Three weeks ago, my wife and I returned from our first vacation in Mexico and fell in love with the place. We’re now contemplating buying a home or apartment there.
It would be used as a vacation home for three months in a year and rented out the rest.
A couple from India we met at our hotel told us we can’t purchase a home near the sea without getting a local bank (https://rivieramayacozy.com/foreigner-buy-property-tulum/ this seems to be suggesting the same), which sounds complex and a bit fishy. They actually avoided investing because of this.
We thought about buying a home in Tulum or Playa del Carmen since these would provide us with the best occupancy rates during the time we’re not there, but I don’t know anybody who’s done it in the restricted zone or whether it’s safe for foreigners and specifically Aussies. I know it’s a long shot but any thoughts on whether such an investment is a good idea are appreciated.
Any comment is much appreciated,
A.
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