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

Lol Kanaab #6 Akumal ( Quintana Roo, MX ) Built

$369,000 USD

Details

Photos Map

BuyPlaya Real Estate Advisors

Marieke Brown 984-803-2487 (Office) 518-250-1269 (Office) Request More Info

Type: Condominium
Style: 3 Story
Bedrooms: 2
Bathrooms: 2
Development Level: Built
Condo Fees: $1,000.00 USD
MLS #: 576599894

Description

Gorgeous beachfront condo for sale in Akumal

This incredible ocean view condo is located in a popular beachfront building on Half Moon Bay in North Akumal. It is just steps from the beach and a few minutes away from the beautiful Yal-Ku Lagoon. A favorite spot for snorkelers, Akumal boasts an easily accessible reef system full of vibrant living coral and teaming with sea life. This tiny seaside village supports a full-service dive shop, a small grocery store, a handful of cafes and restaurants, several boutiques, and even a lovely art gallery.

This sun-filled 2-bedroom, 2-bath oceanfront condo is perfect for vacation rentals or as your own home in paradise. It comes fully furnished and equipped with all the practical amenities that you would expect. It has a colorful interior with a fully equipped kitchen with an island and a spacious living room and dining area. This condo offers ocean views from the kitchen and living area. It has a covered ocean view balcony complete with a hammock to relax in after a long day snorkeling on the reef directly in front of the condo or kayaking in the bay. A few steps from your door, there is a lovely oceanfront pool with plenty of loungers to soak up the Caribbean sun and shady palapas when you need to beat the heat.

The quiet seaside community of Akumal is nestled in the heart of the Riviera Maya, about halfway between Playa del Carmen and Tulum, and just over an hour's drive from the airport. Enjoy all the Riviera Maya has to offer; just a short drive to either Tulum, famous for its miles of pristine white sandy beaches next to ancient Mayan ruins, or the bustling seaside world class tourist destination of Playa del Carmen, well-known for fantastic shopping, international cuisine, and exciting nightlife.

Perfect for people who want a Caribbean getaway for vacations, or even to retire to, this condo will bring many years of personal enjoyment while providing an excellent income if used for vacation rentals. Contact one of our friendly and knowledgeable agents today for more information.

Attachments

View Listing Brochure

Features

View

Ocean Front
Ocean View
Water Front
Water View

Appliances

Generator
Hood Fan
Indoor Grill
Microwave
Refrigerator
Stove

Cooling

2 Window / Wall Unit

Sewer/Water Systems

Public

Lot Features

Front Porch
Patio
Swimming Pool

Extra Features

Furnished
Pets Allowed
Security Guard on Duty

P2#576599894

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Information about Playa del Carmen real estate displayed on this website is deemed to be correct but not guaranteed. Please contact me to confirm all information at Rob@BuyPlaya.com.