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

WHAT YOU ARE LOOKING FOR IN SECURITY AND LUXURY | AMAZING 1BR APARTMENT WITH TERRACE | PUERTO CANCUN puerto cancun (Cancun Hotel Zone, Quintana Roo, MX - 77500) Under Construction

$578,454 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: 1
Bathrooms: 2
Size: 1,379 sq. ft. "128.11m2"
Development Level: Under Construction
MLS #: PAP4781535

Description

LOCATION

It is located in the heart of Puerto Cancun, which is a tourist residence complex, with beach, marina, golf course and shopping center, with direct access to downtown and Cancun's hotel zone, just 20 minutes from the international airport.

It is an exclusive nautical residential development in Puerto Cancun, it is a 40,700 m2 lot surrounded by water with spectacular ocean and marina views.

You will enjoy the best and most complete amenities for the lover of life with endless adventures.

AMENITIES

Every minute you will have at your disposal diverse activities to live endless adventures in a safe and comfortable space.

ENTERTAINMENT ISLAND

Projection room
Business center
Multipurpose room
Lounge lounge
Gym
Spa with sauna and whirlpool bathtub
Concierge service

KIDS ISLAND

Splash pool
Sandbox
Outdoor playground
Furnished playroom
AMENITIES
3 infinity pools
Swimming lane
Tennis and paddle tennis courts
Jogging track (700 mts)
Pool bar
Palapa with snack bar
Kayak storage
Pet area

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
Swimming Pool

Extra Features

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

P2#546743427

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Information is deemed to be correct but not guaranteed.