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 | La Papaya 2 Bedrooms | Condo for sale in Playa Del Carmen

La Papaya 2 Bedrooms

Centro (Playa del Carmen, Quintana Roo, Mexico, 77712)…

2Beds 2.5Baths $219,500USD

$219,500 USD
$4,495,360 MXP
Estimate only. Updated Daily.

Danielle Knod

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Sale Pending

Property Description

Tipo de Propiedad: Condo
Estatus: Sale Pending
Property Status Re-sale
Localidad: Playa Del Carmen
Tamaño de la Propiedad: 102 m2
Propiedad ID: 550960801
Hab.: 2
Baños: 2.5
Información adicional sobre baños: 2 full one half bath

Updated condo for sale near the beach and 5th Avenue

You just can’t get more centrally located than this beautiful condo for sale in the heart of Playa del Carmen. It is situated just three 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. 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 bright and cheerful 2-bedroom, 2.5-bath condo is perfect for vacation rentals or as your own home in paradise. It features a spacious open-plan layout with a sun-filled living room, a dining area, and a balcony. It has a fully equipped kitchen with a breakfast bar, brand new cabinets, and all new stainless appliances. The master bedroom has a private balcony, a wall-to-wall unit with TV and closet space, and a luxurious en suite bath. This condo has undergone substantial renovations, including bathroom and lighting upgrades, travertine marble floor resurfacing, balcony patio tile surfacing, new upgraded window blinds, and new sliding patio doors. It is being offered for sale fully furnished and equipped with a washer and dryer, all new ceiling fans, and 3 brand new YORK air conditioning units.

The Papaya building has a community pool and a sundeck with lounge chairs on the ground floor. The complex is safe and secure with controlled access and 24-hour security. It also has a lobby area and assigned underground parking and storage bodegas for each apartment.

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.