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

1 BR APARTMENT WITH OCEAN VIEWS, ELEVATOR, GYM AND + IN PLAYA DEL CARMEN Downtown Playa del Carmen (Playa del Carmen, Quintana Roo, MX - 77710) Built

$191,000 USD

Request More Info

Details

1 BR APARTMENT WITH OCEAN VIEWS, ELEVATOR, GYM AND + IN PLAYA DEL CARMEN

Photos Map

PLAYA REALTORS

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

Type: Condominium
Style: Apartment
Bedrooms: 1
Bathrooms: 1
Size: 232 sq. ft. "70.82m2"
Development Level: Built
MLS #: PAP4323402

Description

HE BEAUTY AND GLAMOUR OF THE CARIBBEAN SEA
Considered one of the most attractive tourist destinations in the world, Playa del Carmen is a piece of paradise located in the heart of the unique Mayan Riviera.

HIGH LEVEL CULINARY SCENE
In Playa del Carmen, there is an extensive variety of culinary options that include authentic Mexican dishes and fusion flavors combined with the best nightlife in the world.

LA QUINTA AVENIDA 5TH AVENUE
Fifth Avenue of Playa de Carmen is one of the most famous streets in Mexico. Full of vibrant culture, restaurants, and boutiques, it is undoubtedly an unforgettable time for all.

MORE THAN AN APPARTMENT
Our apartments include unique
luxury amenities, ensuring a reliable
investment and high profitability,
along with an amazing stay away
from home for all guests.
Controlled and personalized access
to the Lobby
24 hour security
Covered Parking
Elevators
Green areas
Pool with wading pool for children
Sundeck with ocean view
Gym
Bar
Open Jacuzzi
Terraces and hammocks
Fire pit

Attachments

View Listing Brochure

Features

Interior Features

Ceiling Fan
Stone
Tile

Exterior Finish

Concrete
Glass
Wood

Roof

Concrete

View

City Lights
Downtown

Cooling

Ceiling Fan
Other

Lot Features

Deck
Swimming Pool

Extra Features

Balcony
Fitness Center
Lobby

P2#506948273

top

Information is deemed to be correct but not guaranteed.

Find Your Dream Home