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

Cancun ( Quintana Roo, MX - 77500) Built

$189,000 USD

Details

BuyPlaya Real Estate Advisors

Rob Kinnon (984) 803-2487 (Office) (518) 250-1269 (Office) (518) 874-5053 (Fax) Request More Info

Type: Residential
Style: 3 Story
Bedrooms: 4
Bathrooms: 3
Half Bathrooms: 2
Garage: Single
Size: 250 sq. m.
Development Level: Built
Lot Size: 120.24 sq. m.
Year Built: 0
MLS #: C3159

Description

Large recently remodeled house in a gated community Residential Bahia Azul, great location only a couple of minutes away from Puerto Cancun and 10 MINUTES from the BEACH!
Great for a large family or as a rental property. This house has a great distribution and keeps cool during the summer!
House consists of 3 levels in total, greeting you with a beautiful solarium and an awesome rooftop for entertaining with a bar and bbq area.

DETAILS -

4 BEDROOMS (2 WITH ONSUITES)
3 BATHROOMS
2 HALF BATHS
KITCHEN WITH EAT IN BAR
DINING ROOM
LIVING ROOM
SOLARIUM
LARGE BACK YARD WITH POOL AND PALAPA
LAUNDRY ROOM (WITH 1/2 BATH) AND BODEGA
ROOF TOP WITH PALAPA + BAR + BBQ AND DINING AREA

EXTRAS -
MAINTENANCE FOR THE GATED RESIDENTIAL IS $400 MXN OR $20 USD A MONTH

GREAT HOME FOR INVESTMENT PROPERTY OR FAMILY VACATION HOME!
PRICE IS NEGOTIABLE!

EM C3159

Attachments

View Listing Brochure

Brokered and Advertised by : CENTURY 21 Caribbean Paradise

P2#535181813

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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.