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 | Paraiso Mágico 2 Bedrooms | Condo for sale in Playa Del Carmen

Paraiso Mágico 2 Bedrooms

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

2Beds 2Baths $230,000USD

$230,000 USD
$3,907,700 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
Property Size: 106.3 sq. mt.
Property ID: 546255154
Beds: 2
Baths: 2

Condo for sale near the beach and 5th Avenue

This vacation condo for sale at Paraiso Magico boasts an unbeatable location in the heart of Playa del Carmen. The condo building is located just a few blocks from world-famous 5th Avenue and another minute to the beach. Many of the city's best restaurants, beach clubs, and the Cozumel ferry are all just a short walk away. This is one of the best locations in the city and attracts a steady stream of vacation renters, ensuring a healthy return on your investment for many years to come.

This bright and airy 2-bedroom, 2-bath condo is perfect for vacation rentals or as your own home in paradise. It has windows in every room that let in lots of natural light and allow for good airflow. It features a spacious open floor plan with a peninsula kitchen, a nicely furnished living and dining area, and a laundry room with a washing machine. The living room opens out onto a private balcony with city views, perfect for enjoying your morning coffee and breakfast or an evening glass of wine. This condo has tile floors and top-quality finishes that are durable and easy to maintain. It is being offered for sale fully furnished and equipped with air conditioning and closets in the bedrooms.

The condo building features a sunny rooftop terrace with a pool and sunbathing area. It has a gym, a furnished lobby, an elevator, and a commercial area with shops and restaurants on the ground floor. It is close to public transportation stops, supermarkets, and a multi-sport complex with a running track, basketball courts, and more. This area also offers reliable, high-speed Internet access.

This condo is perfect for people who want an affordable apartment or a profitable vacation rental close to the beach. Contact one of our friendly and knowledgeable agents today for more information.