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 | Terrazas Lock Off | Condo for sale in Playa Del Carmen

Terrazas Lock Off

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

3Beds 3Baths $659,000USD

$659,000 USD
$13,278,850 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
Lot Size: 185 sq. m.
Property ID: 400266870
Beds: 3
Baths: 3

Jungle View Condominium For Sale in Trendy Area

This spectacular 3 bedroom condominium is located on the garden level of the new residential development from one of our favorite developers. It is meticulously laid out and immaculately finished to appeal to the most savvy investor and vacation home owner. Its lock off unit can be used as an independent vacation rental, or simply adding an extra bedroom for your guests and family. The complex easily distinguishes itself by its remarkable stepped back design showcasing 4 floors of spacious condos each featuring an enormous terrace. If you love the idea of "indoor-outdoor living, this is the place for you. The large and speacious terrace not only features a beautiful brand new spa, but also a stunning a tranquil jungle view. The complex is built in the most exclusive and beautiful areas of Playa del Carmen, a neighborhood known appropriately as Shangri-la. In this area you will find fantastic beach clubs as well as a wide variety of restaurants, boutiques, cafes, yoga studios, fitness gyms and many services.

If you are familiar with Playa del Carmen then you know how beautiful this area of town is. The street is lined with enormous shade trees and palms and has maintained much of the feel of "Old Playa". It is not uncommon to have a visit from the resident spider monkeys while dining up the street at Cueva del Chango. In respect to the ecology and the environment, the developer plans to preserve as much of the natural vegetation as possible surrounding the complex.

With jungle all around, the beach and the cool Caribbean just steps away, this is absolutely becoming one of the most sought after vacation destinations in the city. With its unbeatable location, dramatic design, top of line finishes and secure entry this new development manages the perfect balance of comfort, technology and absolute luxury.

What was once a tiny fishing village on a beach dotted with coconut trees has exploded into one of the hottest tourist destination in the world. This magical little city on the Mexican Caribbean renowned for its incredible beauty is at once cosmopolitan and bohemian, has been attracting all kinds of people from all across the globe for over 2 decades. Don't miss your opportunity!

The condominium itself as well as the complex, is wheelchair accessible.

Contact our agents today for more information!