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Yes, you can! To own a property in the Restricted Zone a trust or 'Fideicomiso' can be set up, with the foreigner as the beneficiary. Another way to own a property in the restricted Zone is by creating a Mexican Corporation.

The federal zone is an area on the beach which is owned by the federal government. No private ownership is recognized in this zone. Since it is owned by the federal government, you may not build your house within this area. The Federal Zone extends 66 feet (20 meters) back from the high tide mark of an ocean or sea. On inland bodies of water, such as lakes and rivers, the federal zone extends 33 feet (10 meters) from the high water mark. The federal zone is uniform throughout all 32 states in Mexico.

The beach concession is a government-granted permit. This permit enables an owner of property adjacent to the federal zone to use that zone. For example, the owner may construct a boat dock, patio, deck, or gazebo. It does not permit the property owner to construct any part of his house within the federal zone. To keep a beach concession, an annual fee must be paid.