Yes! 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.
A Fideicomiso is established by the government and gives foreigners the same rights of ownership as Mexican citizens. The only difference is that they never receive the actual fee simple title. A bank holds it in trust for them. The Trust system of ownership is sanctioned by the Mexican government, provided for under the Mexican Constitution, and secured by the Central Bank of Mexico, all exclusively for the purpose and protection of enabling foreign ownership of coastal property in Mexico.
Alternatively, you may own property by establishing a Mexican corporation. The corporation is the direct owner of the property and enjoys the right to conduct business in Mexico. (Consult your agent and attorney to find out which form is best in your case)
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.
Over the years, we have orchestrated the sales of hundreds pieces of Mexico real estate, representing both Buyers and Sellers as well as developing properties of our own. In that time, we have carefully created a team of trusted attorneys who we recommend to our clients. Each has been chosen for their honesty, integrity, their tenacity and their knowledge of the intricacies of the real estate transaction for foreigners investing Mexico. Our customers have full access to all of their services. We will arrange a meeting early on to insure that you are comfortable with the process and fully understand all of the documentation you are presented with. Just as each BuyPlaya agent adheres to a strict Code of Ethics, our attorneys also have a fiduciary responsibility to you the client. This is a responsibility we take very seriously to minimize any risk and protect you at all times.
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.
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 $100 usd per $100,000 usd of assessed value yearly.
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. If you looking for Professional Property Management Services for your home in Riviera Maya, we can help – contact us.
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 citizens.
The process of buying real estate in Mexico is indeed different than it is in Canada and the United States. That does not mean it has to be difficult or risky. Working exclusively for you, the Buyer, we will insure that your interests are protected and your desires are met.
We believe that each real estate transaction is as unique as each Buyer. Our services are tailored to the specific needs of each client. Our mission is to provide comprehensive Real Estate solutions for our Buyers with the highest degree of trust, knowledge, respect and convenience. We firmly believe that the Buyer has a right to full and equal representation, just as the Seller receives from an Exclusive Listing Agent. As a Buyer, you should insist on undivided loyalty and the protection of your interests. Increasingly, as consumers grow more knowledgeable about the Real Estate industry, they are demanding the level of service that only an Exclusive Buyer Broker is able to provide.
Whether you are in the market for a second home, an income generating property or land for a future development, we will help you to successfully navigate the sometimes complex processes of Real Estate transactions in Mexico. Acting on your behalf, you can rely on us to perform the following functions:
At BuyPlaya, we believe our responsibility to our customer does not end when we hand you the keys. One of the greatest challenges when making an investment in a foreign area is finding dependable, trustworthy and capable professionals with whom to conduct business. In order to provide the very highest level of service to our clients, we have carefully compiled a list of service providers who we trust and personally recommend. As a BuyPlaya client, you will have access to a list of local experts that has taken us years to build.
We know the best service providers in the region and are happy to arrange a consultation.
Property Management services and fees can vary greatly. So can the level of service you receive! Choosing the right Property Management Company can mean the difference between an excellent 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 Managment 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.
Are you looking for Professional Property Managment Services for your property in Riviera Maya? Contact us and provide us with as much information as you can. We will promptly process your request and connect you with one of our trusted associates.