Buying Land in Restricted Zone for Foreigners in Hands of the Senate The Yucatan Times
go to original July 14, 2013

The PRI and PAN sections in the Federal Congress are expecting a positive response from the Senate in order to pass the constitutional amendment that will allow foreigners to have ownership of property in the borders and beaches of Mexico in their own name, a situation banned since 1917. According to a report released by The Wall Street Journal, the leaders of PRI and PAN assured they have the votes needed to pass the bill.

On the other hand, the leftist parties are completely opposed to the measure because it involves the sale of sensitive land to foreigners, and they have committed to speak out against it, pointed out the U.S. newspaper.

As reported in The Wall Street Journal, business and housing developers support the measure, because they see in it the possibility to boost the vacation home market in the country and in the national tourism industry.

Read the rest at The Yucatan Times

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