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Increasing number of foreign residences in Sisal, Yucatan

A unique strip on the coast of Sisal, with the potential for real estate developments, is for sale on the international market with excellent results among retired foreigners who are attracted by the tranquility that exists in Yucatan, as well as the certainty for doing business.  

The land goes anywhere from $40,000 dollars for lots and up to $3,900,000 dollars for 18 hectares, ideal for construction of a tourist development, all located in a privileged area northwest of what was once the gateway to Yucatan by sea until the 19th century.

There are also 800 m2 lots available on the beach for $59,700 dollars, located in the same northeast area of Sisal, where Canadians, Europeans and Americans are increasingly investing.

Martin Martinez Garzon, representative for the Transcaribbeantrust real estate agency, believes that the Yucatan coastline is of interest to foreigners because, for all practical purposes, it is still virgin area; as such, they are only in touch with nature and there are no shops nearby. The foreigner, he stressed, seeks exclusivity.

The principal buyers are either retired or older adults who see a good opportunity for investing, for building their beach house and spending quality time with their families, and even if they are considering it for a business, it is still attractive  because of the appreciation value of the land.

Another reason why sales on the Sisal coastline have a good rate of success is because the land is more accessible than in Cancún and because buyers prefer having a greater sense of peace and quiet, something which the latter city has lost.

The security and safe conditions that prevail in Yucatán are definitely a determining factor in the sale of the land as the buyer invests his savings in what, over the long term, will be his home.

Relative to the legal certainty of the land, there are no problems as such and, if the client so desires, he can contract the services of any notary public to handle paperwork and thus be certain of having made a good investment.

"The regulations for land acquisition by foreigners are another relevant aspect, which is perfectly stipulated," indicated Martinez Garzón.

He added that environmental care should also abide by the Mexican standards, considering the filtration system based on bio-digesters (septic tanks) in order to avoid sub-soil contamination.

The fact that the Sisal coast borders the Caribbean Sea, with its extensive white-sand beach, and that behind it exists the ria, a protected sanctuary where flocks of flamingos come to have their offspring each year, is yet another attraction for buyers.

Any foreigner can obtain ownership of property in Mexico; he only needs to obtain a permit from the Office of Foreign Affairs.

However, under Mexican law foreigners cannot own property outright in the restricted zone, established as such in the Federal Constitution of Mexico, and which encompasses all land 100 kilometers wide along the Mexican borders and 50 kilometers wide along the Mexican coast.

Foreigners may not acquire rights to and ownership of real property located within said restricted zone. However, they can retain ownership of such property through a long-term bank trust (fideicomiso) or by creating a Mexican corporation.

Source: www.sipse.com

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