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 | Las Olas | Condo for sale in Playa Del Carmen

Las Olas

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

2Beds 2Baths $255,000USD

$255,000 USD
$4,332,450 MXP
Estimate only. Updated Daily.

Danielle Knod

Request more information

For Sale

Property Description

Property Type: Condo
Status: For Sale
Location: Playa Del Carmen
Property ID: 514797557
Beds: 2
Baths: 2

Beautiful condo for sale steps to the beach

This luxury condo features an unbeatable location in the Mamita’s beach area in the heart of Playa del Carmen. It is just one block from world-famous 5th Avenue and steps to the beach. This is one of the best locations in the city and attracts a steady stream of vacation renters. You and 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 area of Playa del Carmen offers reliable, high-speed internet access, so you can easily stay connected.

This updated 2-bedroom, 2-bath condo features a spacious open layout with a light filled living room, a dining area, a laundry room, and a fully equipped kitchen with a breakfast bar, wine storage and wood cabinets. The main living space and master bedroom open out onto a covered terrace with street views. This is a lovely spot to enjoy coffee in the morning or an evening glass of wine. This condo is beautifully maintained with tile floors and top-quality finishes. Plenty of kitchen storage space and built-in closets in the bedrooms make this space comfortable for everyday living and a breeze for your vacation guests. It is being offered for sale fully furnished and ready for you to make it your own.

Perfect for people who want a Caribbean getaway for vacations, or even to retire to, this condo will bring many years of personal enjoyment while providing an excellent income if used as a vacation rental. Contact one of our friendly and knowledgeable agents today for more information.