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 and Tulum Mexico Real Estate | Building Loft | Condo for sale in Playa Del Carmen

Building Loft

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

1Beds 1Baths $170,000USD

$170,000 USD
$2,898,500 MXP
Estimate only. Updated Daily.

Sarah Fouts

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For Sale

Property Description

Property Type: Condo
Status: For Sale
Location: Playa Del Carmen
Property Size: 74 sq. mt.
Property ID: 254039457
Beds: 1
Baths: 1

Downtown Condominium For Sale in Playa del Carmen

This lovely, one bedroom, one bath residence is situated on the ground level of a modern condominium building in the heart of downtown Playa del Carmen. It features an open plan living-dining area and a fully equipped kitchen. High ceilings and large windows make this modern condo feel bright and airy. The bedroom has built in closets and sliding glass doors that open onto a lovely, private patio with a jacuzzi-style tub.

Accessed by a central elevator is the common rooftop terrace with a stunning infinity pool. There is a spacious lounge area and a sizable dining area where you and your guests can enjoy a BBQ or an elegant cocktail party while enjoying the views over the city or taking in the sunset.

Located just steps away from 5th Avenue and three short blocks from the beach, this condo is perfectly situated to take advantage of Playa del Carmen’s unique blend of breathtaking coastline, lush jungles, high-end shopping, world class cuisine and thrilling nightlife. Some of the most popular beach clubs on the Riviera Maya, Mamitas, Kool and Coralina are just a short stroll away.

With downtown Playa del Carmen as your home base, the rest of the Riviera Maya and the Yucatan peninsula is at your fingertips. World-class deep-sea fishing, sailing charters and a myriad of aquatic activities can be found just a short drive away in Puerto Aventuras. Snorkel with the famous turtles of Akumal just half an hour south. An easy day trip from your condo, Tulum with its iconic ocean side ruins and miles and miles of pristine beaches waits to greet you along with celebrities and discerning travelers from around the globe. Best of all, the airport in Cancun is easily reached, providing a convenient gateway to hundreds of international destinations.

A sound investment in your financial future as well as your personal enjoyment, buying a condo in downtown Playa del Carmen is a fantastic choice, whether you decide to use it to generate vacation rental income or to use as your personal residence. You and your guests will enjoy living comfortably with easy access to all that this exciting and diverse seaside city has to offer.

This unit is offered for sale fully furnished and equipped. Contact us today to see this condominium for sale in downtown Playa del Carmen!