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

BuyPlaya Real Estate Advisors

Your Number 1 Broker in the Riviera Maya

Calle 38 Centro (Playa del Carmen, Quintana Roo, MX - 77710) Built

$161,952 USD

Starting at $168K

Request More Info

Details

Photos Map

BuyPlaya Real Estate Advisors

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

New Construction
Type: Condominium
Style: Single Story
Bedrooms: 1 "1 and 2 Bedrooms"
Bathrooms: 1 "1 and 2 Bathrooms"
Garage: Single
Development Level: Built
Lot Type: Rectangular
Year Built: 2015 "Delivery for February 2015"
Taxes: $200.00 USD
Condo Fees: $180.00 USD

Description

New Condominium Development Downtown Playa del Carmen

With this ultra convenient location in the heart of Playa del Carmen near shopping, grocery stores, the world famous 5th Avenue and a short walk from the soft white sand beaches that lure beach lovers from all over the world, these brand new condominiums are sure to be an excellent investment certain to increase in value and make a hefty annual return on investment if used as a vacation rental. With 1 and 2 bedroom condominiums available, you can take advantage of this incredible opportunity to own a slice of paradise that fits your needs and your budget.

This brand new project is being constructed by one of the most dependable developers in Playa del Carmen, with a history of sound construction and excellent value. Get in on the ground floor of this new project and enjoy your pick of 1 or 2 bedrooms or penthouse with private terrace. With luxury finishes, communal swimming pool and sundeck area, balconies, and beautiful kitchen design this new condominium complex will sell out soon!

Be sure to contact our agents today for you chance to own one of these beautiful, brand new condominiums downtown Playa del Carmen!

Attachments

View Listing Brochure

Highlights

Fantastic Downtown Location
3 Blocks From White Sand Beach
Communal Pool and Sundeck
Near Shopping, Restaurants and Nightlife

Features

Interior Features

Laundry Room

View

Downtown
Panoramic

Appliances

Dishwasher
Dryer
Hood Fan
Oven Range
Refrigerator
Washer

Cooling

3+ Window / Wall Unit

Lot Features

Corner Lot
Deck
Fenced
Landscaped
Patio
Swimming Pool

Extra Features

Balcony
Central Elevator
Controlled Access

P2#131875981

top

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.