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 | El Faro Coral | Condo for sale in Playa Del Carmen

El Faro Coral

Centro (Playa del Carmen, Quintana Roo, MX - 77710) $700,000 USD…

3Beds 2Baths $659,000USD

$659,000 USD
$12,257,400 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
Lot Size: 128 sq. m.
Property ID: 127969647
Beds: 3
Baths: 2

Gorgeous Ocean Front Vacation Condominium for Sale in Playa del Carmen

This beautiful 3 bedroom, bathroom condominium is in one of the truly most fabulous beach locations in downtown Playa del Carmen. Right in the heart of it all, in your own little tranquil oasis on the sparkling white sand of the turquoise Caribbean Sea, this first floor condominium walks out to the sprawling communal pool area and from there to tropical splendor. Located right on the beach, one block from the world famous Fifth Avenue and all the excitement that Playa del Carmen and the Riviera Maya have to offer, you and your vacation guests couldn't ask for more entertainment!

With 3 spacious bedrooms, each with plenty of closet space you and your guests will have the necessary amount of space and privacy to be comfortable and truly enjoy your vacations. The master bedroom has en suite bathroom and walks out to the patio overlooking the ocean and pool area. Also with pool and ocean view the spacious living area is open plan with the dinning area and the kitchen has a breakfast bar separating it from the rest of the social area of this luxurious condominium.

The design of this condominium makes it ideal for use as a vacation rental or as a full time residence, the choice is yours; how long would you like to stay in paradise??

Contact our agents for more information about this fabulous offer!