Mexico is among the top 20 countries chosen by foreigners to retire, improve their quality of life or enjoy the weather conditions that the territory offers. They are characterized by being over 55 years old, 62% are retired and 15% have children. The arrival of foreigners to Mexico has been a driving force for real estate development since they tend to live in houses located in residential subdivisions.
For a foreigner to purchase a property in the country, he/she must enter into an agreement, known as the Calvo Clause, with the Federal Government through the Ministry of Foreign Affairs (SRE), which stipulates that he/she may purchase real estate within a range of 100 kilometers from the border and 50 kilometers from the coasts of the country.
What are the favorite cities for foreigners in Mexico?
The last Intercensal Survey of the National Institute of Statistics and Geography (Inegi) showed that the city of Tijuana, Baja California, is the one that concentrates the highest number of foreigners, mostly Americans. Also located in Baja California, it is another city chosen by foreigners to live - Mexicali. Another city chosen by Americans, Guatemalans, Spaniards, and Argentines is Juarez, Chihuahua. The State of Mexico and Mexico City is home to tens of thousands of foreigners.