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1. Can a foreigner legally own property in Mexico City?
Yes, a foreigner can legally own property in Mexico City with no restrictions, as it is located outside the "Restricted Zone" (which applies only to areas within 50 km of the coast or 100 km of international borders).
Note: This includes purchases at Park Hyatt Residences Mexico City—there are no special restrictions.
2. Is Park Hyatt Residences Mexico City available as full ownership or fractional?
3. What’s the legal process for purchasing a property in Mexico as a foreigner?
Key steps:
3.1.- Offer & Deposit: Sign a contract and pay a deposit.
3.2.- Due Diligence: Verify property title, no liens, and zoning.
3.3.- Notary Public: Handles deeds, taxes, and registration.
3.4.- Closing: Pay balance, fees (~4–6% of property value), and receive the deed.
4. Are there any annual property taxes or fees I should be aware of?
- Property Tax (Predial): ~0.1–1.2% of assessed value (paid yearly).
- HOA Fees: Common in condos (varies by building).
5. What legal and due diligence support will I have throughout the process?
You should work with:
- A real estate attorney (to review contracts, titles, and permits).
- A notary public (mandatory for closing; verifies legality).
- A realtor specializing in foreign buyers.
We will be with you throughout the entire purchase process to ensure your security and that everything goes smoothly. Our goal is to provide you with peace of mind and guarantee that every step is completed correctly and successfully.
6. Can I rent the property while I’m away?
Yes, but check:
- HOA Rules: Some condos restrict short-term rentals (e.g., Airbnb).
- Taxes: Rental income must be reported to Mexican authorities
7. Is the purchase price fixed in USD or MXN?
8. How do I ensure title, legal compliance, and ownership protection?
- Title Search: Verify no liens or disputes exist.
- Notary Review: Ensures compliance with Mexican law.
- Registration: The deed must be filed in the Public Property Registry.
- Title Insurance: Recommended (available via First American, Stewart Title, etc.)