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

OPPORTUNITY! NICE 3 BEDROOM APARTMENT IN PLAYA DEL CARMEN, EXCELLENT LOCATION Downtown (Playa del Carmen, Quintana Roo, MX - 77710) Built

$345,000 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: Residential
Style: Single Story
Bedrooms: 3
Bathrooms: 3
Half Bathrooms: 1
Size: 138 sq. ft.
Development Level: Built
Year Built: 2009
MLS #: PBU20357 AP4957681

Description

Great boutique life style building to enjoy your little paradise in Playa del Carmen. The best condominium building in town. It is easy to access to the beach (Mamitas & Lool beach clubs). The famous quinta avenida with all its restaurants is only a few steps.

This building offers a hugh and amazing pool with pool chairs and great common areas to enjoy the gardens. There is nothing like this building in the downtown area. You also can do your workout at the gym or play pool in the game room. The game room is used as a media center as well. The building has an underground parking area.

Ameneties:
Air Conditioning
Balcony
Elevator
Fitness Center
Grill
Microwave
Oven Refrigerator
Coffee Machine
Stove
Gym
Pool

Attachments

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Features

Interior Features

Ceiling Fan
Guest Quarters

View

Downtown

Appliances

Microwave
Trash Compactor

Cooling

Ceiling Fan

Lot Features

Garden Area
Gated Community
Patio
Swimming Pool

Extra Features

Balcony
Cable Available
Central Elevator
Controlled Access
Covered Parking
Fitness Center
Furnished
Lobby
Pets Allowed (under 20 lbs.)
TV Security

P2#556043495

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Information is deemed to be correct but not guaranteed.