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

THE BEST INVESTMENT : INCREDIBLE 4BR APARTMENT : OCEANFRONT : LUXURY AMENITIES : YUCATAN Nuevo Yucatan (Merida, Yucatan, MX - 97000) Under Construction

$1,028,498 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: 4
Bathrooms: 5
Size: 4,728 sq. ft. "439.29M2"
Development Level: Under Construction
MLS #: PAP5267099

Description

YUCATAN AND ITS HIDDEN MAGIC

Merida is the most important distribution center for cultural tourism in the Yucatan Peninsula, with more than 5,000 hotel rooms of all categories, congress and exhibition centers, more than 300 restaurants of all types and an extensive offer of cultural and tourist attractions.

LIFE IN CALM

It is a 7-story tower:

- 90 apartments with ocean view in front of the beach.
- Direct access to the beach.
- Functionality from 3 to 6 bedrooms.
- From 230 to 750m2.

LOCATION.

- 1Hr from Merida airport.
- 1 Hr from Centro.
- 20 minutes from Progreso.
- 6 minutes from Laguna Rosada.

AMENITIES.

- JACUZZI
- VOLLEYBALL COURT
- ALBERCA
- PADDLE TENNIS COURT
- KIDS POOL
- BAR
- RESTAURANT
- GYM
- PET FRIENDLY
- ELEVATORS
- BUSINESS CENTER
- LOBBY

Attachments

View Listing Brochure

Features

Interior Features

Ceiling Fan
Tile

Exterior Finish

Cement
Concrete
Glass

Roof

Concrete

View

Downtown
Ocean View

Cooling

Ceiling Fan
Other

Sewer/Water Systems

Public

Lot Features

Clubhouse
Fenced
Garage
Garden Area
Gated Community
Playground
Swimming Pool

Extra Features

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

P2#571783149

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Information is deemed to be correct but not guaranteed.