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

GREAT LOCATION | 2BR CONDO IN PLAYA DEL CARMEN Zazil-ha (Playa del Carmen, Quintana Roo, MX - 77720) Under Construction

$166,943 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: 2
Bathrooms: 1
Garage: Single
Size: 560 sq. ft. "52.06 M2"
Development Level: Under Construction
MLS #: PAP4318859

Description

Development that is inspired by the lifestyle and well-being needs of a cosmopolitan and modern society that loves to live near the sea, and that knows how much better it is for the body and mind to enjoy this environment. Architectural designs, artificial intelligence, artistic works and numerous amenities make this an avant-garde project that combines wellness and connectivity.

The units are designed to provide health, well-being, comfort and safety to its residents.

AMENITIES AND FEATURES:

Security, Elevator on each floor, Vacation rental management (optional), Laundry, Property management, Large reception, Concierge, Hydromassage turbines in the pool. Water softening system, High added value area. A 10-minute walk from the new Mayan Train station. Fully equipped gym. 12 meter swim lane. Smart house "Domotics in all units", Fully equipped. Parking lot. Roof terrace with sea view. Sky bar. Grill Bosse audio system. Wifi in common areas. CCTV in common areas. Fitness studio. SpaceZen. Yoga and meditation. Swimming pool. Solarium with loungers. Hydromassage showers and muscle relaxation.

Attachments

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Features

Interior Features

Laundry Room

Exterior Finish

Cement
Glass
Marble/Granite

Roof

Concrete

Lot Features

Deck
Garage
Swimming Pool

Extra Features

Central Elevator
Fitness Center
High Speed Internet Available
Lobby
Security Guard on Duty
TV Security

P2#506663438

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Information is deemed to be correct but not guaranteed.

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