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

Sabor a Miel 1 bedroom Zazil-ha (Playa del Carmen, Quintana Roo, MX - 77710) Built

$254,900 USD

Starting at $240,000

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Details

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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

Only Few Units Left!
Type: Condominium
Style: Single Story
Bedrooms: 1 "1, 2 and 3 Bedrooms"
Bathrooms: 1 "1, 2 and 2 1/2 Bathrooms"
Garage: Single
Size: 63 sq. m.
Development Level: Built
Lot Type: Rectangular
Year Built: 2015
Taxes: $380.00 USD
Condo Fees: $400.00 USD

Description

Steps from Coco Beach!

Playa del Carmen plays host to beach lovers from all over the world; don't miss this opportunity to find your place in the sun!

Located in one of the best areas of downtown Playa del Carmen near beaches, shopping, nightlife and all the fun in the sun this bustling beach town has to offer. This brand new 13 unit condominium development has 1, 2, and 3 bedroom condos that range from around 710 square feet to 1560 square feet with various floor plans to choose from.

This up and coming area of Playa del Carmen is located just 1 block off of the pristine white sand beach of the Mexican Caribbean Sea and a short walk from the internationally famous 5th Avenue making this an excellent investment sure to provide many year s of enjoyment and vacation rentals for you and your family.

Contact our knowledgeable agents today for more information!

Attachments

View Listing Brochure

Highlights

Breathtaking Ocean Views
Pool & Jacuzzi Area
Underground Parking
Downtown Location

Features

Interior Features

Ceiling Fan

View

Downtown

Appliances

Dryer
Indoor Grill
Refrigerator
Washer

Lot Features

Corner Lot
Swimming Pool

Extra Features

Balcony
Fitness Center
Satellite Dish
Security Guard on Duty
Storage

P2#145165740

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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.