Yes! You can own real estate in Mexico.

Through a trust managed by a bank, foreign individuals and corporations are permitted to own property in Mexico. The real estate property must be located within a range of 100 kilometers of the borders of Mexico and within a range of 50 kilometers from coastal areas.

In the arrangement, a Mexican bank (the fiduciary) will have ownership of the real estate property, subject to the direction of the foreign buyer (the beneficiary of the trust). The foreign buyer has the right to use the property, rent the property, sell the property, or in case of death, transfer the property to designated heirs. All proceeds belong to the beneficiary of the trust subject to paying all appropriate taxes.