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 | Puerto Aventuras Ocean Front Fixer upper | House for sale in Puerto Aventuras

Puerto Aventuras Ocean Front Fixer upper

Puerto Aventuras (Puerto Aventuras, Quintana Roo, Mexico)…

3Beds 3Baths $1,050,000USD

$1,050,000 USD
$21,420,000 MXP
Estimate only. Updated Daily.

Marieke Brown

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Sold

Property Description

Property Type: House
Status: Sold
Property Status Re-sale
Location: Puerto Aventuras
Property Size: 325.16 M2
Lot Size: 12 M x 50 M
Property ID: 590811936
Beds: 3
Baths: 3

Oceanfront fixer-upper with excellent amenities

If you’ve been thinking about buying an oceanfront property to fix up, this 2-story home could be exactly what you’re looking for. It features an unbeatable location in the exclusive, gated residential resort community of Puerto Aventuras. Enjoy golf, tennis, sailing, yoga, snorkeling, and scuba diving, as well as access to world-class deep-sea fishing and water sports, all just steps from your door in this oceanfront home. Puerto Aventuras is very much a community for couples or families—most of the restaurants close at 10pm and there are strict noise ordinances after 11pm.

This spacious 4-bedroom fixer upper, given its prime oceanfront location, has huge potential. It offers 3,500 square feet of living space and a large outdoor patio area. The house currently has 3 habitable bedrooms, each with a private bathroom, that come furnished and equipped. It also has 2 more potential bedrooms and an area for a kitchen and living room to renovate. It requires some TLC, but when it is done, you’ll have a personalized home to enjoy personally.

The complex is fully walled-in and gated, offering a wonderful sense of security and privacy. The covered terraces and pool areas offer spectacular ocean views and tons of outdoor living space. There is a purpose-built sandy beach area with lounge chairs, a palapa with hammocks, a shallow wading pool, and landscaped gardens.

Puerto Aventuras is nestled in the heart of the Riviera Maya, about halfway between Playa del Carmen and Tulum and just over an hour drive from Cancun International Airport. Enjoy all the Riviera Maya has to offer; just a short drive to either Tulum, famous for its miles of pristine white sand beach next to ancient Mayan ruins, or the bustling seaside world class tourist destination of Playa del Carmen, well-known for fantastic shopping, international cuisine, and exciting nightlife.

This is a fantastic opportunity for someone looking for a real estate project. Must be for a full time home, or an exclusive vacation home for owner use only. Not for use as a vacation rental. Contact one of our friendly and knowledgeable agents today for more information.