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 | Papaya 20/20 | Condo for sale in Playa Del Carmen

Papaya 20/20

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

1Beds 1Baths $240,000USD

$240,000 USD
$4,972,800 MXP
Estimate only. Updated Daily.

Sarah Fouts

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For Sale

Property Description

Property Type: Condo
Status: For Sale
Property Status Re-sale
Location: Playa Del Carmen
Property Size: 85 m2
Property ID: 356922971
Beds: 1
Baths: 1

Turnkey condo for sale in downtown Playa del Carmen

Now for sale at Papaya 20/20, this lovely vacation condo is located just a few blocks from Playa del Carmen’s world-famous 5th Avenue and another minute to the beach. This is one of the best locations in the city and attracts a steady stream of vacation renters. The condo building is located just steps away from public transportation stops, grocery stores, restaurants, pharmacies, medical services and more, making it ideal for everyday living and a breeze for your vacation guests.

This spacious 1 bedroom 1 bath condo is perfect for use as a vacation rental or as your own home in paradise. It has a large living area, a dining table for four, and a full kitchen with premium appliances, including a refrigerator, a dishwasher, a microwave, and a stove with an oven. The floor plan is open with the living and dining areas opening out to your own private balcony. This condo is being offered for sale fully furnished and equipped with ceiling fans, air conditioning and a washer and dryer.

Owners and guests enjoy access to a large rooftop terrace with a swimming pool, sundeck, and outdoor seating, perfect for entertaining guests and dining al fresco under the stars. The condo building is safe and secure with gated entry, 24-hour video security and off-street parking.

Papaya 20/20 offers excellent amenities and a fantastic location at a good price. It is perfect for people who want a Caribbean getaway for vacations, or even to retire to, or a profitable vacation rental in the heart of downtown Playa del Carmen.

This condo is being offered for sale fully furnished and equipped for vacation rentals. The sale includes one reserved off-street parking space. Contact one of our friendly agents today for more information or to schedule a showing.