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 | Singular Joy | Condo for sale in Playa Del Carmen

Singular Joy

Gonzalo Guerrero(Playa del Carmen, Quintana Roo, Mexico, 77710)…

2Beds 2Baths $365,000USD

$365,000 USD
$7,435,050 MXP
Estimate only. Updated Daily.

Marieke Brown

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For Sale

Property Description

Property Type: Condo
Status: For Sale
Property Status Re-sale
Location: Playa Del Carmen
Property Size: 92 M2
Property ID: 603723007
Beds: 2
Baths: 2

Amazing ocean view condo with lock-off option

This turnkey vacation condo features an unbeatable location between 5th Avenue and the beach in the heart of Playa del Carmen. The condo building is just steps from shopping, dining, nightlife, and all the fun and sun that make Playa del Carmen a world-famous tourist destination. This is one of the best locations in the city and attracts a steady stream of vacation renters, guaranteeing its constant rental occupancy and ensuring a healthy return on your investment for many years to come.

This sun-filled 2-bedroom, 2-bath ocean view condo is perfect for people who want a Caribbean getaway for vacations or a profitable vacation rental. It offers an impressive 980 sq. ft. (91 m2) of living space and features a lock-off suite for additional occupancy and earning potential. This spacious corner unit has two king-size bedrooms, two fully equipped kitchens, two living rooms, and two covered terraces. The terrace in the lock-off suite offers spectacular views of the ocean and the Cozumel ferry pier. This condo has tile floors and top-quality finishes that are durable and easy to maintain. It is being offered for sale fully furnished and ready for immediate rental income.

You and your guests will love the incredible ocean view rooftop with an infinity pool and lounge area. At night, you can take in all the stars or even the twinkling lights from Cozumel. The condo building is safe and secure with controlled access and 24-hour security. It has a front desk, a spa, a snack bar, laundry, and parking. This area also offers reliable, high-speed internet access.

If you are interested in vacation rental income potential, you can do no better than an ocean view condo in Playa del Carmen. Contact one of our friendly and knowledgeable agents today for more information.

Amenities

Interior features/finishes

Hot Tub
Laundry Room

View

Downtown
Ocean View

Lot Features

Swimming Pool

Sewer & Water

Public

Appliances

Microwave
Refrigerator
Stove

Extra Features

Balcony
Front Desk
Furnished
Lock Off Bedroom
Lounge area
Parking
Pets Allowed
Roof Terrace
Security
TV Security

Parking Spaces

Year Built

2019

HOA Fees

$6161 MXN monthly

Taxes

$4104 MXN annually

Map

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Playa Del Carmen and Tulum Mexico Real Estate | Singular Joy | Condo for sale in Playa Del Carmen

Singular Joy