Can foreigners really own property in Mexico?

es! Today, Mexican laws give foreigners the ability to own real estate in Mexico. There is, however, a Restricted Zone that extends 50 km inland from the coastline. Outside the Restricted Zone, a foreigner may acquire land and be direct owners of the property with all the rights of a Mexican national in compliance with Mexican Law. Inside the Restricted Zone, there are two alternatives for foreigners who wish to buy real estate. Since 1973, foreigners have been able to purchase coastal property through a Mexican bank trust, known as a Fideicomiso.

Can I get financing for my real estate purchase in Mexico?

Unfortunately, at this time, there are no financing or mortgage options for foreign buyers in Quintana Roo. This can change at any time and updates will be posted.

What about the availability of title insurance?

Beginning in 1996, Stewart Title Mexico began underwriting title insurance for Mexican properties at an approximate cost of 1% of the insured amount. Other types of insurance, including property, liability, damage, and earthquake, are all readily available in Mexico, at low cost, and policies can be written to pay claims in U.S. dollars.

What can I expect to pay in property taxes?

Property taxes have historically been low in Mexico because they have never been considered a source of governmental revenue. Known as Predial, the tax is calculated as a percentage (currently .25% of the assessed value), determined at the time of sale. Generally speaking, you can expect to pay $100usd per $100,000usd of assessed value yearly.

Who will manage my property when I am not using it?

Choosing the right Property Management company can mean the difference between an excellent appreciating investment and a huge liability. If you are a property owner in search of Property Management, we are happy to be able to refer you to the best, most professional Property Management companies and will gladly arrange a meeting with their teams. The right management company for you will take the time to a construct a cohesive plan that will best serve your particular needs and help you to realize your property's maximum potential and protect your investment.

Why should I consider buying property in Mexico?

The coastal real estate market in Mexico is booming. Mexico's economy, the 9th largest in the world, values and encourages foreign investment dollars and especially tourism; Mexico is a top world-destination for both vacation and retirement among US and Canadian

Impressive Pent-House 3 Bedrooms| High Value Zone | Nuevo Cancun Nuevo Cancun (Cancun, Quintana Roo, MX - 77750) Built

$386,040 USD

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Details

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PLAYA REALTORS

Karina Sayed 984-186-5453 (Office) 855-894-2500 (Cell) Request More Info

Type: Condominium
Style: Apartment
Bedrooms: 3
Bathrooms: 3
Size: 1,385 sq. ft. "128.68m2"
Development Level: Built
MLS #: PAP4593795

Description

THE BEST DESTINATION

Cancun is recognized as the best natural tourist destination in Mexico, Central America and the world. Its beauty makes it a magical place with a unique experience for all your senses, allowing you a wide satisfaction to live in the atmosphere of the Mexican Caribbean.

The area of Nuevo Cancun has been considered as the area with the greatest projection in capital gain and integral growth within the state of Quintana Roo. This new area is distinguished for having exclusive developments and hotels with new concepts such as SHA, one of the medical complexes of Europe with its residences concept.

It is an exclusive development of 12 levels with only 36 apartments, where the majestic landscape of the turquoise beaches of the Riviera Maya stands out.
Ideal for those seeking privacy, comfort and placidity.

LOCATION:

It is located 2 minutes from the new hotel zone in Costa Mujeres, 15 minutes from the first hotel zone of Cancun and 25 minutes from Cancun International Airport.

AMENITIES:

- Reception
- Gymnasium
- Elevator
- Grill area
- Zen garden
- Playground
- Kids pool
- Family pool
- Wet lounge area
- Dressing rooms
- Shower area
- Parking for cars
- Motorcycle parking

Attachments

View Listing Brochure

Features

Interior Features

Ceiling Fan
Tile

Exterior Finish

Cement
Concrete
Glass

Roof

Concrete

View

Downtown

Cooling

Ceiling Fan
Other

Sewer/Water Systems

Public

Lot Features

Deck
Fenced
Garage
Garden Area
Patio
Swimming Pool

Extra Features

Balcony
Central Elevator
Controlled Access
Fitness Center
Reserved Parking
Security Guard on Duty

P2#537803260

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Information is deemed to be correct but not guaranteed.