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New Apartments & Condos for Sale in Cozumel - 2024 Edition

Welcome to Cozumel, a tropical paradise renowned for its stunning beaches, vibrant coral reefs, and rich cultural heritage.

Located off the eastern coast of Mexico's Yucatán Peninsula, Cozumel is the country's largest inhabited island and a premier destination for travelers and investors alike. With its unique blend of natural beauty, modern amenities, and authentic Mexican charm, Cozumel offers an unparalleled opportunity for those looking to invest in a piece of Caribbean paradise.

COZUMEL CONDOS FOR SALE

1. Introduction to Cozumel

​The Allure of Cozumel

Cozumel is an island oasis located in the Caribbean Sea, just 12 miles off the eastern coast of the Yucatán Peninsula. Known for its crystal-clear waters, white sandy beaches, and vibrant marine life, Cozumel is a haven for divers, snorkelers, and beach enthusiasts.

  • World-Class Diving and Snorkeling: Home to part of the Mesoamerican Barrier Reef, the second-largest coral reef system in the world, Cozumel offers unparalleled underwater experiences.

  • Rich Cultural Heritage: The island boasts a blend of Mayan history and modern Mexican culture, with archaeological sites, festivals, and local traditions.

  • Natural Beauty: Beyond its beaches, Cozumel features lush jungles, mangroves, and a variety of flora and fauna unique to the region.

  • Accessibility: With an international airport and ferry connections to the mainland, Cozumel is easily accessible for both tourists and residents.

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Growth as a Real Estate Hotspot

Over the past decade, Cozumel has emerged as a prime location for real estate investment due to:

  • Increasing Tourism: Welcoming over 4 million visitors annually, Cozumel is one of the most visited ports of call for cruise ships.

  • Stable Market Growth: Consistent appreciation in property values, averaging 5% to 7% per year.

  • Infrastructure Development: Government investment in roads, utilities, and services enhances the island's appeal.

  • Diverse Property Options: A range of condos catering to different budgets and preferences, from affordable units to luxury penthouses.

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2. Why Invest in Cozumel Condos?

Booming Tourism Industry

  • High Visitor Numbers: In 2023 Cozumel received around 4 million tourists, a number that continues to grow.

  • Cruise Ship Destination: As one of the busiest cruise ports in the world, Cozumel sees a constant influx of potential renters.

  • Diving and Eco-Tourism: The island's natural attractions make it a year-round destination.

  • International Recognition: Featured in numerous travel publications as a top Caribbean destination.

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High Return on Investment

  • Rental Income Potential: Condos can generate significant rental income, with occupancy rates averaging 70% to 85% annually.

  • Property Appreciation: Historical data shows condo values increasing by 5% to 7% per annum.

  • Lower Competition: Compared to mainland destinations, Cozumel offers a more exclusive market with less saturation.

  • Affordable Prices: Relative to other Caribbean islands, Cozumel provides excellent value for money.

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Quality of Life and Amenities

  • Safe Environment: Cozumel is known for its low crime rates and friendly community.

  • Modern Conveniences: Access to quality healthcare, education, shopping, and dining.

  • Relaxed Lifestyle: Ideal for retirees, families, and those seeking a tranquil environment.

  • Cultural Richness: A blend of local traditions and international influences creates a vibrant community.

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  • STUDIO CONDO IN TULUM

Aerial View of Waves

3. Understanding Cozumel's Neighborhoods

1. San Miguel de Cozumel (Downtown)

Overview:

The heart of Cozumel, San Miguel is a bustling town center offering a mix of commercial and residential properties.

  • Location: Along the western shore, facing the mainland.

  • Characteristics:

    • Vibrant Atmosphere: Lively streets with shops, restaurants, and bars.

    • Cultural Hub: Hosts festivals, events, and has historical landmarks.

    • Convenience: Close to ferry terminals, markets, and services.

  • Condos:

    • Types: Studio, 1-bedroom, and 2-bedroom units.

    • Prices:

      • Studios: Starting from $80,000 USD.

      • 1-bedroom units: From $120,000 USD.

      • 2-bedroom units: Up to $250,000 USD.

    • Features: Urban living with easy access to amenities.

  • Ideal For:

    • Buyers seeking a central location.

    • Investors targeting short-term rentals to tourists.

    • Those who enjoy a lively, urban environment.

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2. North Hotel Zone

Overview:

An upscale area north of downtown, known for its luxury condos and proximity to the beach.

