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

Playacar Phase 1, Ocean view Playacar Phase 1 (Playa del Carmen, Quintana Roo, MX - 77710) Built

$1,100,000 USD

Great Location, super vacation ROI

Request More Info

Details

Photos Map

PLAYA REALTORS

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

Best 5 Bedroom value in Phase 1
Type: Residential
Style: 3 Story
Bedrooms: 5
Bathrooms: 5
Size: 3,500 sq. ft.
Development Level: Built
Lot Size: 260 sq. m.
Suite: Yes
Year Built: 2002

Description

The wonderful home is in Playacar Phase 1, the most exclusive beachfront community in Playa del Carmen.

This is THE BEST VALUE of a 5 bedroom home in Phase 1, only 3 minute walk to the beach.
Modern, well designed and constructed also a good return on investment for vacation rental income!

The photos speak for themselves, including a rooftop jacuzzi and ocean view!

Contact us for more details.

Attachments

View Listing Brochure

Highlights

THE BEST 5 Bedroom value in the exclusive beachfront community of Playacar Phase 1 with ocean view! Only 3 min. stroll to the beach.

Features

Interior Features

Ceiling Fan
Laundry Room

View

Ocean View

Appliances

Dishwasher
Dryer
Microwave
Outdoor Grill
Oven Range
Refrigerator
Stove
Washer

Cooling

Other

Lot Features

Deck
Trees / Shrubs

Extra Features

Balcony
Cable Available
Controlled Access
Pets Allowed

Brokered and Advertised by : www.CoastalHomesRivieraMaya.com

Listing Agent: Deanna Strong

P2#64397269

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Information is deemed to be correct but not guaranteed.