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 Fives 1 Bedroom Puerto Morelos ( Quintana Roo, MX ) Under Construction

$439,000 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: 1
Bathrooms: 1
Size: 76 sq. m. "76 - 107 sq. mt."
Development Level: Under Construction

Description

New beachfront condos for sale in Puerto Morelos

The Fives Oceanfront is an exciting new beachfront condominium project with an unbeatable location just north of the downtown area in the Puerto Morelos hotel zone. This quiet seaside community supports a local farmer's market, convenience stores, pharmacies, grocery stores, restaurants, and more. Nature lovers will adore the proximity to the gorgeous white-sand Caribbean beaches, eco-parks, and dozens of amazing cenotes that are scattered throughout the Mayan jungle.

This beautiful new residential development has all the amenities and luxury you would expect from a 5-star resort. It offers studios, residences, and penthouses with different layouts and options to suit your needs. All of the modern residences feature spacious open floor plans, natural materials, and inviting indoor-outdoor living spaces with sweeping ocean views. They have a full kitchen with a breakfast bar and premium appliances, a luxurious master bath with a double sink and a walk-in shower, and top-quality finishes. All of the residences come fully furnished and move-in ready.

Amenities at the Fives Oceanfront include a private beach club, two infinity pools, an ocean view rooftop, a fitness center, a spa, three gourmet restaurants, and a coffee shop. The Fives offers a worry-free vacation rental management program ensuring a profitable ROI for those who wish to use their condo as a rental investment property. The rental program covers homeowner’s insurance, property taxes, maintenance fees, and utilities. The Fives also offers room service, concierge service, and housekeeping. The complex is safe and secure with gated entry and 24-hour security.

Puerto Morelos is conveniently located about halfway between Cancun and Playa del Carmen, and just 20 minutes from the airport. Enjoy all the Riviera Maya has to offer; just a short drive to either the coastal city of Cancun or the bustling seaside world class tourist destination of Playa del Carmen, well-known for fantastic shopping, international cuisine, and exciting nightlife.

These new luxury condos are perfect for vacation rentals or as your own home in paradise. Contact one of our friendly and knowledgeable agents today for more information.

Attachments

View Listing Brochure

P2#438728839

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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.