  • Location: North of San Miguel along the western coast.

  • Characteristics:

    • Beachfront Properties: Stunning ocean views and beach access.

    • Quiet Environment: Less crowded than downtown.

    • Resort Amenities: Close to high-end resorts and golf courses.

  • Condos:

    • Types: 2-bedroom units, luxury condos, and penthouses.

    • Prices:

      • 2-bedroom units: From $250,000 USD.

      • Luxury condos: Starting at $400,000 USD.

      • Penthouses: Can exceed $800,000 USD.

    • Features: High-end finishes, pools, fitness centers, security.

  • Ideal For:

    • Luxury buyers desiring beachfront living.

    • Investors in the high-end rental market.

    • Those seeking a tranquil and upscale setting.

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3. South Hotel Zone

Overview:

A popular area for tourism and real estate, offering a mix of condos and resorts.

  • Location: South of San Miguel along the western coast.

  • Characteristics:

    • Tourist-Friendly: Close to beaches, dive shops, and attractions.

    • Scenic Beauty: Offers some of the best snorkeling and diving spots.

    • Developed Infrastructure: Good roads and services.

  • Condos:

    • Types: 1-bedroom, 2-bedroom, and luxury units.

    • Prices:

      • 1-bedroom units: Starting from $150,000 USD.

      • 2-bedroom units: Up to $300,000 USD.

      • Luxury condos: From $350,000 USD.

    • Features: Beach access, pools, balconies with ocean views.

  • Ideal For:

    • Investors targeting tourists interested in water activities.

    • Buyers wanting proximity to beaches and resorts.

    • Families and retirees seeking a comfortable lifestyle.

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4. Corpus Christi

Overview:

A desirable residential neighborhood known for its quiet streets and community feel.

  • Location: South of downtown, inland but within walking distance to the sea.

  • Characteristics:

    • Family-Oriented: Safe environment with parks and schools nearby.

    • Local Amenities: Close to supermarkets, restaurants, and services.

    • Architectural Variety: Mix of modern condos and traditional homes.

  • Condos:

    • Types: 1-bedroom and 2-bedroom units.

    • Prices:

      • 1-bedroom units: From $100,000 USD.

      • 2-bedroom units: Up to $250,000 USD.

    • Features: Spacious layouts, community pools, parking.

  • Ideal For:

    • Families and long-term residents.

    • Investors in long-term rentals.

    • Those seeking a balance between city life and tranquility.

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5. Gonzalo Guerrero

Overview:

An emerging area offering affordable condos and investment opportunities.

  • Location: East of Corpus Christi, slightly inland.

  • Characteristics:

    • Affordable Living: Lower property prices with growth potential.

    • Local Vibe: Predominantly local residents with a growing expat community.

    • Development: Increasing number of new condo projects.

  • Condos:

    • Types: Studios, 1-bedroom units.

    • Prices:

      • Studios: Starting from $70,000 USD.

      • 1-bedroom units: Up to $150,000 USD.

    • Features: Basic amenities, potential for customization.

  • Ideal For:

    • First-time buyers or investors.

    • Budget-conscious individuals.

    • Those interested in integrating into the local community.

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6. Independencia

Overview:

A neighborhood offering a mix of residential and commercial properties.

  • Location: Inland, east of San Miguel.

  • Characteristics:

    • Local Community: Strong sense of community with local markets and schools.

    • Affordable Options: Attractive prices for condos and apartments.

    • Infrastructure: Access to public transportation and services.

  • Condos:

    • Types: Studios, 1-bedroom, and 2-bedroom units.

    • Prices:

      • Studios: From $60,000 USD.

      • 1-bedroom units: Starting at $80,000 USD.

      • 2-bedroom units: Up to $180,000 USD.

    • Features: Simple designs, potential for rental income.

  • Ideal For:

    • Investors in long-term rentals.

    • Buyers seeking affordable housing.

    • Those wanting to experience local culture.

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7. El Centro

Overview:

The historic center of Cozumel, rich in culture and history.

  • Location: Central San Miguel, near the main square.

  • Characteristics:

    • Cultural Hub: Museums, art galleries, historical buildings.

    • Entertainment: Restaurants, bars, nightlife.

    • Walkability: Easy access to shops, the ferry terminal, and the waterfront.

  • Condos:

    • Types: Studios, lofts, and boutique condos.

    • Prices:

      • Studios: From $90,000 USD.

