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 | Peregrina PH | Condo for sale in Playa Del Carmen

Peregrina PH

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

3Beds 3Baths $350,000USD

$350,000 USD
$5,946,500 MXP
Estimate only. Updated Daily.

Marieke Brown

Request more information

For Sale

Property Description

Property Type: Condo
Status: For Sale
Location: Playa Del Carmen
Property Size: 195 sq. mt.
Property ID: 360739842
Beds: 3
Baths: 3

Incredible downtown penthouse with private rooftop

You just can’t get more centrally located than this gorgeous penthouse in the heart of downtown. It features an unbeatable location on the corner of 20th Avenue and 24th Street, just three short blocks from Playa del Carmen’s world-famous 5th Avenue and another minute to the beach. This is one of the best locations in the city and attracts a steady stream of vacation renters. It’s also within easy walking distance of many of Playa’s best restaurants, beach clubs, and the Cozumel ferry.

This luxurious 3 bedroom 3 bath penthouse is perfect for use as a vacation rental or as your own home in paradise. It has a full kitchen with a breakfast bar and granite countertops, and a combined living and dining area that opens out to a private balcony overlooking the pool. The bedrooms open out to a second private balcony with street views. Upstairs you’ll find a studio-style unit with an independent entrance and a large private rooftop terrace with a pergola and plenty of outdoor seating, perfect for a barbecue with friends and family or for your morning coffee and breakfast.

The condo building sits right across the street from the popular Choux Choux Cafe. Your guests will delight in the ease and convenience of this prime downtown location, guaranteeing its constant rental occupancy and ensuring a healthy return on your investment for many years to come.

The building is also close to public transportation stops, grocery stores, restaurants, pharmacies, medical services and more, making it ideal for everyday living and a breeze for your vacation guests.

This beautiful penthouse is being offered for sale fully furnished and move-in ready. The sale includes reserved parking for one vehicle. Contact one of our friendly agents today for more information about this vacation condo for sale near 5th Avenue and the beach in Playa del Carmen.

Amenities

Interior features/finishes

Ceiling Fan
Laundry Room

View

Street

Cooling

3+ Mini Splits

Lot Features

Corner Lot
Garden Area
Landscaped
Lawn
Patio
Rooftop
Swimming Pool
Terrace

Appliances

Freezer
Microwave
Refrigerator
Refrigerator - Bar
Safe
Stove
Washer

Extra Features

Fiber Optic Internet
Furnished
Rooftop
Security
Storm Shutters (Manual)
Walk-in Closets
Pets Allowed (for Owners Only)

Parking Spaces

Year Built

2008

HOA Fees

$190 USD

Taxes

$295 USD

Map

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Playa Del Carmen and Tulum Mexico Real Estate | Peregrina PH | Condo for sale in Playa Del Carmen

Peregrina PH