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 2 Bedrooms Grand Coral (Playa del Carmen, Quintana Roo, MX ) Built

$449,162 USD

Details

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BuyPlaya Real Estate Advisors

Dani Knod (984) 803-2487 (Office) (518) 250-1269 (Office) Request More Info

Type: Condominium
Style: Single Story
Bedrooms: 2
Bathrooms: 2
Half Bathrooms: 1
Garage: Single
Size: 167 sq. m. "167 - 174 sq. mt."
Development Level: Built
Year Built: 2009

Description

Incredible beachfront condos with resort-style amenities

This luxury development in Corasol 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 paradisiacal 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 residential resort community is a highly sought out tourist destination sure to be an excellent source of rental income or a comfortable year-round residence.

These gorgeous 2, 3 and 4 bedroom condos and penthouses offer different layouts and options to suit your needs. They feature a spacious open floor plan and a wide patio or balcony with panoramic Caribbean and pool views. They are beautifully designed with tile floors and top quality finishes. Plenty of kitchen storage space and closet space make these condos comfortable for everyday living and a breeze for your vacation guests. Ground level units have a private pool and penthouse units feature a private rooftop terrace. Whether you are enjoying grilling out on the balcony or cooking in the top-of-the-line gourmet kitchen, entertaining is a breeze in these luxury resort-style condos.

Owners and guests at Mareazul enjoy all the perks of living in a Riviera Maya resort community. The development features a gorgeous pool, tennis and paddle ball courts, a clubhouse, a gym, a spa, and outdoor restaurants. This is the perfect location to enjoy the serenity of the long white sand beach, the tranquility of the lush 18-hole golf course, the security of a gated community and the convenience of being just a few minutes from all the excitement of downtown Playa del Carmen.

Corasol 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 these condos will provide an excellent return on your investment if used as a vacation rental.

These condos are being offered for sale unfurnished but equipped with central air and some appliances. Contact one of our friendly and knowledgeable agents today for more information.

Attachments

View Listing Brochure

P2#397518104

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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.