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 Real Estate | Mamitas Village | Condo for sale in Playa Del Carmen

Mamitas Village

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

2Beds 2Baths $390,000USD

$390,000 USD
$7,737,600 MXP
Estimate only. Updated Daily.

Sarah Fouts

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For Sale

Property Description

Property Type: Condo
Status: For Sale
Location: Playa Del Carmen
Lot Size: 122 sq. m. "plus 117 sq.mt. of terrace and solarium"
Property ID: 190043211
Beds: 2
Baths: 2

Penthouse For Sale Steps From the Beach

This condo is an exquisitely-designed modern penthouse, located in one of the most desirable areas of Playa del Carmen - Mamitas Beach.

This stylish penthouse has 2 bedrooms and 2.5 bathrooms as well as partial ocean-view from the terrace and rooftop area. Combined with its fantastic location of being just steps from both Mamitas Beach and the famous 5th Avenue, this condo has to be one of the most desirable residences in Playa.

The master bedroom and second bedroom offer an ensuite bath and access to balcony and terrace. Both master bedroom and guest bedroom have a King sized bed making this home perfect for 2 to 4 people. The living space offers a guest bath, outdoor jungle view as well as partial ocean view terrace, a complete dinning table, a comfortable relaxing living room, fully equipped kitchen with modern stainless steel appliances, and air conditioning throughout the unit.

The rooftop area has been perfectly thought to relax and enjoy a perfect day in paradise with a hanging bed, sitting, and sun area. A bbq on this gorgeous rooftop with friends and family can only be a prefect end to a perfect day!

Contact our agents today for more information!