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

AWA Phase III 3 Bedrooms Playacar (Playa del Carmen, Quintana Roo, MX ) Under Construction

$464,093 USD

Details

Photos Map

BuyPlaya Real Estate Advisors

Dani Knod (984) 803-2487 (Office) (518) 250-1269 (Office) Request More Info

Type: Condominium
Style: Single Story
Bedrooms: 3
Bathrooms: 3
Garage: Single
Size: 159 sq. m. "158.95- 197.68 sq. mt."
Development Level: Under Construction
Year Built: 2023

Description

AWA Playacar Residences Phase III

BuyPlaya is pleased to present AWA Residences in Playacar. This spectacular modern complex is located in Playacar Phase 2, home to the Hard Rock Golf Club, and a challenging 18-hole golf course designed by Robert Von Hagge.

AWA will feature total of 230 luxury condominiums in three residential towers. The complex will boast incredible features and amenities including 8 elevators, 24/7 security and parking, a motor lobby, concierge services, professional property management and vacation rental services, a kids club, snack bar, yoga center, bar/lounge and more.

1, 2, 3 and 4 bedroom units are available, each with high-end finishes and a sleek, modern design. Each unit will overlook a gorgeous tropical oasis with professionally landscaped tropical gardens and a spectacular 160-meter pool with a swimming lane as well as a wading area for children. Surrounding the pool is plenty of space for lounge chairs and green spaces with two grills for alfresco BBQs and shaded hammock areas. On the second floor, also overlooking the pool and zen gardens, will be a gym with spinning salon as well as a spa and wellness center. The rooftop will boast two infinity pools, jacuzzi style tubs and plenty of lounge space with incredible views.

AWA will be located inside the gated resort community of Playacar Phase 2. Enjoy all the safety of this secure community while still being close to the beach and all the excitement of downtown Playa del Carmen. Owners in Playacar Phase 2 have access to the Reef Resort Beach Club and enjoy discounts at the golf club. This is an ideal location for your vacation or retirement home. This will be one of the best new developments in Playacar Phase 2 and likely the last one of this size and scope.

Delivery for the third phase of AWA is scheduled for March 2023! Pre-sale pricing is in effect.

Attachments

View Listing Brochure

P2#487325305

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.