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

Worry-Free Condo-Hotel 2 Br Apartment Justa Few Minutes From The Beach - PLAYA DEL CARMEN COCO BEACH Downtown Playa del Carmen (Playa del Carmen, Quintana Roo, MX - 77720) Built

$320,000 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: Condominium
Style: Apartment
Bedrooms: 2
Bathrooms: 2
Size: 1,173 sq. ft. "109m2"
Development Level: Built
MLS #: PAP4416618

Description

THIS NEW PROJECT IS LOCATED IN THE CITY OF PLAYA DEL CARMEN ON 40TH STREET AND COZUMEL AVENUE IN THE EXCLUSIVE AREA OF COCO BEACH, JUST ONE BLOCK AWAY FROM THE SEA. QUIET AND RESIDENTIAL AREA WITH MODERN AND EXCLUSIVE BUILDINGS THAT ALSO HAS PUBLIC SAFETY.
THE BUILDING FEATURES 5 LEVELS + ROOF POOL.

FEATURES 22 LUXURY APARTMENTS, 1 OR 2 BEDROOMS: 4 CONDOS ON EACH LEVEL.

DELUXE 2 BEDROOM SUITE - 2 BEDROOM, 2 BATH - MASTER SUITE: 1 KING BED - SECOND BEDROOM: 1 QUEEN BED - CELING FANS - AC - SAFE BOX - BLACK OUT CURTAINS - IRON/IRONING BOARD (UPON REQUEST) - HOUSEKEEPING SERVICE (CONFIRMED AT RESERVATION) - FREE WIRELESS IN THE CONDO - 109 M2 OF LUXURIOUS LIVING SPACE. - MARBLE FLOORS, - AIR CONDITIONING, - FULL KITCHEN: REFRIGERATOR, MICROWAVE, COFFEE MAKER, BLENDER, KITCHEN APPLIANCES. - WASHER, TV, DVD VIDEO LIBRARY AND CD PLAYER. FOR YOUR CONVENIENCE MAID SERVICE, BOTTLED WATER DELIVERY, WIRELESS INTERNET.

BUILDING AMENITIES - STEPS FROM THE BEACH - BEACH CLUB & RESTAURANT NEARBY - ROOFTOP POOL & BEAUTIFUL AMENITIES WITH OCEAN VIEW - SOLARIUM - SECURITY
Personal concierge services are also available.

WE CREATE EXPERIENCES FOR YOU.

Attachments

View Listing Brochure

Features

Interior Features

Ceiling Fan
Tile

Exterior Finish

Concrete
Glass

View

City Lights
Ocean View

Cooling

Ceiling Fan

Sewer/Water Systems

Public

Lot Features

Deck
Fenced
Patio
Swimming Pool

Extra Features

Balcony
Controlled Access
Furnished
Lobby
Security Guard on Duty

P2#520265068

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Information is deemed to be correct but not guaranteed.