      • Lofts and condos: Up to $200,000 USD.

    • Features: Unique architecture, balconies, rooftop terraces.

  • Ideal For:

    • Investors targeting short-term rentals.

    • Individuals who enjoy city living.

    • Those interested in cultural experiences.

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8. Country Club Estates

Overview:

An upscale residential area known for its tranquility, security, and natural surroundings.

  • Location: North of the island, along the western coast.

  • Characteristics:

    • Exclusive Living: Gated community with 24-hour security, offering peace of mind for residents.

    • Natural Surroundings: Lush landscapes, abundant wildlife, and proximity to secluded beaches.

    • Former Golf Course: The Cozumel Country Club golf course, once a key feature of this area, is currently closed due to damage sustained from hurricanes in 2020. There are no official announcements regarding its reopening or future development plans.

  • Condos:

    • Types: Luxury condos and penthouses.

    • Prices:

      • Luxury condos: Starting at $250,000 USD.

      • Penthouses: Can exceed $500,000 USD.

    • Features: High-end finishes, spacious layouts, premium amenities, and some units with views of the natural landscapes where the golf course once operated.

  • Ideal For:

    • Buyers seeking luxury and exclusivity in a peaceful environment.

    • Nature enthusiasts who appreciate the area's natural beauty and wildlife.

    • Investors interested in properties with potential for appreciation due to limited development.

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Note for Buyers:

  • Golf Amenities: If access to a functioning golf course is a significant factor in your decision, please be aware that the Cozumel Country Club golf course is currently closed. Potential buyers should verify the latest information and consider alternative areas if golf is a priority.

  • Alternative Amenities: Despite the golf course closure, Country Club Estates offers other attractive features:

    • Security: Gated access with 24-hour surveillance ensures a safe living environment.

    • Natural Beauty: The area is rich in flora and fauna, making it ideal for those who enjoy nature walks, bird watching, and a serene atmosphere.

    • Beach Access: Proximity to some of Cozumel's quieter beaches allows residents to enjoy the Caribbean Sea away from crowded tourist spots.

  • Investment Considerations: The closure of the golf course may affect the appeal for some buyers, but the area's exclusivity and potential for future development can still make it a sound investment. Property values may benefit from any future projects that enhance the community.

Amenities:

  • Recreation: Opportunities for cycling, jogging, and outdoor activities within the community.

  • Proximity to Town: A short drive to San Miguel de Cozumel offers access to shopping, dining, and entertainment.

  • Transportation: Easy access to the island's main highway and the Cozumel International Airport.

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9. Costa del Sol

Overview:

A beachfront community offering private condos and resort-style living.

  • Location: Southern part of the island along the coast.

  • Characteristics:

    • Secluded Environment: Peaceful setting away from the bustling town.

    • Resort Amenities: Pools, private docks, beach access.

    • Water Activities: Excellent snorkeling and diving spots nearby.

  • Condos:

    • Types: 2-bedroom and 3-bedroom units.

    • Prices:

      • 2-bedroom units: From $250,000 USD.

      • 3-bedroom units: Up to $500,000 USD.

    • Features: Ocean views, spacious layouts, luxury amenities.

  • Ideal For:

    • Families and retirees seeking a quiet lifestyle.

    • Investors targeting vacation rentals.

    • Those desiring direct beach access.

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10. Southern Shores

Overview:

An area known for its natural beauty and upscale properties.

  • Location: Far south of the island along the western coast.

  • Characteristics:

    • Natural Attractions: Close to ecological parks and pristine beaches.

    • Luxury Properties: High-end condos with premium features.

    • Privacy: Low-density development ensures tranquility.

  • Condos:

    • Types: Luxury condos, penthouses.

    • Prices:

      • Luxury condos: Starting at $400,000 USD.

      • Penthouses: Can exceed $800,000 USD.

    • Features: Private pools, panoramic ocean views, high-end finishes.

  • Ideal For:

    • High-net-worth individuals.

    • Investors in luxury rentals.

    • Those seeking an exclusive and serene environment.

4. Types of Condos Available in Cozumel

Studio Condos

Features:

  • Size: Typically 300 to 500 sq ft.

  • Layout: Open-concept living area combining bedroom and living space.

  • Amenities: Basic facilities; may include shared pools and gardens.

  • Ideal For:

    • Solo travelers or couples.

    • First-time investors.

    • Budget-conscious buyers.

  • Price Range: $60,000 to $120,000 USD.

