Buying property in Mexico: Guide for UK buyers

Owning property in Mexico has always appealed to expats - from sandy beaches and welcoming locals to delicious food and the promise of plentiful sunshine, there’s little not to love about the North American destination.

While foreigners may not always have the easiest time buying property abroad, it is the norm to own in Mexico. In 2022 about two thirds of all Mexican homes were owner occupied.¹ And while there are some hoops to jump through, in most places buying property is straightforward.

This guide will walk you through everything you need to know about buying property in Mexico as a UK expat or investor. This includes steps to purchase a home, info on fees and costs, and the pitfalls to avoid.

And if you’re looking for ways to save money on currency exchange when buying property in Mexico, check out the money services provider Wise. You can send large transfers with Wise for low fees* and mid-market exchange rates - making it ideal if you’re sending a secure international transfer.

Jump to

What’s the property market like in Mexico? Can foreigners buy property in Mexico? What’s the approximate cost of different properties in Mexico? How can I find a property in Mexico? Property agencies and agents Avoiding scams Property websites in Mexico How do I choose the right property? Property types Condition of the property What are the steps to buying a property as a foreigner? What are the legal requirements to buying a property in Mexico? How do I get a bank loan/mortgage? What kind of taxes and fees will I need to pay?

What’s the property market like in Mexico?

Despite an uncertain global economy, the property market in Mexico is strong and on the rise driven by demand from both domestic and international buyers.

Residential prices are up 8.71% year-over-year and steady appreciation makes it a good time to invest.² It’s a seller’s market, meaning home prices may be a little high - but so are the values.

Can foreigners buy property in Mexico?

Yes - but with some restrictions. Mexican citizens can buy land without any real barriers, but foreigners face some geographic barriers that can restrict them from buying in the most desirable areas.

If you’re intending to buy residential property that’s 31 miles or closer to the coastline or 62 miles from a border you will need to do so via a trust (fideicomiso) through a Mexican bank, which then holds the property title for you.³ These can be created and used, but it’s often a long process.

Foreigners are typically encouraged to work with a notary and a lawyer to navigate the purchase. But, if you’re buying outside of these areas, you can own property directly and follow the same process as Mexican citizens.

What’s the approximate cost of different properties in Mexico?

Prices vary from place to place - beachfront properties or properties in major cities can be more expensive than those found in smaller inland towns.

The table below will give you an idea of some average property prices around Mexico.⁴

Location	Property Type	Cost per square metre
Mexico City	City centre apartment	65,932.89 MXN
Mexico City	Apartment outside city centre	45,679.05 MXN
Guadalajara	City centre apartment	50,166.67 MXN
Guadalajara	Apartment outside city centre	43,666.67 MXN
Puerto Vallarta	City centre apartment	69,409.78 MXN
Puerto Vallarta	Apartment outside city centre	36,649.32 MXN
Monterrey	City centre apartment	57,415.75 MXN
Monterrey	Apartment outside city centre	69,041.67 MXN
Tulum	City centre apartment	57,500.00 MXN
Tulum	Apartment outside city centre	32,500.00 MXN

How can I find a property in Mexico?

Property agencies and agents

It’s a good idea to engage a real estate agent if you’re planning to buy property in Mexico. Online listings are growing in popularity and can be a useful place to start, but realtors will be able to guide you and help you find more properties in your desired area.

Luckily, realtor fees in Mexico aren’t too high to start with, and it’s common to negotiate them down before you get started.

Avoiding scams

New scams are being tried every day, and it can feel like it’s impossible to protect yourself when you set out to buy a home.

However, remembering the following principles will go a long way towards making sure you and your investment remain safe throughout the process.

• Get a referral. Real estate agents in Mexico aren't required to be licensed or trained, and can act independently of an agency. This means there’s no real way to make sure you’re getting an agent who has your best interest in mind without getting a referral from a friend or family member. If you can, using your network to find a trusted agent is always a good idea.
• Know the market. You may find that, as a foreigner, the prices of the homes you’re looking at seem to rise out of nowhere. If you’re not aware of what prices around you should be, you could get taken for a lot more money than your property is worth.
• Meet the seller. Working through an agent is fine, but it’s important to meet and talk to the seller so you know they're in fact selling their property, and they have the right to sell that property.
• Get an inspection. Many homes in Mexico are on the newer side and won’t have many problems, but it’s still a good idea to have your new property checked for things like pests and mould, which can crop up pretty swiftly in the warm climate.
• Never mail money. If the seller isn’t willing to make transactions face-to-face, it’s probably a good idea to walk away.
• Trust your gut. If something seems off to you, it probably is. Trust your instincts, and don’t go through with a purchase you’re not sure about.

