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

Captivating Land in Xpu-Ha MLS20288 Xpu-Ha ( Quintana Roo, MX - 77776) Land Only

$170,000 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

Price Starting at 170,000USD
Type: Lots and Land
Style: Lot / Land
Size: 6,400 sq. ft. "Lot Size Starting at 6400 SQ.FT"
Development Level: Land Only
Lot Size: 600 sq. ft.
MLS #: 20288

Description

Captivating Land in Xpu-Ha MLS20288

This development is located just 5 minutes from the beach and it has direct access from the development all the way to the world famous Xpu-Ha beach.

The prices for the land and this development range from 170k to 220k usd with square footage ranging from 6400 to 6500 square feet

The delivery date for this development is September 2023

Amenities included with the purchase of this development are several recreational pools, jacuzzis, terraces, party rooms, green areas, BBQ areas & a private beach club.

Attachments

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Features

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Forest

Lot Features

Clubhouse
Deck
Garden Area
Landscaped
Lawn
Playground
Swimming Pool
Trees / Shrubs

Extra Features

Controlled Access
Fitness Center
Security Guard on Duty

Brokered and Advertised by : MyCasa

Listing Agent: Raul Morales

P2#515776048

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Information is deemed to be correct but not guaranteed.

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