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

Costa Residences 4 Bedrooms Playa del Carmen ( Quintana Roo, MX ) Under Construction

$3,713,694 USD

Details

Photos Map

BuyPlaya Real Estate Advisors

Sarah Fouts 518-250-1269 (Office) 984-803-2487 (Cell) Request More Info

Type: Condominium
Style: Single Story
Bedrooms: 4
Bathrooms: 4
Half Bathrooms: 1
Size: 647 sq. m.
Development Level: Under Construction
Year Built: 2021

Description

Gorgeous oceanfront condos with resort-style amenities

This new luxury residential development in Corasol is the ultimate in resort-style living. You and your guests will love vacationing in this paradisiacal gated community. This is the perfect location to enjoy the serenity of the long white sand beach, the tranquility of the lush 18-hole, par 71 golf course, the security of a gated community and the convenience of being just a few minutes from all the excitement of Playa del Carmen. 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 spectacular 3- and 4-bedroom condos and penthouses are expansive and luxurious. From the spacious terraces with the added luxury of a jacuzzi style spa tub or a plunge pool, to the gourmet kitchen; every detail of these fabulous oceanfront condos has been planned for maximum comfort. All of the modern residences are beautifully designed and feature neutral tones and natural materials that blend seamlessly with the tropical surroundings. They come equipped with central air; and premium finishes and furniture packages are available to purchase from the developer.

Owners and guests at Costa Residences enjoy all the perks of living in a Riviera Maya resort community. This new high-end development features multiple pools, an adventure park and a professional golf course designed by Nick Price. It is home to the largest beach club in Mexico, with 132 meters of beachfront. It has a clubhouse, a marketplace, a lounge bar, a yoga studio, restaurants, an art gallery, a gym, a spa and more. The complex is safe and secure with gated entry and 24-hour security.

Corasol features an unbeatable location in the heart of the Riviera Maya, about eight minutes from the bustling seaside world class tourist destination of Playa del Carmen, well-known for fantastic shopping, international cuisine and exciting nightlife, and just 40 minutes from the airport.

Perfect for use as a vacation home or as a year-round residence, these luxury condos will bring many years of personal enjoyment while providing an excellent income if used for vacation rentals. Contact one of our friendly and knowledgeable agents today for more information.

Attachments

View Listing Brochure

P2#456031902

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.