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

2 BEDROOM APARTMENT- LOCK OFF SUITE AND TERRACE - PLAYA DEL CARMEN- QUINTANA ROO, Suite Unit 204 Solidaridad ( Quintana Roo, MX - 77720) Built

$394,493 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: 936 sq. ft. "87 m2"
Development Level: Built
MLS #: PAP3546574

Description

The first thing the sun touches in the morning filtered by
the blue sea of ??the caribbean.
Between fifth avenue and the sea we create a space
that stands out for its style and high level, thanks to its
impeccable design and diverse environments is very easy
enjoy, live together and have memorable moments.

AMENITIES
The experience of living transcends each of the spaces that were
designed to create different environments, these places will be perfect for
enjoy, rest, live and meditate.
LOBBY
Surrounded by air and vegetation, it is the perfect space to welcome you home.
BONFIRE
A different environment among the vegetation that allows you to enjoy a view of the Caribbean Sea.
TERRACE / POOL
A perfect environment to enjoy 180 degrees of sea, sun, shade, water and vegetation.
GYM
Keep your balance in a spacious space integrated into the horizon.

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Features

Lot Features

Deck
Gated Community
Swimming Pool

Extra Features

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

P2#437370075

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Information is deemed to be correct but not guaranteed.

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