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27Jan/15Off

The Definitive Guide to Buying Affordable Condos

Real EstateMexico, with a staggering 112 million people, boasts the second largest economy in Central America. Predictably, it could rank 5th largest worldwide by 2050. The country is as diverse as its landscape. It’s numbered among 18 mega- diverse nations and home to twelve percent of the earth’s biodiversity.

The white sandy beaches coupled with ruins of medieval empires, including tantalizing coral reefs along Playa Del Carmen attracts about 20 million visitors annually. Of these, a sizable percentage constitutes second home owners. Property owners here with huge rental market tap in to this stream of visitors. A proposal aimed at permitting direct ownership of sea-front property is spurring interest here in Playa Del Carmen real estate market.

Prime quality condos for sale playa Del Carmen are available in and around the resort city of Playa Del Carmen. Because of the proximity with the US, most buyers here come from North America and other parts of the world. As specialist realtors in luxurious property in Playa Del Carmen, we can link you up with prime land for sale or with the finest residential playa Del Carmen real estate property on our listings. We provide unrivalled insight into the local property market like no other.

Prices of property here in Playa Del Carmen and generally in Mexico are slowly picking up. Awesome designed 3 bedroom residential homes are sold completely furnished. Every unit is luxuriously fitted with a fully sized pavilion, Jacuzzi and standard private pools. Every real estate playa Del Carmen property is defined by unique personalized service, and owners benefit from proximity to 5 star hotel amenities, lush green golf courses, and spectacular white-sand beach lines as well as a concierge.

When potential investors, foreign and local, come to Playa Del Carmen with intent of acquiring property, it’s paramount that they get in touch with legit property consultants. What’s true, however, is that as from the year 1995, Mexican Constitution allowed foreign investors to purchase and dispose property in Mexico.

It is still the case now and you can do so through Direct Property Deeds, which guarantees you absolute ownership. What this implies is that your home or land or both cannot be re-possessed by the government.

Different set of rules apply to property ownership along the entire Mexican coastal strip. Foreign buyers may own property within 60 miles off the territorial borders and 30 miles from the sea shore line. This is done through what is known as ‘fideicomiso’, which is basically a trust that was put in place through local banks.

The bank would hold the deed on behalf of a buyer, although the buyer retains all ownership rights. Each trust spans 50 years and can be renewed thereafter. It should be clear that the bank does not consider the property as part of its assets. The owner is at liberty to develop, rent, renovate or allow their heir to inherit it.

Most people conduct land transactions in cash, however, both foreign and Mexican banks offer financing to real estate developers. Common trend here is that foreign financial institutions tend to offer low interest rates compared to their local counterparts.

 

Contact us at:

Company Name: Homes for Sale Playa del Carmen
Country: Mexico
State: Quintana Roo
City: Playa del Carmen
Zip: 77710
Phone: 52-1-984-146-9508

 

 

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