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1-Bedroom Condos

Features:

  • Size: Approximately 500 to 800 sq ft.

  • Layout: Separate bedroom, living room, kitchen.

  • Amenities: Balconies, modern kitchens, access to building facilities.

  • Ideal For:

    • Singles or couples wanting more space.

    • Investors seeking balance between cost and rental income.

    • Long-term renters.

  • Price Range: $80,000 to $200,000 USD.

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2-Bedroom Condos

Features:

  • Size: Ranges from 800 to 1,200 sq ft.

  • Layout: Two bedrooms, larger living areas, often with en-suite bathrooms.

  • Amenities: Enhanced facilities like rooftop pools, security, parking.

  • Ideal For:

    • Small families.

    • Investors targeting families or groups.

    • Higher rental income potential.

  • Price Range: $150,000 to $350,000 USD.

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3-Bedroom Condos

Features:

  • Size: Between 1,200 to 1,800 sq ft.

  • Layout: Spacious bedrooms, multiple bathrooms, large common areas.

  • Amenities: Luxury features such as private terraces, high-end appliances.

  • Ideal For:

    • Larger families or groups.

    • Investors in luxury rental markets.

    • Buyers seeking permanent residence.

  • Price Range: $250,000 to $500,000+ USD.

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Luxury Condos and Penthouses

Features:

  • Size: Over 1,800 sq ft.

  • Layout: Multiple bedrooms with en-suite bathrooms, expansive living spaces.

  • Amenities: Private pools, rooftop terraces, concierge services, panoramic views.

  • Ideal For:

    • High-net-worth individuals.

    • Investors targeting premium clientele.

    • Those desiring the pinnacle of luxury living.

  • Price Range: $500,000 USD and above.

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Diving in Coral Reef

5. Cozumel Condo Market Overview

Market Trends and Statistics

The condo market in Cozumel is robust, with consistent growth driven by tourism and international investment.

  • Appreciation Rates: Condo values have appreciated by an average of 5% to 7% annually over the past decade.

  • Rental Market:

    • Occupancy Rates: Average annual occupancy rates range from 70% to 85%, with peak seasons seeing near-full occupancy.

    • Rental Yields: Net rental yields can range from 6% to 12%, depending on location and condo type.

  • Buyer Demographics:

    • International Investors: A significant number of buyers are from the U.S., Canada, and Europe.

    • Retirees: Attracted by the island's safety and lifestyle.

    • Local Investors: Increasing interest in capitalizing on the tourism boom.

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Condo Price Ranges

  • Studios: $60,000 to $120,000 USD.

  • 1-Bedroom Condos: $80,000 to $200,000 USD.

  • 2-Bedroom Condos: $150,000 to $350,000 USD.

  • 3-Bedroom Condos: $250,000 to $500,000+ USD.

  • Luxury Condos/Penthouses: $500,000 USD and above.

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Investment Potential and ROI

Studios and 1-Bedroom Condos:

  • Rental Income: $10,000 to $18,000 USD annually.

  • ROI: Net ROI of 6% to 8%.

2-Bedroom Condos:

  • Rental Income: $18,000 to $30,000 USD annually.

  • ROI: Net ROI of 7% to 10%.

Luxury Condos and Penthouses:

  • Rental Income: $35,000 to $70,000+ USD annually.

  • ROI: Net ROI of 8% to 12%.

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Factors Influencing Returns:

  • Location: Beachfront and ocean-view condos command higher rental rates.

  • Amenities: Properties with premium amenities attract more renters.

  • Management: Effective property management maximizes occupancy and income.

6. Buying a Condo in Cozumel

Engaging a Real Estate Agent

  • Benefits:

    • Local Expertise: Knowledge of market trends and property values.

    • Negotiation Skills: Helps secure the best price and terms.

    • Legal Guidance: Assistance with contracts and legal processes.

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Legal Considerations for Foreign Buyers

  • Restricted Zone: Foreigners cannot own property outright within 50 km of the coast.

  • Fideicomiso (Bank Trust):

    • Setup Cost: Approximately $1,500 to $2,000 USD.

    • Annual Fees: Around $500 to $800 USD.

    • Ownership Rights: Full rights, including selling and inheriting.

  • Mexican Corporation:

    • Used for Commercial Properties or multiple condos.

    • Setup Cost: Approximately $2,000 to $3,000 USD.

    • Annual Maintenance: $1,000 to $2,000 USD.

