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

BREATHTAKING PENTHOUSE 2BR WITH PRIVATE ROOF CLOSE TO THE BEACH Playa del Carmen ( Quintana Roo, MX - 77710) Under Construction

$562,275 USD

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Details

BREATHTAKING PENTHOUSE 2BR WITH PRIVATE ROOF CLOSE TO THE BEACH

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PLAYA REALTORS

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

Type: Condominium
Style: Apartment
Bedrooms: 2
Bathrooms: 2
Garage: Single
Size: 2,055 sq. ft. "190.99 M2"
Development Level: Under Construction
MLS #: PAP4318636

Description

It has 20 units, including studios, 2-bedroom apartments, distributed over seven levels and a roof top. In addition, it has parking in the basement and first class finishes that enhance the simplicity and warmth with which the spaces are created.

Enjoy the energy of the Riviera Maya and the tranquility of rest, thanks to the privileged location 100 meters from the sea and 10 steps from the famous 5th avenue, it offers spaces designed to enjoy every moment, making your investment an attractive place for rents vacation and / or enjoy with your family and friends thanks to its incredible roof garden with infinity pool and unparalleled ocean views.

AMENITIES
Elevator
Roof garden
Pools and showers
Grill area with dining area
Covered parking.

Location 100 meters from the sea and 10 steps from the famous 5th avenue.

Attachments

View Listing Brochure

Features

Interior Features

Ceiling Fan
Laundry Room

Exterior Finish

Cement
Glass
Marble/Granite

Lot Features

Deck
Garage

Extra Features

Balcony
Central Elevator
Controlled Access
Security Guard on Duty

P2#506548284

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Information is deemed to be correct but not guaranteed.

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