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

El Faro 407 Centro (playa del carmen, Quintana Roo, MX - 77710) Built

$449,000 USD

Details

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BuyPlaya Real Estate Advisors

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

Stunning Ocean Views!
Type: Condominium
Style: Single Story
Bedrooms: 1
Bathrooms: 2
Size: 139 sq. m.
Development Level: Built
Year Built: 2008

Description

Gorgeous Ocean Front Vacation Condominium for Sale in Playa del Carmen

This beautiful 1 bedroom condominium is in one of the truly most fabulous beach locations in downtown Playa del Carmen. Right in the heart of it all, in your own little tranquil oasis on the sparkling white sand of the turquoise Caribbean Sea, this third floor condominium with splendid ocean views is located right on the beach, one block from the world famous Fifth Avenue and all the excitement that Playa del Carmen and the Riviera Maya have to offer, you and your vacation guests couldn't ask for more entertainment!

The master bedroom has en suite bathroom with bathtub. The spacious living area is open plan with the dinning area, overviewing the stunning Caribbean sea.
The design of this condominium makes it ideal for use as a vacation rental or as a full time residence, the choice is yours; how long would you like to stay in paradise??

Contact our agents for more information about this fabulous offer!

Attachments

View Listing Brochure

Features

Interior Features

Ceiling Fan
Laundry Room

View

Ocean Front
Ocean View
Water Front

Appliances

Microwave
Oven Range
Refrigerator
Stove
Washer/Dryer Hookup

Cooling

2 Window / Wall Unit

Sewer/Water Systems

Public

Lot Features

Swimming Pool

Extra Features

Balcony
Furnished
Security Guard on Duty

P2#243526989

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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.