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 | Marea 34 | Condo for sale in Playa Del Carmen

Marea 34

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

2Beds 2Baths $295,000USD

$295,000 USD
$5,967,850 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: 130 sq. mt.
Property ID: 489735249
Beds: 2
Baths: 2

Condo for sale near the beach and 5th Avenue

You just can’t get more centrally located than this beautiful condo for sale at Marea 34. It is ideally located just two blocks from 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. You and 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.

This gorgeous 2-bedroom, 2-bath condo is expansive and luxurious with cathedral ceilings and a large balcony with city views. It has a spacious open layout and gets tons of Caribbean sunshine. It has a full kitchen with premium appliances, a dining table for six, a light-filled living room with a sectional sofa and a laundry room. This condo is beautifully maintained with tile floors and top-quality finishes. It is being offered for sale fully furnished and equipped with all the practical amenities that you would expect, including ceiling fans, air conditioning, storm shutters and a washer and dryer.

Owners and guests will be able to enjoy access to the incredible rooftop terrace with a swimming pool, a sundeck and a small gym with a treadmill, stationary bike and an elliptical machine. The condo building is safe and secure with gated entry, 24-hour security and garage parking. It sits directly across the street from a multi-sport complex with a running track, basketball courts and more.

This downtown Playa del Carmen condo offers excellent amenities and a fantastic location at a good price. Contact one of our friendly and knowledgeable agents today for more information.