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Financing Options

  • Cash Purchases: Common among foreign buyers.

  • Developer Financing: Available for pre-construction condos; terms vary.

  • Mexican Banks: Limited options; interest rates between 7% to 9%.

  • International Lenders: Some foreign banks offer mortgages for Mexican properties.

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Closing Costs and Taxes

  • Closing Costs:

    • Estimated at 5% to 7% of the purchase price.

    • Includes: Notary fees, transfer taxes, registration fees.

  • Property Taxes (Predial):

    • Approximately 0.1% to 0.2% of the assessed value.

    • Example: A $250,000 USD condo would have an annual tax of $250 to $500 USD.

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Property Management and Rental Services

  • Services Offered:

    • Marketing: Listing on rental platforms.

    • Maintenance: Upkeep and repairs.

    • Guest Services: Check-in/out, cleaning.

  • Fees:

    • Management Fees: Typically 15% to 25% of rental income.

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FAQ

7. Frequently Asked Questions

Can Americans buy condos in Cozumel?

Yes, foreigners can legally purchase condos in Cozumel using a Fideicomiso (bank trust) or by establishing a Mexican corporation for commercial properties.

  • Fideicomiso Setup Cost: $1,500 to $2,000 USD.

  • Annual Trust Fees: $500 to $800 USD.

  • Ownership Rights: Full rights, including selling, renting, or bequeathing the property.

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What are the steps to buying a condo in Cozumel?

  • Engage a Real Estate Agent: Find a reputable local agent.

  • Property Search: Identify condos that meet your criteria.

  • Offer and Acceptance: Negotiate the price and terms.

  • Sales Agreement: Sign a promissory contract and pay a deposit (usually 10%).

  • Establish Fideicomiso: Set up the bank trust.

  • Due Diligence: Legal checks on the condo's title and permits.

  • Closing: Sign final documents before a Notary Public and pay the remaining balance.

  • Registration: Condo is registered in your name (or the trust) at the Public Registry.

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How much are closing costs when buying a condo?

Closing costs typically range from 5% to 7% of the condo's purchase price, including:

  • Notary Fees: 1% to 2%.

  • Transfer Tax: Approximately 2%.

  • Appraisal and Registration Fees: 1% to 2%.

  • Bank Trust Fees: Initial setup of $1,500 to $2,000 USD.

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Are property taxes high in Cozumel?

  • No, property taxes are relatively low.

  • Annual Property Tax (Predial):

  • Rate: Approximately 0.1% to 0.2% of the assessed value.

  • Example: A condo valued at $200,000 USD would have an annual tax of $200 to $400 USD.

  • Discounts: Early payment discounts of up to 25% if paid in January.

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Can I rent out my condo when I'm not using it?

Yes, you can rent out your condo.

  • Short-Term Rentals: Popular through platforms like Airbnb and VRBO.

  • Property Management: Local companies can manage bookings and maintenance.

  • Rental Income: Can provide a significant ROI; be aware of local regulations and taxes.

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What are the ongoing costs of owning a condo?

  • Property Taxes: As detailed above.

  • Utilities: Electricity, water, gas, internet.

  • HOA Fees: Ranges from $100 to $400 USD per month, depending on the complex.

  • Maintenance: Regular upkeep and potential repairs.

  • Insurance: Condo insurance averages $300 to $1,000 USD annually

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Is financing available for purchasing a condo?

  • Mexican Banks: Limited options for foreigners; higher interest rates.

  • Developer Financing: Often available for new developments; terms vary.

  • Home Country Financing: Some buyers use equity or loans from their home country.

  • Interest Rates: Typically between 7% to 12%.

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What is the cost of living compared to the U.S. or Canada?

  • Lower Overall Costs: Generally 30% to 50% less than major U.S. or Canadian cities.

  • Example:

  • Monthly Expenses for a Couple: Comfortable lifestyle at $2,000 to $3,000 USD per month.

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Are there any restrictions on renting out my condo?

  • HOA Regulations: Some condo complexes may have rules regarding rentals.

  • Local Laws: Ensure compliance with municipal regulations and tax obligations.

  • Permits: May require a business license or permit for short-term rentals.

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How secure is investing in Cozumel condos?

  • Stable Market: Consistent growth and demand for condos.

  • Legal Protections: Proper use of a Fideicomiso provides secure ownership.

  • Due Diligence: Working with reputable professionals minimizes risks.

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