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

Serenada Siempre Playa Playa del Carmen ( Quintana Roo, MX ) Under Construction

$434,350 USD

Details

Photos Map

BuyPlaya Real Estate Advisors

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

Type: Condominium
Style: Single Story
Bedrooms: 2
Bathrooms: 2
Size: 128 sq. m.
Development Level: Under Construction
Year Built: 2022

Description

New condos for sale near the beach and 5th Avenue

Serenada is a new luxury condominium project located in the Siempre Playa Midtown development in the heart of downtown Playa del Carmen. The complex is just steps from world-famous 5th Avenue and another minute to the beach. This is one of the best locations in the city and attracts a steady stream of vacation renters. You and your guests will delight in the ease and convenience of this prime downtown location, guaranteeing its constant rental occupancy and ensuring a healthy ROI for many years to come.

This beautiful new 6-story tower features 64 apartments with 2 bedrooms and six exclusive penthouse units with 3 bedrooms, private rooftops and lock-off options for additional occupancy and earning potential. All of the modern residences have a spacious open floor plan and get tons of Caribbean sunshine. The living room and master bedroom open out onto a private balcony or terrace with panoramic views. This is a lovely spot to enjoy coffee in the morning or an evening glass of wine. These condos have travertine tile floors and top-quality finishes that are durable and easy to maintain. They are being offered for sale unfurnished but equipped with ceiling fans and air conditioning.

You and your guests will love the incredible rooftop with a swimming pool, sun loungers, a sky bar, a gym and a kids club. At night, you can take in all the stars or even the twinkling lights from Cozumel. The condo building is safe and secure with gated entry and 24-hour security. It has a commercial area on the ground floor, a lobby area, elevators, concierge service and underground parking.

Siempre Playa Midtown is close to public transportation stops, supermarkets, restaurants, shopping malls, laundromats, pharmacies and a multi-sport complex with a running track, basketball courts and more. This area also offers reliable, high-speed internet access, so you can easily work from home.

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#505673962

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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.