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 | Penthouse El Faro, Suite 208 | Condo for sale in Playa Del Carmen

Penthouse El Faro, Suite 208

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

4Beds 3Baths $1,250,000USD

$1,250,000 USD
$24,975,000 MXP
Estimate only. Updated Daily.

Rob Kinnon

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Sold

Property Description

Property Type: Condo
Status: Sold
Location: Playa Del Carmen
Lot Size: 181 sq. m.
Property ID: 86135551
Beds: 4
Baths: 3

Gorgeous Ocean Front Condo For Sale in Playa del Carmen

This beautiful 4 bedroom 3 bathroom ocean front condominium for sale in Playa del Carmen is a rare opportunity! With one of the BEST locations on the beach of the world famous tourist destination: Playa del Carmen, Riviera Maya, Mexico; this incredible ocean front condominium for sale in Playa del Carmen has all the luxuries of resort living with the absolute best Caribbean views and access to shopping, restaurants, nightlife and culture.

You will love the incredible views of the Caribbean Sea from every room of this gorgeous ocean front condo in Playa del Carmen. With space and views to spare entertaining and vacationing is like a cool ocean breeze!! From the spacious wrap around balconies with the added luxury of a jacuzzi style spa tub, to the huge gourmet kitchen; every detail of this fabulous ocean front condo for sale in Playa del Carmen has been planned for maximum comfort.

Each of the four spacious bedrooms has an en suite bathroom and ample storage space. With large closets and built in cabinets you and your guests will have plenty space to spread out and enjoy yourselves! With this superior location right downtown Playa del Carmen on the gorgeous white sand beach rental is guaranteed, making this a fantastic investment opportunity as a vacation rental.

For more information about this incredible ocean front condominium for sale in Playa del Carmen, contact our agents today!!