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 | Elements PH | Condo for sale in Playa Del Carmen

Elements PH

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

3Beds 3Baths $749,000USD

$749,000 USD
$14,957,530 MXP
Estimate only. Updated Daily.

Mike Shopmeyer

Request more information

For Sale

Property Description

Property Type: Condo
Status: For Sale
Location: Playa Del Carmen
Property ID: 241373958
Beds: 3
Baths: 3

Fabulous Penthouse For Sale in Coco Beach!

This luxury oceanview penthouse is located just north of the downtown area along the sparkling white sand beaches of Playa del Carmen. With easy beach access and sweeping views of the brilliantly turquoise Caribbean Sea, this neighborhood offers a beach lifestyle to be envied. Just blocks away from the world famous Fifth Avenue lined with elite shopping, gastronomic adventures and enticing nightlife this area of Playa del Carmen is a popular destination for vacationers and full-time residents as well making it a sound investment for your future.

This fabulous penthouse features 3 bedrooms, 3 baths, a fully equipped kitchen and laundry room with washer and dryer. The floor plan is open with the dining and living areas opening out to a private balcony with stunning views of the Caribbean that will impress you family and guests. You will love the fantastic master bedroom and its spacious private rooftop terrace with its large Jacuzzi!

This condo building is one of Playa del Carmen's most desired properties. A resort like atmosphere with an amazing infinity edge pool and beautiful gardens located no more than 50 meters away from the most tranquil and serene beach in all of Playa. The building boasts a hotel-like lobby with concierge services and professional management and vacation rental services. Above the lobby there is a business center with computer terminals, wireless internet throughout the complex, a gym, rooftop terrace with Jacuzzi and massage tables, all overlooking the enormous infinity edge pool and the Private Beach Club!

This penthouse is offered for sale fully furnished and equipped for immediate occupancy. It has been professionally managed and meticulously maintained and a buyer can be assured that this penthouse will bring many years of personal enjoyment while providing an excellent income from vacation rentals.

Contact our agents today for more information!