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

Magic Paradise 3 Bedroom PH with Private Pool In Playa Del Carmen Downtown Playa del Carmen (Playa del Carmen, Quintana Roo, MX - 77710) Built

$445,000 USD

Request More Info

Details

Photos Map

PLAYA REALTORS

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

Type: Condominium
Style: Apartment
Bedrooms: 3
Bathrooms: 4
Size: 2,247 sq. ft. "208.72"
Development Level: Built
MLS #: PAP4516361

Description

This property is 2 minutes walk from the beach.

MAGIC, 3 Bedroom PH & Private Pool is located in Playa del Carmen, has a private pool, sea views and balcony.

It is 200 meters from the beach of Playa del Carmen and has an ATM.

The apartment has 3 bedrooms, satellite TV, washing machine, 3 bathrooms with shower and kitchen equipped with dishwasher and microwave.

The apartment has an outdoor pool.

Near the MAGIC, 3 Bedroom PH & Private Pool there are several places of interest, such as Kool Beach Club, Guadalupe Church and Quinta Alegria shopping center. Cozumel International Airport is the nearest airport and is 35 km away.

Attachments

View Listing Brochure

Features

Interior Features

Ceiling Fan
Kitchen Island
Laundry Room
Tile

Exterior Finish

Concrete
Glass

Roof

Concrete

View

Downtown

Cooling

Ceiling Fan
Other

Sewer/Water Systems

Public

Lot Features

Deck
Fenced
Swimming Pool

Extra Features

Balcony
Central Elevator
Controlled Access
Fitness Center
Lobby
Security Guard on Duty

P2#530732663

top

Information is deemed to be correct but not guaranteed.