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

Playa Del Carmen Real Estate | Mara | Condo for sale in Playacar

Mara

Playacar (Playa del Carmen, Quintana Roo, MX - 77710)…

3Beds 3.5Baths $869,500USD

$869,500 USD
$15,277,115 MXP
Estimate only. Updated Daily.

Danielle Knod

Request more information

En Venta

Property Description

Tipo de Propiedad: Condo
Estatus: En Venta
Localidad: Playacar
Tamaño de la Propiedad: 249.59 sq. mt.
Propiedad ID: 263445741
Hab.: 3
Baños: 3.5

Truly Luxurious Residence in Playacar

Desirable and hard to find 3 bedroom luxury condominium now offered for sale at Mara Residences in Playacar. Mara is a 24 unit complex with 6 Garden Houses, 12 Residential Units and 6 Penthouses, each with private rooftop terraces and stunning ocean views. All of the units in Mara have spacious floor plans with ceiling heights of over 10 feet, sound insulated walls, solid core doors and are smart-technology ready.

Located just inside the secure gated community Playacar Fase II but still just a short walk from the charming pedestrian mall Paseo del Carmen, the ferry dock, and Playa del Carmen’s world famous 5th Avenue, the residences at Mara are uniquely poised to offer owners and guests the best of both worlds. Luxury resorts, the Hard Rock Golf Club and a variety of restaurants and boutiques all neighbor this exclusive new development. Best of all, Mara is situated just 2 blocks from the beautiful white sand beaches of the Mexican Caribbean.

A private community inside a private community, Mara offers owners secure controlled access garage parking as well as 24-hour security and video surveillance. The complex affords one storage area for each unit, 3 elevators, a lobby with drop off area, administrative and maintenance offices as well as a library and lecture room.

Owners and guests will love the 2000 square meters of gardens and green space, the lavish spa with sauna, steam bath and treatment rooms and the remarkable rooftop garden with infinity pool, integrated hot tub and designated swimming lane. There is also a separate children’s pool, board game tables, areas for BBQ and men’s and women’s bathrooms.

Contact our agents today for more information.