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 Corasol 2 Bedroom Swim up Playa del Carmen ( Quintana Roo, MX ) Under Construction

$461,512 USD

Details

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BuyPlaya Real Estate Advisors

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

Type: Condominium
Style: Single Story
Bedrooms: 2
Bathrooms: 3
Size: 128 sq. m. "128.11 – 140.97 sq. mt."
Development Level: Under Construction
Year Built: 2023

Description

New luxury condos with resort-style amenities

This new luxury 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 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 Riviera Maya 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 beautiful new 2- and 3-bedroom condos and penthouses offer different layouts and options to suit your needs, including lock-off options for additional occupancy and earning potential. They feature avant-garde architecture with double height ceilings and luxury finishes. All of the modern residences have a spacious open-plan layout with floor-to-ceiling windows that let in tons of natural light. The ground floor units enjoy swim-up access and the units on the upper floors have multiple private terraces that overlook the expansive pool area. The luxurious penthouses have private rooftops with plunge pools and shade structures, perfect for entertaining on hot days or laid-back evenings.

A secure gated complex, Awa Corasol boasts luxury amenities such as a huge resort-style pool, a gym, a yoga cave, and a gourmet restaurant. Owners and guests can also enjoy all the benefits of life in Corasol, including access to multiple pools, a professional golf course designed by Nick Price, and the largest beach club in Mexico, with 132 meters of beachfront. The complex has 24-hour security, electric vehicle charging stations, a water treatment plant, solar panels for green energy, and more.

Perfect for people who want a Caribbean getaway for vacations, or even to retire to, these 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#547201462

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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.