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

Immerse Yourself in the Magic of Puerto Morelos | 2 Bedrooms Puerto Morelos ( Quintana Roo, MX - 77580) Built

$181,368 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: Residential
Style: Single Story
Bedrooms: 2
Bathrooms: 2
Size: 1,292 sq. ft. "120.00 m²"
Development Level: Built
MLS #: PAP5175239

Description

Puerto Morelos, a charming destination in the heart of Quintana Roo, enchants its visitors and residents with a warm atmosphere and vibrant ambiance.

Living in Puerto Morelos allows you to enjoy its excellent environmental management, stroll along the boardwalk, and step by step discover the magic that hides in every corner. Its fantastic location invites you to explore cozy spaces in a traffic-free and noise-free environment. Puerto Morelos will be the home of Vanguardia, a project that embraces this emerging destination and provides its residents with a second breath in the Caribbean.

AMENITIES
- Lobby
- Controlled access
- 24/7 security
- Multipurpose room
- Pool bar
- Visitor parking

CENTRAL PARK
- Bike path
- Jogging track
- Yoga garden
- Open-air theater
- Sports bar
- Skate park
- Pet zone
- Kids playground
- Fountain + Trail

SPORT CENTER
- Padel courts
- 7-a-side football field
- Tennis court
- Semi-Olympic swimming pool
- Wellness center
- Snack bar

P2#568545938

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Information is deemed to be correct but not guaranteed.