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 | Corazon de Playa 2 bed lock off | Condo for sale in Playa Del Carmen

Corazon de Playa 2 bed lock off

Gonzalo Guerrero (Playa del Carmen, Quintana Roo, Mexico 77710)…

2Beds 2Baths $341,000USD

$341,000 USD
$6,946,170 MXP
Estimate only. Updated Daily.

Marieke Brown

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For Sale

Property Description

Property Type: Condo
Status: For Sale
Property Status
Location: Playa Del Carmen
Property Size: 69 M2
Property ID: 579514651
Beds: 2
Baths: 2

New condos for sale near the beach and 5th Avenue

Corazon de Playa is a new luxury condominium project located just north of the downtown area in the heart of Playa del Carmen. The complex is situated just a few blocks from world-famous 5th Avenue and another minute to the beach. Many of the city's best restaurants, beach clubs, and the Cozumel ferry are all just a short walk away. This is one of the best locations in the city and attracts a steady stream of vacation renters, ensuring a healthy return on your investment for many years to come.

These beautiful new studios, 1- and 2-bedroom condos offer different layouts and options to suit your needs, including lock-off options for additional occupancy and earning potential. They are designed in a minimalist style with neutral colors and a blend of textures that offer warmth and comfort, including mahogany wood and marble stone. All of the modern residences have a full kitchen, 1–2 full baths, and a private balcony or terrace. The 2- and 3-bedroom units have a kitchen island and a sun-filled living room and dining area. These condos have tile floors and top-quality finishes that are durable and easy to maintain. They are being offered for sale unfurnished but equipped with air conditioning.

This new development features a panoramic rooftop with a pool and an outdoor grill area, a state-of-the-art fitness center, a yoga area, a sauna, and a steam room. The condo building is safe and secure with controlled access and 24-hour security. It has a hotel-like lobby, an elevator, laundry, a bicycle port, a Tesla charging center, a co-working space, and a commercial area on the ground floor. It is located just one block from a multi-sport complex with a running track, basketball courts, and more.

These condos are 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.