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

Terrazas Bahia Principe (Akumal, Quintana Roo, MX ) Built

$325,000 USD

Details

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BuyPlaya Real Estate Advisors

Marieke Brown 984-803-2487 (Office) 518-250-1269 (Office) Request More Info

Type: Condominium
Style: Single Story
Bedrooms: 2
Bathrooms: 2
Garage: Single
Size: 127 sq. m.
Development Level: Built
Condo Fees: $4,500.00 MXN

Description

Beautiful garden level condo with luxury amenities

This condo for sale at Terrazas in Akumal offers inviting indoor-outdoor spaces and the perks of living in a resort community. Nestled in the sprawling 717-acre Grand Bahia Principe residential golf resort, the property is surrounded by world-class golfing and just minutes from the natural beauty of the Caribbean coast. Bahia Principe is situated in the heart of the Riviera Maya, about halfway between Playa del Carmen and Tulum, and just 50 miles (80 km) south of Cancun International Airport.

This bright and modern 2 bedroom 2 bath garden level condo offers 1,367 sq. ft. (127 m2) of indoor-outdoor living space. It has a beautiful modern kitchen with a breakfast bar and premium appliances including a refrigerator, a dishwasher, a microwave, an oven, and a countertop range with a hood fan. The floor plan is open with the kitchen and living area opening out onto a good-sized covered terrace with pool and garden views, perfect for your morning coffee and breakfast. This condo is beautifully maintained with tile floors and top quality finishes. It comes equipped with all the practical amenities that you would expect, including air conditioning and a stackable washer and dryer.

Owners and guests enjoy all the benefits of life in Bahia Principe including access to the resort’s world-class 27-hole golf course designed by Robert Trent Jones II, beautifully landscaped tropical gardens, tennis and basketball courts, restaurants, bars, and two fabulous beach clubs. The Terrazas complex also features a swimming pool, an enclosed fitness center, and an outdoor grill area. There are also front desk staff and security on duty around the clock, so you always feel safe and relaxed.

This condo is a fantastic vacation getaway or rental investment opportunity. Bahia Principe is one of the most popular resort communities in the Riviera Maya and attracts a steady stream of vacation renters, ensuring a healthy return on your investment for many years to come.

This incredible condo is being offered for sale fully furnished and ready for you to make it your own. Contact one of our friendly and knowledgeable agents today for more information.

Attachments

View Listing Brochure

P2#416783125

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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.