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

Corto Maltes Playa del Carmen ( Quintana Roo, MX - 77710) Built

$580,000 USD

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PLAYA REALTORS

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

Type: Condominium
Style: Apartment
Bedrooms: 3
Bathrooms: 2
Garage: Single, Detached
Size: 2,325 sq. ft. "1603 Sf + 285 sf balcony + 437 sf solarium with bathroom"
Development Level: Built
Lot Type: Rectangular
Lot Size: 150m x 27m
Suite: Yes
Taxes: $700.00 USD (2020)
Condo Fees: $325.00 USD

Description

The brand new oceanfront in the middle of the Playa del Carmen action property is the newest luxury condo complex in town.

Conveniently located right in the heart of Playa del Carmen, just a few steps away from the internationally recognized 5th Avenue shopping, dining, and nightlife district, and directly on the exceptional aqua blue Caribbean Sea and white sand Corto Maltes is the place to stay in Playa del Carmen.

This apartment is the only one of 3 bedrooms in the Corto Maltes building.

Fully furnished and equipped. Ideal even if you want to invest or enjoy this magic place. -

3 bedrooms. Up to 9 guests
1 KING SIZE BED 2 TWIN SIZE BEDS 2 DOUBLE BEDS 1 SOFA BED - 1 sofa/bed for 2 guests. - 2 bathrooms
- Fully equipped kitchen with granite counter tops, stove, oven, dishwasher, microwave, blender, coffee maker, toaster and water dispenser ...
- Washer and dryer
- Plasma Television
- Safe - CD / DVD - MP3 - Alarm
- Iron and ironing board
- TV Cable / Satellite
- Wireless Internet
- A / C on each room
- Balcony
- Lift
- Wheelchair access

3 recámaras, 2 bños, cocina completa, espacio de cochera, bodega.
Todo renovado y reamueblado en 2019 con aparatos y equipos nuevos (refrigerador y horno, + climas a.ac.)
Area interior cubierta: 148.91 m2
Area externa cubierta (1 terrazas +1 balcón): 26.45 m2
Solarium con baño en azotea: 40.66 m2

Condo fees: MXP$ 7,712/ mes =aprox. US$325/mes