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

LAST PRICE TO SELL NOW USD 199,000 | UNIQUE OPPORTUNITY IN THE MARKET | FIRST SERIOUS BUYER TAKE IT! Playa del Carmen ( Quintana Roo, MX - 77710) Built

SALE PENDING $239,000 USD

Request More Info

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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

This beautiful penthouse is located in a prime location within a shopping center, just steps away from the beach and the famous Fifth Avenue. The surrounding area offers excellent amenities, including a variety of shops and restaurants.

The penthouse itself is a luxurious and spacious space, boasting two fully furnished bedrooms. Each room is thoughtfully designed to provide comfort and privacy to guests. Additionally, the penthouse features an elegant dining area, a fully equipped kitchen, and a cozy living room, offering a comfortable and relaxing life.

One of the standout features of the penthouse is its private terrace, creating an oasis of tranquility and seclusion. The terrace is equipped with a jacuzzi, perfect for enjoying a soothing bubble bath. Furthermore, there is a refreshing pool where guests can take a dip and bask in the sun. Comfortable sun loungers are also provided, making it ideal for spending a sunny afternoon in relaxation.

The property offers convenient parking facilities, ensuring easy access and security for guests arriving with their own vehicle. Furthermore, it benefits from 24/7 security, providing peace of mind and safety.

In summary, this penthouse combines a prime location within a shopping center, close to the beach and Fifth Avenue, with a luxurious and well-equipped interior. The private terrace with a jacuzzi, pool, and sun loungers offers an ideal space to unwind and enjoy the sun. Additionally, the parking and 24/7 security provide convenience and assurance for a luxurious and comfortable vacation in a vibrant and exclusive environment.

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