Buying an apartment/house in Cancun

Those who want to live in this beautiful region of Mexico, has a large selection of different houses, villas and flats and apartments.

The process and costs

The contract must be signed Using a notary and requires in addition a registration in the land register.

You should select the notary for safety's sake.

Important: even if a relaxation of the laws is currently planned, if you want to purchase
a property, of less or up to 50 kilometers away from or less then 100 km from the border, a bank has to be involved via a bank trust (called: "Fideicomiso"). Because direct holdings in these areas are still prohibited for foreigners.

For those interested in community association are, i.e. , row houses, house complexes, etc., will be house owner at the time of purchase (estate in severalty) as well as co-owner of the community property, e.g. pool, gardens, etc.

Furniture and everything else can be purchased either directly in Cancun or shipped over sea. It should be ensured that documentation and tax papers about all are brought for all furniture otherwise you might run in problems with the customs and taxes.

The price is primarily dependent on the size and the location and and therefore are also very different. Simple apartments and houses usually cost around 20.000-100,000 $ (USD) .

Additional costs that could emerge are the provision of the real estate broker, as well as the costs for the notary (notarization fees) . On the other real estate transfer taxes (stamp duties) must also be paid when you purchase. However when buying land without constructions sales tax fees there don't have to be paid.

In addition, each owner of a property in Cancun has to pay an additional tax once a year, the property tax, called "Predial".
Another point worth mentioning: foreigners usually receive no loans

Buying an apartment/house in Cancun
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