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

Mareazul 3 Playa del Carmen ( Quintana Roo, MX ) Built

$1,295,000 USD

Details

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BuyPlaya Real Estate Advisors

Sarah Fouts 518-250-1269 (Office) 984-803-2487 (Cell) Request More Info

Type: Condominium
Style: Single Story
Bedrooms: 4
Bathrooms: 4
Half Bathrooms: 1
Garage: Double
Size: 243 sq. m.
Development Level: Built
Year Built: 2007
Taxes: $13,674.00 MXN
Condo Fees: $17,202.00 MXN

Description

Superb ocean view penthouse with resort-style amenities

This luxury penthouse for sale in Grand Coral is the ultimate in resort-style living. With enormous swimming pools stretching across the entire common area all the way to the edge of the sparkling white sand beach, you and your guests will love vacationing in this paradisaical gated community. Located just a few minutes north of Playa del Carmen, famous worldwide for its variety of culinary delights, nightlife and shopping, this exclusive beachfront resort community is a highly sought out tourist destination sure to be an excellent source of rental income or a comfortable year-round residence.

This gorgeous ocean view penthouse is expansive and luxurious with 4 bedrooms and 4.5 baths. It features a spacious open floor plan and a wide balcony with panoramic Caribbean Sea and pool views. Each of the bedrooms is generously sized with an elegantly finished en suite bathroom and abundant storage space. The master bedroom features a large walk-in closet and a luxurious master bath with a Jacuzzi. Whether you are enjoying grilling out on the balcony or cooking in the top-of-the-line gourmet kitchen, entertaining is a breeze in this beautifully designed luxury resort-style condo.

Owners and guests at Mareazul enjoy all the perks of living in a Riviera Maya resort community. This is the perfect location to enjoy the serenity of the long white sand beach, the tranquility of the lush 18 hole, par 71 golf course, the security of a gated community and the convenience of being just a few minutes from downtown Playa del Carmen.

Grand Coral is perfect for people who want a stress-free Caribbean getaway for vacations, or even to retire to. Its extraordinary resort-style setting attracts a steady stream of vacation renters and this penthouse will provide an excellent return on your investment if used as a vacation rental.

This incredible penthouse is being offered for sale fully furnished and ready for you to make it your own. Contact one of our friendly agents today for more information or to schedule a showing.

Attachments

View Listing Brochure

P2#358724427

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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.