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 | La Papaya Condos | Condo for sale in Playa Del Carmen

La Papaya Condos

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

3Beds 3Baths $299,000USD

$299,000 USD
$5,941,130 MXP
Estimate only. Updated Daily.

Rob Kinnon

Request more information

For Sale

Property Description

Property Type: Condo
Status: For Sale
Location: Playa Del Carmen
Lot Size: 2,400 sq. ft. "1200 sqft interior & 1200 sqft exterior"
Property ID: 141403689
Beds: 3
Baths: 3

Modern Penthouse Downtown Playa Del Carmen

This beautiful modern 3 bedroom condominium is located in the heart of Playa del Carmen. As part of an exclusive development containing only 14 condos and 5 deluxe condominium suites, this penthouse is a Playa del Carmen dream come true. 2 blocks from grocery stores and services, 3 blocks from the world famous 5th avenue, and a short only a quick walk to the beautiful white sand beaches of Playa del Carmen and the exclusive beach clubs teeming with vacationers from all corners of the globe.

This condominium is perfect for use as a vacation rental or as a full time residence. With its convenient location you and your guests will enjoy the freedom of walking and riding bike to all of your favorite Playa del Carmen locations. The open floor plan makes this condominium perfect for entertaining with plenty of room for guests to mingle. Whether you choose to spend the evening relaxing with friends, lounging in the jacuzzi, or having dinner under the stars the private rooftop terrace is soon to be your favorite room of your new condominium in paradise.

Contact our agents for more information on this nicely designed and decorated Penthouse.