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 Playa Del Carmen and the Riviera Maya

Sueños del Mar Centro (Playa del Carmen, Quintana Roo, MX - 77710) Built

$650,000 USD

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BuyPlaya Real Estate Advisors

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

Luxurious Downtown Penthouse
Type: Condominium
Style: 2 Story
Bedrooms: 2
Bathrooms: 2 "Plus 1/2 Bathroom"
Size: 227 sq. m.
Development Level: Built
Lot Type: Rectangular
Condo Fees: $5,126.00 MXN

Description

Luxurious Penthouse For Sale Downtown Playa Del Carmen

You just can't get more centrally located than this modern and luxurious 2 story penthouse located between the beach, and world famous 5th Avenue. This chic penthouse is right in the heart of shopping, nightlife, beach clubs, and all the fun and sun that makes Playa del Carmen a world famous tourist destination. Just steps from the beach and Playa del Carmen's hottest beach clubs and coolest nightlife, you and your guests will love being right on the pulse of this fast growing beach town.

With all the comforts of home this modern styled condominium is filled with natural lighting in the gorgeous solarium area and master bedroom on the second level, modern and functional furnishings, and top of the line appliances. Your guests will delight in watching the sunrise from rooftop terrace or enjoying the refreshing ocean breezes in the evening while having a cocktail in the jacuzzi. The master bedroom, complete with en suite bath and walk in closet, is a dream of modern lighting and design composition that you have to see to truly appreciate. With only one previous owner, this penthouse features 2 offices on the first level, that could be turned into a large bedroom or into two separate bedrooms sharing one large full bathroom.

If you are in the market for a high performing vacation rental, or if you wish to make this amazing penthouse into your own vacation or longterm home, this could be just the place for you!

Contact our agents today for more information about this fantastic investment opportunity.

Attachments

View Listing Brochure

Features

Interior Features

Ceiling Fan
Hot Tub / Spa

View

Downtown

Appliances

Dryer
Garbage Disposal
Gas Range
Microwave
Oven Range
Refrigerator
Stove
Washer
Washer/Dryer Hookup

Cooling

3+ Window / Wall Unit

Sewer/Water Systems

Public

Extra Features

Furnished
Satellite Dish

P2#195917042

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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.