Property websites in Mexico

There are now quite a few local and regional online property listings covering the Mexican real estate market. Using the web to get a feel for locations, home styles and prices is a good idea. The following sites are great places to get started in your search:

• Realtor.com
• Inmuebles24.com
• Viviun

How do I choose the right property?

Property types

Depending on where you choose to buy, what type of property you can get will vary.

In the major cities, look for apartments and townhouses - you’ll struggle to find land or freestanding homes.

By the beach, however, keep an eye out for larger villas, land parcels and plenty of apartments, many of which are in residential hotels.

Condition of the property

Although building regulations are improving in Mexico, many older homes were built before such standards came into existence, and so property conditions can vary.

If you’re buying a prefabricated home, you’ll want to hire a surveyor to do a thorough inspection before you settle on your new place.

What are the steps to buying a property as a foreigner?

The steps for buying a home in Mexico are pretty simple, even if you’re choosing to buy in the restricted zone. While they vary from transaction to transaction, the process should be something like the following:

1. Investigate a mortgage or, if you’re in the restricted zone, a bank trust (or fideicomiso)
2. Engage a real estate agent
3. Find your property and make an offer
4. Have a sale contract written by a notary
5. Finalise your fideicomiso or mortgage with the bank.
6. Sign the contract
7. Pay the final balance and any taxes due.

What are the legal requirements to buying a property in Mexico?

Buying property in Mexico will require you to engage a notary to draw up a sale contract, but otherwise the legal requirements are pretty thin.

You’ll want to:

• Look into how you will hold the title. If it’s in the restricted zone, the title will be held by a Mexican bank in the form of a fideicomiso. If you’re outside of the restricted zone, you’ll hold the title in your own name.
• Have all of your contracts drawn up in English, or use a translator to do so. Good firms will take care of this for you.
• Thoroughly read your regimen de condominio, which outlines owners rights and restrictions, as well as obligations.

How do I get a bank loan/mortgage?

To get a mortgage, you can go to any major Mexican bank or a bank in your home country. You don't need to be a Mexican resident or even have a visa to buy property in Mexico.⁵

If you need a fideicomiso to make your purchase, you’ll also find a wealth of options. Many of the larger international banks that work in Mexico will help you get a trust, as will local Mexican banks like Banorte.

If you’re planning to pay your down payment from a foreign bank account, you’ll want to keep an eye on the exchange rate and associated fees from your bank to make sure you’re not going way over budget.

If you want to protect yourself from high fees and bad or inflated exchange calculations, a cost-effective option is the Wise account, with which you can send money between the UK and Mexico for low fees* and mid-market exchange rates.

What kind of taxes and fees will I need to pay?

Unfortunately, it can be a little hard to pin down exactly what level of fees you’ll pay due to looser regulations, but some to consider are outlined in the following table:⁶

Cost type	Fee	Notes
Acquisition Tax	Between 2% to 4.5% of purchase price	Varies by state and municipality
Notary and registration fees	1% to 2% of purchase price	Includes deed preparation and registry
Agent/Agency fees	Variable	These vary but can be negotiated
Title insurance	0.5% to 1% of purchase price	Optional
Fideicomiso setup	Between 36,880 MXN - 92,200 MXN initial setup	Only needed in the restricted zone
Annual Property Tax (Predial tax)	0.05% to 1.5% of assessed value	Ongoing annual cost

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And that’s it - our guide to buying property in Mexico for foreigners.

We’ve covered all the important stuff, from property prices, fees and taxes through to mortgages, how to start your search and how the buying process works.

And, if you want to save money while buying your new property in Mexico, make sure to use the Wise account to send your international transfer. It’s not a bank account and offers customers an alternative option to a conventional bank account, but has similar features.

Here are the main benefits for using Wise:
Fast and easy setup with no physical paperwork Low, upfront, transparent fees* Fully trackable transfers Fast transfer times Two-factor authentication and real-time notifications Dedicated support for large transfers

Sign up with Wise today 💰

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Sources used for this article:

1. Statista - Distribution of homes in Mexico in 2022, by housing tenure
2. The Latin Investor - Is 2025 a good time to buy real estate in Mexico?
3. Mexico Relocation Guide - Can foreigners own property in Mexico? Rules, restrictions and key facts
4. Numbeo - Property prices in Mexico
5. Properstar - Do you need residency to buy property in Mexico?
6. The Latin Investor - Mexico: the property buying guide (updated Sept 2025)

Sources checked on 14-Sep-2025.