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 | 953 Studio | Condo for sale in Playa Del Carmen

953 Studio

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

1Beds 1Baths $72,000USD

$72,000 USD
$1,735,920 MXP
Estimate only. Updated Daily.

Carlos MartÃnez

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For Sale

Property Description

Property Type: Condo
Status: For Sale
Location: Playa Del Carmen
Property Size: 40 - 112 sq. mt.
Property ID: 265720493
Beds: 1
Beds Info: Lofts, Apartments and PH
Baths: 1

953Studio – Affordable Stylish Living in Playa del Carmen

Are you looking for a residence in Playa del Carmen that is fresh and modern, in a good area within walking distance to 5th Avenue and the beach yet is still affordable? 953Studio may be the option you have been hoping for.

Situated on Av. 95 between Avenida Juarez and the Arco Vial, 953Studio is conveniently located within a short walk of public transportation stops, major grocery stores, dozens of restaurants and a multi-sport complex with running tracks, tennis courts and more. These apartments are a short bike ride away from the Centro Maya mall, gym, movie theatre, the ferry dock, Playa’s iconic Parque la Ceiba, 5th Avenue and the beach! Ideal for singles or couples these well-designed lofts and apartments have been efficiently designed to maximize space and promote a modern-minimalist lifestyle.

In total there will be 11 loft style studios and 18 1-bedroom apartments, each with a private terrace. There are 6 1-bedroom penthouse units, each with a private solarium with pergola, small private plunge pool, living and dining area and a service room. The remaining units will have access via elevator to a common rooftop area with a pool, plenty of lounge space, a bar and bathrooms with showers. Downstairs, there will be underground parking with controlled access for owners, a full service gym and a lovely café with outdoor seating on the first floor.

Studios, apartments and penthouses will be sold equipped with closets, ceiling fans and mini-split AC units, kitchen cabinets and a stove with oven. Prices range from 850,000 MXN to 1,600,000 MXN. 3,5 and 7 year financing is available direct through the developer. Contact us today to investigate the payment options.