Foreign Ownership of property

[jesm]

While not impacting GTO and other interior locales, the Mexican Congress is moving to amend Article 27 of the Constitution which forbids non-national ownership of property in Mexico within 50 km of the ocean or 100km of national borders. This change is being pushed by the new President and has support among the 3 main political parties. If approved and implemented it will boost foreign investment, jobs and property values. Presently foreigners are allowed to "own" property in these areas but thru a cumbersome and expensive trust mechanism thru major Mexican banks.