The Ensenada Real Estate boom is here. Oceanfront condos and luxury homes are popping out in Ensenada.
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Along its two coasts, one facing the Pacific Ocean, and the other facing the Sea of Cortez, and inland, there are several upcoming developments within the Municipality of Ensenada. This vast region is becoming irresistible property market.
I am NOT an Ensenada real estate professional, but after living in this area for more than 20 years I got some general idea of why the Ensenada realty boom is happening.
Common Sense Real Estate
Whether you are considering to buy or rent property in Ensenada such as condo, home, villa, apartment or land, take into account the following:
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Real estate information: How to hold Ensenada property by a foreign individual.
1.- Mexican Bank Trust.
You may own property within the Restricted Zone or Prohibited Zone, through a fiduciary trust with help of a Bank Trust.
2.- Land Lease.
Since a land lease for a period of more than 10 years is illegal, it is advisable to limit it to 9 years and 11 months and get a new 9-11 period at its end, and so on...
3.- Federal Zone.
You may use Federal Zone land –which covers 20 meters from the highest tide line- only under a concession granted by the Federal Government.
Concessions are temporary and renewable.
Fees vary accordingly with the size of the federal zone used and other minor factors.
The above information is deemed to be correct but NOT guaranteed and should NOT be considered legal advice. Get legal advice ONLY from a professional.
Have a successful Ensenada real estate hunting!