While it is a little known fact, about one hundred and sixty years ago the US paid some $15 million for almost one third of Mexico (an area which now houses California, Nevada, Utah, Arizona and Texas), the US population are making more orthodox purchases in the country.  As housing prices soar across the States, many US citizens have ventured south buying up many of the coastal properties on offer - with prices any where up to $1 million. 

There are many similarities between the US property purchase procedure and the Mexican equivalent, although all buyers must be aware that the Mexican property sector is not regulated, therefore it is essential that you take local advice to ensure you appoint the best available.  There are basically four additional parties involved in a property transaction in Mexico, who include an Estate Agent, Buyer’s Lawyer, a Bank and a Public Notary. 

It will come as no surprise to those who have even looked at Mexico, that the country is heavily swayed by what is going on in the US property market. That particular market is showing signs of slowdown, and a similar scenario can be expected with the Mexican market in due course.  However, because there is more “value” in Mexico when comparing property prices, any fall should be fairly limited and fairly short lived.