Home Investing in Mexico Condo for Sale Mexico: What are the Best Places for Buying a Condo?

Condo for Sale Mexico: What are the Best Places for Buying a Condo?

by Alice Genes

Who has not dreamed of buying a condo in Paradise: a resort in Mexico – Puerto Vallarta, Riviera Nayarita, Cancun, Playa del Carmen, Tulum or Riviera Maya! Canadians are now buying property in Mexico’s Resort areas. Actually, they do it more often than ever. If you are looking for condo for sale in Mexico, you should know that you can purchase one either directly or through a mortgage.

Property prices in the U.S. and Canada have dropped to half the price a few years ago and thus the market is not as active as it used to be. On the other hand, this is not the case in the resorts of Mexico, where foreign purchases and demand continues to grow, primarily when it comes to Canadian investors.

1. What are the requirements for a good condo investment in one of the Mexican resorts? – Investing in expansion and growing areas such as Puerto Vallarta, Riviera Nayarita, Cancun, Playa del Carmen, Tulum or Riviera Maya is essential, as this way your investment will have a great growth potential. This will eventually increase the price of your condo, so you should consider these areas rather than investing in a region where the population is declining or not growing.

2. Explore the possibilities of rental income – the above mentioned areas are areas that have a continuous influx of tourism, and therefore rental opportunities. There are management companies that can help you manage your rental in any of these areas.

3. Learn more about closing costs and hidden fees and do not forget that even if you are not actively present in the life of your condo community, you still have to pay: mortgage, condominium, municipal taxes, air conditioning, electricity, vermin etc.

How to buy a condo in Mexico?

The first thing is to do your homework carefully, starting with a detailed analysis of the market. Next, it is essential to find the right professionals such as notary, lawyer, mortgage broker or real estate agent, who will help you seal the deal safely. When meeting with the agents, don’t forget to ask all the questions you deem necessary about buying real estate in Mexico, real estate contracts, deposits, escrows, mortgage availability, property maintenance and HOA fees, closing costs, property management fees and so on.

Choosing the right area to look for condos for sale

If you do not have a specific region in mind when it comes to buying condos, there are several things you may want to consider and weather should be the first on your list. The upper regions of the country are known for their temperate climate, which translates in cooler weather in the winter months. For those who are looking for a more tropical climate, a condo in the southern part of the country should be the right option. There are several large cities in Mexico for those who are interested in living in a developed urban area. The perks of living in a city are just the same as in the U.S. or Canada, with great restaurants, nightlife and museums.

At the same time, Mexico is home to large tracts of unexplored jungles, scenic outdoors, mountains and rivers and beautiful white beaches. Thus, if you are interested in biodiversity and protected natural parks, Mexico offers jungle retreat condos as well as beachside villas.

One of the regions that are becoming more and more attractive for those looking for property investments in Mexico is Huatulco, with the Oaxaca Rivera being a very popular destination in the area. Huatulco is a resort area near the bay with the same name and it comprises of four parts: Santa Cruz, a town famous for its beach, marina and multitude of hotels, Tangolunda, where most of the upscale resorts can be found, Chahue, the region situated between the aforementioned two and finally La Crucecita, an inland small town with an authentic Mexican ambience.  The area of Huatulco is famous for it’s beautiful isolated beaches and the proximity of lush tropical jungles.

Besides being an ideal location for a vacation in the sun, Huatulco is also a great area for those looking to invest in a Mexican property. The average temperature here is 28ºC (82ºF) and you can enjoy clear days year-round. In addition to the multitude of all inclusive resorts and deluxe hotels, Huatulco features a fishing boat harbour, numerous galleries and shops as well as an 18-hole par 72 golf course, thus being an idyllic option for those peaceful retirement years.

9 comments

Mary Anna Cusick October 26, 2013 - 5:59 pm

If a U.S. Citizen is the owner, how will the income from rental in Mexico be managed to comply with the new 2014 tax laws?

Reply
erinmay October 28, 2013 - 6:20 pm

Hello Mary Anna,

This is a great question. At Own Mexico, we do our best to research and pass along accurate information to our viewers. In this case we recommend consulting a professional when it comes to taxes and tax laws in Mexico. More specifically, an international accountant can provide you with accurate information on tax compliance with your rental income in Mexico as a U.S. citizen.

Thank you for your comment and for your interest in our site. All the best!

Brent May
Cdn cell: 403.615.2885
Mx cell: 958.109.9771

Reply
N. Brown April 27, 2017 - 3:54 pm

We are considering buying a pre-construction condo in Hutulco Mexico, can you tell us what type of costs we are looking at please. We understand there will be maintenance fees & utility bills. What else would we be looking at. We are not thinking of renting the condo, rather, this will be used by us for approx. 5 months each year.
Thank you.

Reply
brentmay May 15, 2017 - 2:05 pm

Hello and thank you for your inquiry. We will send you some information by email shortly.

Reply
Mark Sasseville February 27, 2020 - 9:40 pm

I am doing this now.what is the answer. Thx

Reply
Erin May March 18, 2020 - 12:25 pm

Hey Mark,

The next step would be joining us in paradise if you have already not. If so, let the Bayside Huatulco team assist you in finding the perfect property in Huatulco!

Cheers!

Reply
fast proxy list June 22, 2017 - 2:09 am

Hi there,I check your blog named “Condo for Sale Mexico: What are the Best Places for Buying a Condo? – Own Mexico” daily.Your story-telling style is awesome, keep up the good work! And you can look our website about fast proxy list.

Reply
MaxieX June 24, 2017 - 1:13 am

I must say you have hi quality posts here. Your posts should
go viral. You need initial boost only. How to get massive traffic?
Search for; Murgrabia’s tools go viral

Reply
Erin May July 4, 2017 - 2:18 pm

I am glad you enjoy our complimentary info MaxieX and thank you for advice!!!

Reply

Leave a Comment

[activeKey]
[activeKey]
[activeKey]
[activeKey]
[activeKey]
[activeKey]
[activeKey]
[activeKey]
[activeKey]
[activeKey]