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 | Legacy by AWA 1 bed | Condo for sale in Playa Del Carmen

Legacy by AWA 1 bed

Playacar Phase 2(Playa del Carmen, Quintana Roo, Mexico, 77710)…

1Beds 1Baths $253,280USD

$253,280 USD
$5,139,051 MXP
Estimate only. Updated Daily.

Sarah Fouts

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For Sale

Property Description

Property Type: Condo
Status: For Sale
Property Status New-construction
Location: Playa Del Carmen
Property Size: 59.33 M2
Property ID: 603722978
Beds: 1
Baths: 1

New luxury condos with resort-style amenities

Legacy by Awa is an exciting new luxury condominium project located in the exclusive gated golf course community of Playacar. With easy access to the gorgeous white sandy beaches and sweeping Caribbean Sea views, this neighborhood offers an enviable beach lifestyle. This quiet area is just minutes from 5th Avenue and close to all the goods and services of town. It is just steps from shopping, dining, nightlife, and all the fun and sun that make Playa del Carmen a world-famous tourist destination.

These beautiful new 1- and 2-bedroom condos and penthouses are perfect for vacation rentals or as your own home in paradise. They feature a spacious open layout with high ceilings and window walls that let in tons of Caribbean sunshine. All of the modern residences have an equipped kitchen and a sun-filled living room and dining area that opens out onto a single or double terrace with pool and garden views. This is a lovely spot to enjoy your morning coffee and breakfast or an evening glass of wine. 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 ceiling fans and air conditioning.

This new development offers first class amenities, including a huge resort-style pool and sundeck, a gym, a wellness spa, a co-working space, a lounge bar, garden areas, and more. The complex is safe and secure with controlled access and 24-hour security. It has a hotel-like lobby and parking. Playacar residents also enjoy privileged access to beach clubs and discounts at the golf course.

These condos will bring many years of personal enjoyment while providing an excellent income if used for vacation rentals. Delivery is scheduled for 2027. Pre-construction prices are subject to availability and are time sensitive. For current pricing availability contact one of our friendly agents today.