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 | Tohoku Interior- Fixer Upper | House for sale in Playa Del Carmen

Tohoku Interior- Fixer Upper

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

5Beds 4Baths $370,000USD

$370,000 USD
$7,548,000 MXP
Estimate only. Updated Daily.

Sarah Fouts

Request more information

For Sale

Property Description

Property Type: House
Status: For Sale
Property Status Re-sale
Location: Playa Del Carmen
Property Size: 190 M2
Lot Size: 151.87 M2
Property ID: 603723073
Beds: 5
Baths: 4

Fixer-Upper Home for Sale Close to the Beach

If you’ve been thinking about buying a property in Playa del Carmen to fix up or rehab, this 2-story home could be exactly what you’re looking for. It features an unbeatable location in the small gated community of Tohoku in the heart of downtown Playa del Carmen. This quiet area is just minutes from the gorgeous white sandy beaches and all the excitement of world-famous 5th Avenue.

This particular property, given its location, has huge potential. It boasts 5 bedrooms, 4 baths, high ceilings in the living room, and a fenced-in yard. It comes unfurnished and unequipped, except for ceiling fans and air conditioning. The property is in need of some TLC, but when it is done, you’ll have a unique home to enjoy personally or to use as an income-producing vacation rental.

-Cable Available

-Pets Allowed

-Parking

-Security

This is a fantastic opportunity for someone looking for a real estate project with a great return. Contact one of our friendly agents today to find out more.