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 | La Sirena | Condo for sale in Akumal

La Sirena

Akumal (Akumal, Quintana Roo, MX - 77781)…

2Beds 2Baths $379,000USD

$379,000 USD
$6,515,010 MXP
Estimate only. Updated Daily.

Marieke Brown

Request more information

Vendido

Property Description

Tipo de Propiedad: Condo
Estatus: Vendido
Localidad: Akumal
Tamaño de la Propiedad: 112.85 sq. mt.
Propiedad ID: 549836569
Hab.: 2
Baños: 2

This single-story, first floor beachfront condo includes all the features vacationers and residents need for an unforgettable experience. Soaring cathedral ceilings and panoramic ocean views fill the two bed, two bath space with refreshing coastal breezes from the Caribbean Sea. The shady, landscaped courtyard outside features a community swimming pool that is ideal for entertaining on hot days or laid back evenings. There is even a covered patio for appreciating the remarkable seaside in any weather.

The home is dominated by gorgeous views of Akumal. The formal dining room is set with ample windows that are just steps away from the Akumal’s sparkling bay, known for snorkeling and calm waters. It is the perfect place to read and enjoy morning coffee. The apartment’s tiled finish lends a rustic charm to the space; especially the kitchen, which is well equipped with appliances like a gas stove, oven and refrigerator. If your guests need help with anything, the building’s front desk is always available to answer questions.

Akumal is a hidden gem in the Riviera Maya and is revered for epic snorkeling spots and small town charm. You’ll find everything you need in town and the larger communities of Playa del Carmen and Tulum are each just 45 minutes away. The Riviera Maya has become one of the most popular vacation destinations in the world attracting more tourists year after year.

This is an excellent opportunity to for a desirable vacation rental or amazing home for your family.

Contact our agents for more information today.