Congress resumes its regular session next month and real estate developers are hopeful that constitutional restriction barring foreign ownership of coastal property will be revised. At present, only citizens can purchase real estate along the shore. Arrangements can be made for acquisitions through bank trust funds but this adds to costs and discourages some potential customers. Changes in current rules have been proposed and, if approved, could touch off a boom in the building of retirement homes for foreigners.
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Jimm Budd
Reporting From Mexico City
Member of the Society of American Travel Writers
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