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 | El Faro Reef | Condo for sale in Playa Del Carmen

El Faro Reef

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

3Beds 3Baths $1,300,000USD

$1,300,000 USD
$26,403,000 MXP
Estimate only. Updated Daily.

Sarah Fouts

Request more information

For Sale

Property Description

Property Type: Condo
Status: For Sale
Property Status Re-sale
Location: Playa Del Carmen
Property Size: 278 sq. mt.
Property ID: 517369859
Beds: 3
Baths: 3

Gorgeous beachfront penthouse for sale in Playa del Carmen

This superb oceanfront penthouse condo is located right on the beach in the heart of downtown Playa del Carmen. It is just a few steps from all the excitement of world-famous 5th Avenue. 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, guaranteeing its constant rental occupancy and ensuring a healthy return on your investment for many years to come.

You’ll love the incredible Caribbean Sea views from almost every room of this luxurious penthouse condo. This updated 3-bedroom, 3-bath residence has a fully equipped kitchen with lots of cabinet space and premium appliances, a separate dining area and a light-filled living room that opens out onto a huge rooftop terrace with a jacuzzi and panoramic ocean views. This is a lovely spot to bask in the sun or dine al fresco under the stars. The primary bedroom has walk-in closets, a luxurious bath with a double vanity, and a laundry closet with a washer and dryer. This condo shines with tile floors and top-quality finishes. It is being offered for sale fully furnished and ready for you to make it your own.

El Faro has all the luxuries of resort living with the absolute best Caribbean views. It has a stunning resort-style swimming pool, a palapa bar, a fitness center and pool-side massage service. The condo building is safe and secure with a hotel-like lobby, elevator access and 24-hour security.

If you are interested in vacation rental income potential, you can do no better than a beachfront condominium in Playa del Carmen. Contact one of our friendly and knowledgeable agents today for more information.