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 Residencia 1 Bedroom | Condo for sale in Playa Del Carmen

La Residencia 1 Bedroom

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

1Beds 1Baths $210,000USD

$210,000 USD
$4,265,100 MXP
Estimate only. Updated Daily.

Danielle Knod

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For Sale

Property Description

Property Type: Condo
Status: For Sale
Property Status New-construction
Location: Playa Del Carmen
Property Size: 39 - 53 sq. mt.
Property ID: 406651919
Beds: 1
Baths: 1

La Residencia – The Newest Condo-Hotel Option In Playa del Carmen

Thoughtfully designed to maximize comfort and efficiency, La Residencia is the newest signature architecture building, from Alejandro Alarcón Fierro, the architect responsible for Playa del Carmen’s popular boutique hotel, Reina Roja. Owners and guests will enjoy a stylish reception area, underground parking and a uniquely designed elevator that accesses the chic sky lounge with 2 swimming pools, living and dining spaces all with views out to the Caribbean.

Each unit will be uniquely designed with signature art pieces and wall to ceiling mirrors to make the apartments feel even more spacious. Custom designed furniture, kitchen cabinets, closets, doors and floors have all been manufactured by hand from durable and renewable regional woods, like machiche, tzalam, catalox, and okume. The kitchen features granite countertops and top-quality appliances. The bathrooms are finished with high quality porcelain and Helvex fixtures. Each unit will be fitted with anti-cyclonic aluminum window frames. Terrace banisters and decorative elements will be made with corrosion proof, anodized aluminum to withstand our tropical elements.

In all of the common areas, including the reception lobby, hallways and sky lounge, beautiful art will be featured. A variety of mediums will be represented including painting, sculpture, photography, sound and video, installations. One of the most important amenities and a hallmark of La Residencia will be the Art Gallery, showcasing a permanent collection as well as temporary expositions. This space will feature pieces from diverse Mexican artists that will be available to purchase.

La Residencia has a privileged location, just one block from the beach at Shangrila and a few steps from 5th Avenue, where luxury hotel rooms are in high demand by both national and international clients. The Lock-Off Boutique Studios of La Residencia enhance your investment by allowing you to rent both units at optimal hotel rates. Our lock off system allows your one bedroom residence to become two independent studio apartments. With our double door system, you can rent the main living area equipped with a complete bathroom, kitchen and a sofa bed as well as the bedroom with its independent bathroom and efficiency “Smart Kitchen” with all the necessary appliances.

You and your guests will certainly enjoy the fantastic location La Residencia has to offer! Just steps away from Shangrila Beach, you can spend countless hours, lounging in the sun, swimming or paddle boarding. Should you desire, some of Playa’s hottest beach clubs like Canibal Royal, Coralina, Kool and Mamita’s are within an easy walk. In the evenings, stroll down Playa del Carmen’s famous 5th Avenue, the place to go for shopping, people watching and savoring all the culinary delights that this diverse region has to offer.

Contact our agents today to discuss payment options and potential ROI.