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

Playa del Carmen Properties For Sale We are here for You and All your Real Estate Needs

Beach Front and Ocean View Properties in Playa del Carmen

Magic Paradise Centro ( Quintana Roo, MX - 77710) Built

$499,000 USD

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PLAYA REALTORS

Karina Sayed +(52) 9841865453 (Office) +52 984 1121408 (Office) 1-877-379-0346 (Cell) Request More Info

3 Bedrooms /Two main entrance/Prime Location
Type: Condominium
Style: 3-Level Split
Bedrooms: 3
Bathrooms: 4
Garage: Single
Size: 300 sq. m.
Development Level: Built
Lot Type: Rectangular
Year Built: 2006
Taxes: $250.00 USD (2018)
Condo Fees: $150.00 USD

Description

MAGIC PARADISE.

This luxury apartment is as close to paradise as possible with just a one minute walk to put your toes in the salt and sand. Recently renovated. Mamitas Beach is considered by many one of the best Caribbean Beaches. Crystal clear water, white sand, and a public beach club offering comfortable beach chairs, umbrellas, and a full service restaurant who could ask for more during the perfect relaxing vacation? But when you have had enough fun in the sun relax in the comfort of your home while viewing the beautiful sea view and cool breezes from every room or the rooftop solarium. In the famous Mamitas region of Playa Del Carmen and 1.5 blocks from 5th Avenue.
Amenities
Air-conditioned units, air conditioning individually controlled in room, apartment, balcony/Lanai/Terrace, CD player, ceiling fan, closets in room, dining guide, dinner delivery service from local restaurant, Wi-Fi, Free parking, Full equipped kitchen with refrigerator, stove, microwave, coffee maker, toaster, blender lighted Indoor parking, phone services, pool, private bathrooms, remote control televisions with CNN and ESPN and DVD player, safe, separate closets, 2 bedrooms- 3 bathrooms.

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