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

THE IDEAL LOT FOR YOU IN A GATED COMMUNITY IN TULUM Carretera Tulum Coba (Tulum, Quintana Roo, MX - 77760) Under Construction

$136,998 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: Lot / Land
Size: 1,284 sq. ft. "119.29m2"
Development Level: Under Construction
Lot Size: 1284.03 sq. ft.
MLS #: PLA4353376

Description

It's time to discover a new way of life, surrounded by nature and connected to it. 5 minutes from the town of Tulum and 15 minutes from the beach, you will find a place that embraces and protects those who receive it. A private development with ample green areas and spaces for the quality of life you deserve.

At kilometer .10 of the Tulum-Cobá highway, with direct road access.

PRIVACY AND NATURE

By building 40% of the land only contemplates a privacy granted between the houses of the development to the neighbors, also taking advantage of the abundance of green areas, the adjoining to respect is 3 meters per side in each house.

AMENITIES:
Pet Park
Temazcal
Fire Pit
Jungle Gym
Yoga and meditation area
Kids zone & Tree House
Vegetable patch

INFRASTRUCTURE
Perimeter fence
Subway electrification
White street
Controlled access
HOA

Attachments

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Features

Lot Features

Cul-de-sac
Garden Area
Gated Community
Playground

Extra Features

Controlled Access
Fitness Center
Lobby
Pets Allowed
Security Guard on Duty

P2#514521800

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Information is deemed to be correct but not guaranteed.

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