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

Downtown Beachfront Condo Downtown Beachfront (Playa del Carmen, Quintana Roo, MX - 77710) Built

$192,000 USD

Details

Photos Map

BuyPlaya Real Estate Advisors

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

Excellent Location!
Type: Condominium
Style: Single Story
Bedrooms: 2
Bathrooms: 2
Garage: Single
Development Level: Built
Lot Type: Rectangular
Condo Fees: $330.00 USD

Description

Incredible Downtown Location

The very best Playa del Carmen has to offer is right here at this lovely 2 bedroom, 2 bathroom oceanfront condominium. This condominium building is a rare find in Playa del Carmen real estate, being located on the world known sparkling white sand Caribbean beach.

Situated in the heart of old Playa del Carmen, The ferries to Cozumel which run hourly are just 2 minutes walk from your front door. Spend the afternoon having a cocktail with your family and guests on your large and wide terrace, facing a garden area filled with lush tropical vegetation. Only steps to 5th Avenue to enjoy the world class cuisine, shopping and nightlife that only Playa del Carmen can provide.

This condo will certainly do well if you are looking for an income producing investment in Playa del Carmen! Guaranteed to provide many years of vacation memories and rental income, this condo is a fantastic investment in your future.

For more information and to arrange a viewing, call our agents today.

Features

Interior Features

Laundry Room
Window Covers

View

Forest

Appliances

Dishwasher
Dryer
Hood Fan
Microwave
Oven Range
Refrigerator
Stove
Washer

Cooling

3+ Window / Wall Unit

Sewer/Water Systems

Public

Lot Features

Courtyard
Deck

Extra Features

Balcony
Cable Available
Furnished
Storm Shutters (Manual)

P2#187183809

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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.