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

PentHouse A Few Steps From Playacar, Super Hot Deal | 2 Bed W/ Option Of a 3rd Bed, Playa Del Carmen Playa del Carmen ( Quintana Roo, MX - 77710) Built

$239,000 USD

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PLAYA REALTORS

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

Type: Residential
Style: Single Story
Bedrooms: 2
Bathrooms: 2
Garage: Single, Attached "Underground Parking"
Size: 1,582 sq. ft. "147 m2 "
Development Level: Built
Suite: Yes
Year Built: 2012 "Just few blocks from best beach in Playacar Phase I"
Taxes: $250.00 USD (2022)
Condo Fees: $3,600.00 MXN
MLS #: PBU37574 AP4218143

Description

Beautiful Penthouse unit available here with private rooftop and Spectacular terrace when you can enjoy a quiet breakfast or beat the afternoon sun.
You can enjoy the rooftop with Jacuzzi (not hot water) view a beautiful outdoor patio furniture.

Apartment Penthouse-Plaza Paraíso 203 is located at 10 Avenida Norte Avenida Aviacion in Playa del Carmen in 839 m from the centre. The most proximate Cozumel International Airport is placed in 19.6 km from the apartment.

Very good investment, money maker through airbnb, perfect vacation home or simply amazing place to live, OWNER MOTIVATED, price negotiable

This property is fully furnished as part of the sale price.

COMPLEX:

• Parking space

• Solarium

• Pool

• Security 24 hs

BEACH PLAYACAR PHASE I NEARBY

APARTMENT:

• 1 KING SIZE BED & 2 DOUBLE BEDS

• FULLY FURNISHED

• FULLY EQUIPPED (ALL LINEN AND TOWELS)

• FLAT SCREEN HDTV

• BBQ

• SAFE BOX

• CEILING FANS

•SKY SATELLITAL

• FULLY EQUIPPED KITCHEN (BLENDER- COFFE MAKER - MICROWAVE - REFRIGERATOR- TOASTER) -

• WATER HEATER

• MINISPLITS AIR CONDITIONING

• OUTDOOR DINING-ROOM