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 2 Bedroom Apartment in a Paradise | Playa del Carmen Playa del Carmen ( Quintana Roo, MX - 77710) Under Construction

$263,000 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: 861 sq. ft. "80m2"
Development Level: Under Construction
MLS #: PAP4540037

Description

Playa del Carmen is the heart of the Riviera Maya. Its strategic location, within the 120 kilometers of this coastal area of the Mexican Caribbean, makes the destination a gateway for domestic and foreign travelers who are seduced by its beaches, cenotes, adventure parks and exclusive resorts embraced by the jungle or enveloped by the cosmopolitan atmosphere of Quinta Avenida.

Fifth Avenue is the main street of the tourist area of Playa del Carmen. It is approximately 5 kilometers long and starts at Fundadores Park; it is almost entirely pedestrian, although in some sections there is vehicle access. Over the years, it has become the heart and emblem of this tourist destination.

Your next home is just steps away from 5th Avenue.

A 7 level development with 45 exclusive apartments.

LOCATION

This paradise is located in the heart of Playa del Carmen just 250mts from the beach, 3 minutes walking you will find the famous park "Los Fundadores" and 1 minute away you will be in the shopping center.

AMENITIES

- Swimming pool
- Sky Bar
- Yoga Room
- Coworking
- Boutique Café
- Grill area
- Gymnasium
- Elevator
- Pet Friendly

Attachments

View Listing Brochure

Features

Interior Features

Ceiling Fan
Tile

Exterior Finish

Cement
Concrete
Glass

Roof

Concrete

View

Downtown

Cooling

Ceiling Fan
Other

Sewer/Water Systems

Public

Lot Features

Deck
Fenced
Front Porch
Swimming Pool

Extra Features

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

P2#533323827

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Information is deemed to be correct but not guaranteed.