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

Downtown Lot Playa del Carmen ( Quintana Roo, MX ) Land Only

SOLD $5,900,000.00 USD

Details

Photos Map

BuyPlaya Real Estate Advisors

Rob Kinnon (984) 803-2487 (Office) (518) 250-1269 (Office) (518) 874-5053 (Fax) Request More Info

Type: Lots and Land
Style: Single Story
Size: 1,458 sq. m.
Development Level: Land Only

Description

Commercial building lot for sale in a prime downtown location

BuyPlaya Real Estate Advisors is pleased to present for sale the only large, legally salable commercial building lot in downtown Playa del Carmen. This huge beachfront property is located just steps from world-famous 5th Avenue and all the fun and sun that make this coastal resort town a highly desirable vacation destination. This 1,458-square-meter condo/hotel lot has an impressive 15 meters of beachfront and 20 meters of street access. It is approved for 74 rooms of construction.

Playa del Carmen is nestled in the heart of the Riviera Maya, about halfway between Cancun and Tulum and just 45 minutes down the coast from the airport. This lively beach town attracts vacationers from all over the world. It's known for its gorgeous white sand beaches and bustling pedestrian street with blocks of shops, restaurants and nightspots. This downtown Playa del Carmen commercial building lot is perfect for a savvy investor looking to expand into this rapidly growing tourist destination.

This centrally located beachfront lot is ideal for a large-scale condo, commercial or hotel development. Contact one of our friendly and knowledgeable agents today for more information.

P2#468204479

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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.