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

Casa San Francisco Akumal ( Quintana Roo, MX ) Built

$1,750,000 USD

Details

Photos Map

BuyPlaya Real Estate Advisors

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

Type: Residential
Style: Single Story
Bedrooms: 6
Bathrooms: 6
Half Bathrooms: 1
Garage: Double
Size: 525 sq. ft.
Development Level: Built

Description

We are proud to present this beautiful colonial style home for sale on the white sandy beaches of Akumal in the heart of the Riviera Maya. This recent renovated home boasts 6 bedrooms and 6.5 bathrooms is the perfect spot to host wonderful Caribbean family vacations, or group retreats, or rent the villa to others who would like to enjoy it and generate some nice income! This home is just one hour easy drive from Cancun International airport, this villa is located in a private, gated community, and is within a short drive to lots of local amenities and attractions! The beach out front is white and sandy, and the bay is protected by an offshore reef, so the snorkeling here is great! Exploring the bay in your kayak or on your paddle board is also a lot of fun.

Contact our friendly agents today to find out more.

Attachments

View Listing Brochure

P2#456031761

top

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.