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

The City 2 Bed $270,000 Playa del Carmen ( Quintana Roo, MX - 77710) Built

$270,000 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: 2
Bathrooms: 2
Garage: Single
Size: 93 sq. ft.
Development Level: Built
Year Built: 2017

Description

Menesse The City – Resort Living in Downtown Playa del Carmen

If you love city living but also want the amenities of a luxury resort, Menesse “The City” is exactly what you have been looking for!

These elegant units have 2 bedrooms and 2 baths and offer a lock-off affording you the option to maintain vacation rental income while you are enjoying your new home in paradise! These condominiums all have nice open-living floor plans with large windows opening up to a private terrace and bringing in lots of natural light and Caribbean breezes. The kitchen and bathrooms are all done with top quality materials that are durable and easy to maintain. Each unit is being sold with all appliances and beautiful Italian furnishings and ready for you to bring you own style and decorative touches to make a chic vacation home of your very own!

The amenities offered by Menesse “The City” are incomparable and include 24 hour security, lobby area with reception, elevator access, secure underground parking, an amazing skybar with lounge and rooftop pools for both children and adults-only, a covered cinema, kids club, fitness center with steam room, wet areas and sauna and much, much more! You truly need to see it all to believe it.

Just a few short blocks from 5th Avenue and another minute to the beach, the residences at Menesse “The City” are ideally situated to take advantage of Playa del Carmen’s unique blend of breathtaking coastline, lush jungles, high-end shopping, world-class cuisine and thrilling nightlife. Some of the most popular beach clubs on the Riviera Maya, Mamitas, Kool and Coralina are just a short stroll away. Within a 5 minute stroll, the list of amazing restaurant and shopping opportunities goes on and on! For those planning on making “The City” a full-time home or retirement destination, the complex is situated within a very short walk to grocery stores, produce markets, pharmacies, medical services and everything you could possibly want or need to live safely and comfortably in Playa del Carmen.

Playa del Carmen is one of the worlds most desirable and sought after vacation destinations. These ultra modern Playa del Carmen condos are a well-priced investment and offer amazing ROI for clients based on vacation rental income. Contact our agents today for more information!!

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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.