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

Kyle's Building Playa del Carmen ( Quintana Roo, MX ) Built

$899,000 USD

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

Type: Condominium
Style: Single Story
Size: 260 sq. m.
Development Level: Built
Year Built: 2012
Taxes: $3,876.00 USD

Description

Fantastic investment opportunity in downtown Playa del Carmen

This well-maintained 14-unit apartment building is offered for sale fully furnished and ready for immediate rental income. It features an unbeatable location in Playa del Carmen’s vibrant Colonia Hollywood neighborhood, just minutes from the white sandy beaches and all the excitement of world-famous 5th Avenue. It’s also situated within easy walking distance of public transportation stops, supermarkets, restaurants, shopping malls, laundromats, pharmacies, fitness centers, yoga studios, and a multi-sport complex with a running track, basketball courts, and more.

Your guests will delight in the ease and convenience of this prime downtown location, guaranteeing its constant rental occupancy and ensuring a healthy return on your investment for many years to come. The building’s 14 bright and cheerful rental units are nicely furnished and equipped with ceiling fans and mini split air conditioning units. Each of the units features an open floor plan with a kitchenette, a breakfast bar, and built-in closets. The building has an outdoor barbecue area and secure gated entry.

This building will easily generate enough rental income to provide a comfortable income. Contact one of our friendly agents today to learn more about this fantastic investment opportunity!

Attachments

View Listing Brochure

P2#342652973

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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.