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 | Mixteca | Condo for sale in Playa Del Carmen

Mixteca

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

1Beds 2Baths $165,000USD

$165,000 USD
$2,852,850 MXP
Estimate only. Updated Daily.

Danielle Knod

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For Sale

Property Description

Property Type: Condo
Status: For Sale
Location: Playa Del Carmen
Property ID: 487326801
Beds: 1
Baths: 2

Condo for sale on 5th Avenue in the heart of downtown

You just can’t get more centrally located than this condo for sale at Mixteca in downtown Playa del Carmen. Located on the corner of 20th Street and 5th Avenue, it’s just steps from shopping, dining, nightlife and all the fun and sun that make Playa del Carmen a world-famous tourist destination. This is one of the best locations in the city and attracts a steady stream of vacation renters. Your guests will delight in the ease and convenience of this prime downtown location, guaranteeing its constant rental occupancy and ensuring a healthy return on your investment for many years to come.

This modest 3rd-floor condo, given its location, has huge potential. It has one bedroom, two baths and a balcony that overlooks 5th Avenue. This apartment has a spacious open layout and gets tons of Caribbean sunshine. It has terrazzo tile floors and concrete built-ins throughout. It is being offered for sale furnished and equipped with ceiling fans. This condo also features a private rooftop terrace, an outdoor kitchen and a thatched-roof palapa that can be used as a second bedroom. The rooftop is in need of a full overhaul, but when it is done, you’ll have a beautiful outdoor space to enjoy.

Owners and guests at Mixteca can enjoy access to a lovely communal pool area with an outdoor grill and landscaped tropical gardens, perfect for entertaining. The condo building is fully gated-in offering a wonderful sense of security and privacy for you and your guests. It's also just a short walk to the beach, the Cozumel ferry and Mamita's Beach Club.

This is a fantastic opportunity for someone who wants an affordable apartment or a profitable vacation rental close to the beach. Contact one of our friendly and knowledgeable agents today for more information.