What an exciting time to purchase real estate in Puerto Peñasco. Prices are steadily rising, additional resorts and communities are being built, and two cruise liners are scheduled to start docking in Puerto Peñasco by 2020. That’s only two years away! Therefore, Puerto Peñasco, also knows as Rocky Point, Mexico, is quickly becoming “the place to buy” in Mexico.
Are you a first-time buyer, or a first-time buyer of real estate in Puerto Peñasco, Mexico? This guide is written to help you understand your options. Here, I’ll reveal the small hurdles you’ll encounter. And, I’ll show you just how easy and safe it is to buy real estate in Mexico.
So let’s get started…
Real estate in Puerto Peñasco (Rocky Point)
What type of real estate can you, a foreigner in Mexico, buy in Rocky Point?
As a foreigner, you may purchase all types of real estate in Puerto Peñasco, Mexico. There are only a few simple requirements to fulfill, which I’ll detail below. Therefore, whether you’re looking for a beach home, a condominium, a piece of land to build on, or commercial property for a business, you may purchase any real estate in Puerto Peñasco that you wish – the sky is the limit.
Rocky Point is a very safe port city in Sonora, Mexico. That being said, you may also consider buying real estate within town, to save money. There are condos, homes, and lots available within the city, for a fraction of the price. And, some of them are very nice, and just walking distance or a short drive from the beach!
Requirements for foreigners buying real estate in Puerto Peñasco
This is the easy part. And, your real-estate agent in Rocky Point will help you through the process. Therefore, don’t be vexed! Your attention should lie in finding the right real estate in Puerto Peñasco that fits all of your needs and desires.
- You’ll need your Passport, from the country that you come from
- You must attain a Mexican Temporary Residency Visa, which is designed for foreigners who intend to stay in the country for more than 180 days
- Since the real estate in Puerto Peñasco is within 50km (31 miles) of the coast, you must purchase a fideicomiso, which is a trust, held by a Mexican bank in your name – more on this below
That’s it! Your real-estate agent in Puerto Peñasco will help you through the entire process.
Mexican Temporary Residency Visa
Foreigners who intend to buy real estate in Mexico must attain their Temporary Residence Visa. Typically, you will be asked to provide documents proving your income and showing that you can support yourself while living in Mexico. Of course, if you’re an investor, or you already own real estate in Mexico, you may already qualify for a Temporary Residency Visa.
The Temporary Resident Visa is designed for foreigners who intend to remain in Mexico for more than 180 days, and up to four years. This visa will only be granted for one year. Then, after the first year, temporary residents may apply for one, two or three years renewal of their temporary resident card.
Your real-estate agent will help you navigate this simple and inexpensive process.
Mexican bank trust – fideicomiso
Article 27 of the Mexican constitution requires that any foreigner buying residential property in the restricted zone (50km from the coastlines and 100km from the border) must acquire the property rights through a Mexican bank trust, known as a fideicomiso. This type of bank trust is good for 50 years. And, it’s renewable thereafter by you or your heirs. The average cost is about $1600 to set it up, and about $600 per year to maintain. Of course, that cost will vary based on the amount of your purchase.
Again, your real-estate agent will help you navigate this process.
Property values are rising
With economies around the world getting stronger, more and more people are purchasing real estate in Puerto Peñasco. The weather is great, and the sunsets on the Sea of Cortez are spectacular. Also, many wonderful businesses have made Rocky Point their home. Along with the many great Mexican businesses like Super Ley, which is like Safeway, and Oxxo, the Circle-K of Mexico, there are some terrific American businesses in Rocky Point. From Little Caesars and Burger King, to Sams Club, you can always get a taste of home while you’re here in Rocky Point.
Rocky Point cruise ship port
Officials from Sonora, Mexico have recently announced that the Mexican federal government has set aside more than $13 million for its 2018 budget to finish the first phase of the Rocky Point cruise ship port. And, completion is scheduled for 2020!
Now, the Rocky Point cruise ship port will become the home port and final destination for Cruise & Maritime Voyages, a British passenger shipping company. They currently travel international routes in Asia, Europe, and America.
The company plans to offer its services in Acapulco, Manzanillo, Puerto Vallarta, Mazatlan, and Cabo San Lucas in 2019. And, by the year 2020, it will expand its cruise routes within the Sea of Cortez. They will travel to the cities of Topolobampo, Guaymas, Santa Rosalia, Loreto, La Paz, and of course, Puerto Peñasco (Rocky Point).
Property values are already going up. And, once the Rocky Point cruise ship port is in place, the sky is the limit!
Rocky Point real estate
Now is the time to invest in real estate in Puerto Peñasco.
Are you ready to take advantage of the steadily-rising real-estate values in Rocky Point, Mexico? Every possible opportunity is here, no matter what your looking for, and Susie Flinn’s Rocky Point Real Estate By the Sea is here to serve you. From beach homes or bare land, to condos on the beach, Rocky Point real estate opportunities abound.
Susie Flinn has been a real estate professional in Rocky Point for over 12 years now, and her clients always come back to her when they’re ready to buy or sell another property. She is simply the best Rocky Point real estate broker in town, and she would love the opportunity to prove it to you.
Please click HERE to read more about Susie Flinn, Rocky Point’s premier real-estate broker.
Message from Susie Flinn
Whether you are buying or selling a home or property, I invite you to contact me as I would be happy to assist you with this important transaction. I can educate you on the Mexican govermental regulations with regard to your purchase or sale. Please come visit me soon, here in Rocky Point. We have the most beautiful sunrises and sunsets overlooking the Sea of Cortez!
Please click HERE to send Susie an inquiry.
Developing my real-estate career with Susie Flinn