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

Condominium 302 + amenities, Residential in Cancun Cancun ( Quintana Roo, MX - 77610) Built

$253,163 USD

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Details

Condominium 302 + amenities, Residential in Cancun

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PLAYA REALTORS

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

Type: Residential
Style: Single Story
Bedrooms: 2
Bathrooms: 2
Size: 1,733 sq. ft. "161 m2"
Development Level: Built
Year Built: 2018
MLS #: PPH4267361

Description

It is a development located on Blvd. Luis Donaldo Colosio km. 7.5 within the Fraccionamiento Cumbres, in the city of Cancún Q. Roo.

It also has the benefit of having entrance and exit accesses in the 2 main avenues that are Av. Luis Donaldo Colosio and Av. Huayacán, as well
as surveillance at both entrances of the residential and restricted access to Altura, with closed circuit 24/7.

We have spaces that offer comfort, spaciousness, natural light, cross ventilation and energy savings by having LED lighting.

AMENITIES
security booth
Covered parking
GYM
toy library
palapas
Pet Park
Pool with wading pool
large gardens
sundecks
Bathrooms in common area
business center
swim lane

Attachments

View Listing Brochure

Features

Roof

Built Up

Cooling

Ceiling Fan
Zoned

Lot Features

Garden Area
Gated Community
Landscaped
Playground
Swimming Pool

Extra Features

Controlled Access
Fitness Center
Reserved Parking
Satellite Dish
Security Guard on Duty
TV Security

P2#501891757

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Information is deemed to be correct but not guaranteed.

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