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 | Spirit 1904 Studio | Condo for sale in Playa Del Carmen

Spirit 1904 Studio

Colosio(Playa del Carmen, Quintana Roo, Mexico, 77710)…

1Beds 1Baths $168,125USD

$168,125 USD
$3,367,544 MXP
Estimate only. Updated Daily.

Marieke Brown

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For Sale

Property Description

Property Type: Condo
Status: For Sale
Property Status New-construction
Location: Playa Del Carmen
Property Size: 37.79 M2
Property ID: 603722988
Beds: 1
Beds Info: Studio
Baths: 1

New condos for sale near the beach and 5th Avenue

Spirit Condos is an exciting new turnkey condominium project with an unbeatable location in the new Emerald Zone of Playa del Carmen. The complex features 25 condos and a rooftop full of amenities. It is situated just two blocks from 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, guaranteeing its constant rental occupancy and ensuring a healthy return on your investment for many years to come.

These new studios and 1- and 2-bedroom condos are perfect for vacation rentals or as your own home in paradise. They offer different layouts and options to suit your needs, including lock-off options for additional occupancy and earning potential. All of the modern residences have a kitchen with a breakfast bar, a comfortable living and dining area, and a private balcony or terrace. They are designed in a beautiful rustic style with textured walls and premium quality natural elements in the equipment and finishes. These condos come equipped with ceiling fans, air conditioning, lighting, home appliances, linens, and utensils. They are being offered for sale fully furnished and ready to move in or rent out.

You and your guests will love the incredible rooftop with an infinity pool, a sunbathing area, a terrace bar, and a grill area for your al fresco cookouts. The complex is safe and secure with controlled access and 24-hour security. It has a hotel-like lobby, a coffee shop, and a gym on the ground floor, as well as an elevator and underground parking. This area also offers reliable high-speed internet access.

These condos offer excellent amenities and a fantastic location at a good price. Delivery is scheduled for 2024. Contact one of our friendly and knowledgeable agents today for more information.