More Americans and Canadians are investing in San Felipe, Baja real estate for vacation homes and retirement, according to Latin America real estate Web site.
San Filipe, Mexico (PRWEB) March 28, 2008 — With new developments in the works and many more for sale right now, San Filipe, Baja real estate is becoming a popular option for Americans and Canadians. LatinAmericanHomeInvestment.com, a leading real estate site for people interested in Latin America real estate, is seeing more and more people requesting information about homes and condos in this area. This is becoming one of the popular places to retire in Mexico, and one of the more popular places to visit.
San Filipe real estate is found about 350 miles southeast of Los Angeles at the beginning of the northern Sea of Cortez. The population is at 19,263, according to the sign that greets visitors to this sleepy Baja town. Even though there is no airport nearby, 250,000 visitors come from as close as California and as far away as Canada visit here year-round. Many people are looking into places to retire in Mexico as well, and there’s a steady increase in the number of people requesting information about San Filipe, according to LatinAmericanHomeInvestment.com.
The team at Latin American Home Investment wants people to know that buying San Felipe, Baja real estate is different from purchasing homes in the United States and Canada, though. Land rights to all real estate in the restricted zone (100 km. along all borders, 50 km. along all coastlines, all of Baja California) can only be legally vested and recorded in one of two ways. The first is through a Mexican bank trust for all residentially zoned property. The second is through a Mexican corporation for all non-residential real estate. There is no variation in options concerning foreign acquisition in the restricted zone of Mexico.
There are a number of condos for sale in San Felipe, and a couple of unfinished projects are going to reach a high as five stories, though most of them do not reach higher than two stories. This has become a popular place to invest in Latin America real estate, and one of the most popular places to retire in Mexico largely because it has kept its rustic appeal. It is vastly different from some of the other real estate and hot spots in Mexico, such as Acapulco and Cabo San Lucas, because it is off the beaten path.