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

LUXURY CONCEPT 2 BR CONDO | TERRACE | + AMENITIES, Suite D-510 Solidaridad ( Quintana Roo, MX - 77720) Built

$394,900 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: Condominium
Style: Apartment
Bedrooms: 2
Bathrooms: 2
Size: 983 sq. ft. "91.40 M2"
Development Level: Built
MLS #: PAP4412140

Description

A NEW CODE FOR THE MIDTOWN

Thinking from the beginning, to create a development with design and amenities, so you can spend your free time doing the things that are really worthwhile. You can choose between:

1-bedroom, 2-story, loft-style studios.

2-bedroom apartments with maid's room and bathroom.

3-bedroom penthouses with solarium and private pool.

AMENITIES:

01. Gym
02. Spa
03. Bar
04. Elevator
05. Exclusive pool for the smallest residents
06. Swimming pool exclusively for adults
07. Semi-Olympic pool
08. Subway parking
09. Six elevators
10. Green areas
11. Rooftop bar

Attachments

View Listing Brochure

Features

Interior Features

Ceiling Fan
Hot Tub / Spa
Laundry Room
Marble Floors
Sauna

Exterior Finish

Cement
Concrete
Glass

Roof

Concrete

View

City Lights
Downtown

Lot Features

Deck
Garage
Patio
Playground
Swimming Pool
Trees / Shrubs

Extra Features

Balcony
Central Elevator
Controlled Access
Covered Parking
Fitness Center
Lobby
Security Guard on Duty
TV Security

P2#519915313

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Information is deemed to be correct but not guaranteed.