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 | The City PH | Condo for sale in Playa Del Carmen

The City PH

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

2Beds 3Baths $349,900USD

$349,900 USD
$6,991,002 MXP
Estimate only. Updated Daily.

Rob Kinnon

Request more information

For Sale

Property Description

Property Type: Condo
Status: For Sale
Location: Playa Del Carmen
Property Size: 97.45 sq. mt. + 9.94 sq. mt. terrace + 68.95 sq. mt. roof garden
Property ID: 332210789
Beds: 2
Baths: 3

Resort-style living in downtown Playa del Carmen

This superb two-story penthouse at Menesse “The City” is perfect for people who love city living but also crave the amenities of a luxury resort. It features a prime downtown location in Playa del Carmen, just a few short blocks from 5th Avenue and another minute to the beach. It’s perfectly situated to take advantage of the Riviera Maya’s many attractions, and popular beach clubs, restaurants, and the Cozumel ferry are all just a short walk away.

This spacious 2 bedroom 3 bath residence is offered for sale furnished and ready for you to make it your own. It has a fully equipped kitchen with an island, a laundry room, ceiling fans, three air conditioning units, and large floor-to-ceiling windows that let in plenty of natural light. The floor plan is open with the dining and living areas opening out to a private balcony. The kitchen and bathroom are finished with top quality materials that are durable and easy to maintain. This beautiful penthouse also features a large rooftop terrace that you and your guests are sure to love.

Menesse “The City” offers a full range of resort-style amenities, including an amazing skybar with a lounge area and rooftop pools for both children and adults-only, a covered cinema, a kids club, and a fitness center with a steam room, wet areas and a sauna. The building also has a hotel-like lobby, elevator access, secure underground parking and 24-hour security.

The residences at Menesse “The City” are conveniently located close to public transportation, grocery stores, pharmacies, medical services and more, making year-round living a breeze for those who choose to use their condo as a full-time residence or even to retire to.

Whether you’re searching for a vacation home or a permanent residence, this penthouse will bring many years of personal enjoyment while providing an excellent income if used as a vacation rental. Contact one of our friendly agents today for more information or to schedule a showing.