Mexican and foreign investments in Mexico. It was passed with the intention of encouraging fair and balanced development, all the while maintaining the country's economic independence. The FIL specifies the rights and obligations of foreign capital when it comes to investments.
FIL and the Restricted Zone
The FIL specifies that by establishing a bank trust (or a “fideicomiso”) foreigners can obtain the rights of ownership of real estate within the Restricted Zone. This also includes property intended for industrial or tourism purposes.
These rights of ownership means that foreigners can use, improve, rent or even sell their property as though they directly owned the property.
If you’re interested in living in Mexico the first thing you need to find out is where you would like to live. Mexico offers a fantastic variety of living environments. In our Cities section you we find detailed information on many places throughout Mexico. Naturally, you will also need to find a property that suites your needs. Solutions Abroad will soon have its own exclusive on-line directory of properties and developments currently for sale in Mexico. For the moment, you can ask any of our very well-qualified Certified Service Providers for guidance.
Once you have found the perfect place and the ideal property, there are several procedures you need to fulfill in order to successfully own or obtain the rights to that real estate. With accurate information and by hiring the right advisors, you can safely buy real estate in Mexico.
Holding Title
The first thing you need to do is, to make sure that the seller legally owns or holds the title to the property. Likewise, you will also need to check that the owner is actually in the legal position to sell the property. As anywhere, you should not rely on information provided by the seller. Instead you should see the proof for yourself!
The seller must be able to provide a copy of the public deed (“escritura publica”) stating legal title of the property.
He or she must also have a lien certificate (“certificado de libertad de gravamen”) with a legal description of the property. A Mexican lawyer or title insurance company should also be able to check this for you.
