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Buying a property in Mexico: what you need to know

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The definitive guide to investing in Mexico as a foreigner

The Riviera Maya is one of the most coveted destinations for foreign investors, both for its natural beauty and its vibrant development. Cities such as Playa del Carmen, Cancun and Tulum offer attractive opportunities, but it is crucial to understand the regulations and legal processes for a successful and safe property acquisition. At Onix Living, we not only guide you through each step, but we also optimize the process to make it smooth and agile
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1. Restricted Zone and Trust
The Mexican Constitution stipulates that foreigners cannot purchase property directly within the “restricted zone”, which includes 50 km from the coasts and 100 km from the borders. The Riviera Maya is within this zone, so foreigners must use a trust to make the purchase.
What is a trust?
The trust is a permit granted by the SRE (Ministry of Foreign Affairs) through a Mexican bank, where the foreigner is the beneficiary. It grants all rights to the property, as if you were the direct owner. At Onix Living, we work with prestigious banks that expedite the creation of trusts, offering legal security and peace of mind to our clients.

2. Election of Notary Public
Any purchase of real estate in Mexico must be supervised by a notary public. He or she will verify the authenticity of the titles and that the property is free of debts. At Onix Living, we facilitate the process by collaborating with trusted notaries who are familiar with our properties, ensuring a fast and efficient process.

4. Financing and Forms of Payment

There are different financing options for foreigners interested in acquiring a property in the Riviera Maya. Some developers offer direct financing, and Mexican banks also provide mortgage loans, as long as requirements such as proof of income and good credit history are met. At Onix Living, we offer flexible payment plans that adjust to each client’s needs, ensuring a smooth and hassle-free transaction.

5. Taxes and Related Expenses
When acquiring a property, it is important to take into account additional expenses such as:
  • Real Estate Acquisition Tax (ISAI): Varies between 2% and 3.5% of the value of the property.
  • Notary fees: Depending on the value of the property.
  • Annual property tax: To be paid every year like any other property owner.

At Onix, we provide detailed advice on these costs so that clients have total clarity on their investments.

6. Public Registry of Property

The final step after the purchase is the registration of the property in the Public Registry of Property, which guarantees the legal ownership of the buyer. This is a process carried out by the notary, ensuring that everything is in order for you to enjoy your new home or investment without worries.

7. Legal and Real Estate Advisory

Having the support of a real estate advisor is key to a smooth purchase process. At Onix Living, our team of experts works closely with you, from the selection of the property to the formalization of the transaction, ensuring that all legal and financial aspects are covered.

Conclusion
Acquiring a property in the Riviera Maya as a foreigner is an accessible process, as long as you follow the legal regulations and have the right support. Whether you are looking for an investment, a vacation home or a place to live permanently, Onix Living will provide you with all the advice and support you need to make this experience a pleasant and hassle-free one.
We are here to accompany you every step of the way, making sure your investment is safe and profitable. With our experience and commitment, purchasing a property in the Riviera Maya will be a decision you will enjoy for the long term!
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