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

AMAZING 2 BEDROOM APARTMENT IN CANCUN'S BEST LOCATION DOWNTOWN AREA Cancun Centro (Cancun, Quintana Roo, MX - 77504) Under Construction

$329,500 USD

Request More Info

Details

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PLAYA REALTORS

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

Type: Residential
Style: Apartment
Bedrooms: 2
Bathrooms: 2
Size: 1,908 sq. ft. "177.26m2"
Development Level: Under Construction
MLS #: PAP4360381

Description

DEVELOPING:

3 residential towers of 8 floors each, connected to each other by resort-style amenities, located on the 1st floor.
• 84 Departments.
• 2 and 3 bedroom apartments.
• Private parking.
• Guardhouse.
• Private warehouses.
• Service Areas.
• Lobby with controlled access.
• Green areas and common use.

NEARBY POINTS OF INTEREST:

1.- Superama (550m)
2.- Chedraui Selecto (1.1km)
3.- Costco (1.8 km)
4.- Puerto Cancun, downtown commercial (5 km)
5.- Plaza Americas (1.3 km)
6.- Urban Center (600m)
7.- Hospital Hospiten (350m)
8.- Galenia Hospital (500m)
9.- Amerimed Hospital (1.1km)
10.- Puerto Cancun Golf Club (5km)
11.- Cinepolis VIP (1.3km)
12.– Marina Puerto Cancún (5km)
13.- La Gas (1.1km)

DEVELOPING:

Designer residential development avant-garde and modern, inspired by nautical life, with finishes of the highest quality.
Located in one of the most central, safe, comfortable and greater capital gain of the City.

AMENITIES:

Business Room
GYM
Kids club
Events room, deli - mart
Guardhouse, closed circuit
Beauty salon
Pool / sundeck
Swim lane
Poolbar, BBQ Grill & Lounge
Spa (sauna, jacuzzi & massage room)
Private parking
Private wineries

Attachments

View Listing Brochure

Features

Interior Features

Ceiling Fan
Kitchen Island
Tile

Exterior Finish

Concrete
Glass

View

City Lights
Downtown

Cooling

Central Air
Other

Lot Features

Deck
Fenced
Garage
Patio
Swimming Pool

Extra Features

Balcony
Central Elevator
Covered Parking
Fitness Center
Lobby
Pets Allowed
Public Transportation
Security Guard on Duty

P2#515569678

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Information is deemed to be correct but not guaranteed.

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