Buying property in Mexico is still very affordable, a condo a few blocks away from the beach can start as low as the mid 170K. In this sought after market, many people that bought their property in the pre-construction stage have had a 25% equity gain upon completion of the project. On top of the low prices and the possibility of earning extra income, Mexico offers the homeowner extremely low property taxes: 0.001% of the value of your property, while the U.S. and Canada have an average of 3%. If you have a $350,000 USD Penthouse, your property tax would be around $350 USD a year, or less, if you pay early you can get a good discount.
If you are planning on spending only a few months in Mexico and then go back home, your property can generate extra income during those months you are not using your property. High season in the Riviera Maya has 100% occupancy rates, and many people look into vacation rentals: furnished condos close to the beach. You can hire an administrator to deal with the rentals or many property’s offer rental programs. Some buyers use their condos just as an investment get as much as 8% ROI per year on their property, just by paying an administrator fee or a website to advertise their property. The Riviera Maya is a great investment option in a market that keeps growing.