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 | Tropic Playa 3 | Condo for sale in Playa Del Carmen

Tropic Playa 3

Condo for sale near the beach and 5th Avenue This condo features a…

1Beds 1Baths $159,900USD

$159,900 USD
$2,743,884 MXP
Estimate only. Updated Daily.

Mike Fanelli

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Sale Pending

Property Description

Tipo de Propiedad: Condo
Estatus: Sale Pending
Localidad: Playa Del Carmen
Tamaño de la Propiedad: 70 sq. mt.
Tamaño del Lote: 220 sq. mt.
Propiedad ID: 542618754
Hab.: 1
Baños: 1

Condo for sale near the beach and 5th Avenue

This condo features an unbeatable location just north of the downtown area in Playa del Carmen’s popular Coco Beach neighborhood. With easy access to the gorgeous white sandy beaches and sweeping Caribbean Sea views, this neighborhood offers an enviable beach lifestyle. This is one of the best locations in the city and attracts a steady stream of vacation renters, guaranteeing its constant rental occupancy and ensuring a healthy return on your investment for many years to come.

Ideal for singles or couples, this 1-bedroom, 1-bath condo has everything you could want in a vacation home or a year-round residence. It features an open floor plan and gets tons of Caribbean sunshine. It has a peninsula kitchen with a breakfast bar and premium appliances. The living room opens out onto a covered balcony with city views, perfect for enjoying your morning coffee and breakfast or an evening glass of wine. The bedroom has lots of closet space, a private balcony, and a luxurious full bath. This condo has marble floors and top-quality finishes that are durable and easy to maintain. It is being offered for sale unfurnished but equipped with ceiling fans and air conditioning.

You and your guests will love the sunny rooftop terrace with a pool, a sunbathing area, and a gym. The condo building is safe and secure with controlled access and security cameras. It has a laundry room, an elevator, and underground parking. This area also offers reliable, high-speed internet access.

This Coco Beach condo is perfect for vacation rentals or as your own home in paradise. Contact one of our friendly and knowledgeable agents today for more information.