New Apartments & Condos for Sale in Puerto Aventuras - 2024 Edition

4. Types of Condos Available in Puerto Aventuras

Studio Condos

Features:

• Size: Typically 350 to 500 sq ft.

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

• Amenities: Basic facilities; may include access to community pools and gardens.

• Ideal For:

  • Solo travelers or couples.

  • First-time investors.

  • Budget-conscious buyers.

• Price Range (2023): $70,000 to $150,000 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 (2023): $120,000 to $250,000 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 pools, security, parking.

• Ideal For:

  • Small families.

  • Investors targeting families or groups.

  • Higher rental income potential.

• Price Range (2023): $200,000 to $400,000 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 (2023): $350,000 to $600,000+ 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 (2023): $500,000 USD and above.

5. Puerto Aventuras Condo Market Overview

Market Trends and Statistics

The condo market in Puerto Aventuras is robust and continues to grow in 2023, driven by tourism, security, and lifestyle appeal.

• Appreciation Rates: Condo values have appreciated by an average of 8% to 10% annually over the past five years.

• Rental Market:

  • Occupancy Rates: Average annual occupancy rates range from 75% to 90%, with peak seasons often fully booked.

  • Rental Yields: Net rental yields can range from 8% to 12%, depending on location and condo type.

• Buyer Demographics:

  • International Investors: Significant interest from the U.S., Canada, Europe, and increasingly from Asia.

  • Retirees and Families: Attracted by the secure environment and amenities.

  • Local Investors: Recognizing the potential in the high-demand rental market.

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Condo Price Ranges (2023)

• Studios: $70,000 to $150,000 USD.

• 1-Bedroom Condos: $120,000 to $250,000 USD.

• 2-Bedroom Condos: $200,000 to $400,000 USD.

• 3-Bedroom Condos: $350,000 to $600,000+ USD.

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

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Investment Potential and ROI

Studios and 1-Bedroom Condos:

• Rental Income: $12,000 to $20,000 USD annually.

• ROI: Net ROI of 8% to 10%.

2-Bedroom Condos:

• Rental Income: $20,000 to $35,000 USD annually.

• ROI: Net ROI of 9% to 12%.

Luxury Condos and Penthouses:

• Rental Income: $40,000 to $80,000+ USD annually.

• ROI: Net ROI of 10% to 14%.

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Factors Influencing Returns:

• Location: Marina front and beachfront condos command higher rental rates and appreciation.

• Amenities: Properties with premium amenities attract more renters and can charge higher rental prices.

• Property Management: Effective management maximizes occupancy and income.

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6. Luxury Condo Sector

Marina Front Condos

Features:

• Exclusive Locations: Direct views and access to the marina.

• Amenities: Private docks, infinity pools, rooftop terraces, high-end appliances.

• Prices (2023): From $250,000 USD to over $1 million USD.

Investment Potential:

• High Rental Rates: Nightly rates ranging from $250 to $1,500 USD.

• Occupancy Rates: Approximately 80% to 90% annually.

• ROI: Net ROI of 10% to 14%.

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Beachfront Condos

Features:

• Panoramic Views: Unobstructed views of the Caribbean Sea.

• Luxury Amenities: Gym, spa, concierge services, private beach access.

• Prices (2023): Starting from $350,000 USD.

Investment Potential:

• Rental Appeal: High demand from tourists seeking luxury accommodations.

• ROI: Potential net ROI of 10% to 14%.

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Gated Communities

Examples:

• Bahia Kantenah

• Caleta Yalku

Features:

• Security: 24-hour gated access with surveillance.

• Amenities: Golf courses, tennis courts, wellness centers.

• Condo Prices (2023): Ranging from $250,000 USD to over $800,000 USD.

7. The Buying Process in Puerto Aventuras

Engaging a Real Estate Agent

• Benefits:

  • Local Expertise: Insight into market trends, property values, and upcoming developments.

  • Negotiation Skills: Assistance in securing the best price and favorable terms.

  • Legal Guidance: Help navigating contracts, legal requirements, and due diligence.

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Legal Considerations for Foreign Buyers

• Restricted Zone: Puerto Aventuras falls within the restricted zone (50 km from the coast), where foreigners cannot own property outright.

• Fideicomiso (Bank Trust):

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

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

  • Ownership Rights: Full rights to use, sell, rent, or bequeath the property.

• Mexican Corporation:

  • Used for Commercial Properties or owning multiple properties.

  • 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: Preferred and most common among foreign buyers.

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

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

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

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Closing Costs and Taxes

• Closing Costs:

  • Estimated at 5% to 8% of the purchase price.

  • Includes: Notary fees, transfer taxes, appraisal, registration fees, and bank trust setup.

• Property Taxes (Predial):

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

  • Example: A $300,000 USD condo would have an annual tax of $300 to $600 USD.

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Property Management and Rental Services

• Services Offered:

  • Marketing: Professional listings on rental platforms and social media.

  • Maintenance: Regular upkeep, cleaning, and repairs.

  • Guest Services: Check-in/out assistance, concierge services.

• Fees:

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

8. Frequently Asked Questions

Can Foreigners buy condos in Puerto Aventuras?

Yes, foreigners can legally purchase condos in Puerto Aventuras using a Fideicomiso (bank trust) or by establishing a Mexican corporation.

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

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

• Ownership Rights: Full rights to use, sell, rent, or bequeath the property.

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What are the steps to buying a condo in Puerto Aventuras?​

• Engage a Real Estate Agent: Find a reputable local agent experienced in Puerto Aventuras properties.

• Property Search: Identify condos that meet your criteria and budget.

• Offer and Acceptance: Negotiate the price and terms; submit a formal offer.

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

• Establish Fideicomiso: Set up the bank trust with a Mexican bank.

• Due Diligence: Conduct legal checks on the condo's title, permits, and any liens.

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

• Registration: The 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 8% 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 Puerto Aventuras?

• 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 $300,000 USD would have an annual tax of $300 to $600 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 offer comprehensive services to manage bookings, maintenance, and guest services.

• Rental Income: Can provide significant ROI; ensure compliance with local regulations and tax obligations.

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What are the ongoing costs of owning a condo?

• Property Taxes: As detailed above.

• Utilities: Electricity, water, gas, internet; costs vary based on usage.

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

• Maintenance: Regular upkeep, potential repairs; budget for unexpected expenses.

• Insurance: Condo insurance averages $400 to $1,000 USD annually.

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Is financing available for purchasing a condo?

• Mexican Banks: Limited mortgage options for foreigners; higher interest rates and strict requirements.

• Developer Financing: Available for select properties, often with short-term payment plans.

• Home Country Financing: Some buyers leverage home equity loans or financing from lenders in their home country.

• Interest Rates: Typically between 7% to 12%, depending on the lender and terms.

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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 $2,500 to $3,500 USD per month, including housing, utilities, food, transportation, and entertainment.

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Are there any restrictions on renting out my condo?

• HOA Regulations: Some condo complexes have rules regarding rentals; always check the homeowners association bylaws.

• Local Laws: Ensure compliance with municipal regulations, including obtaining necessary permits and paying lodging taxes.

• Permits: May require a business license or permit for short-term rentals; consult with a local attorney or property manager.

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How secure is investing in Puerto Aventuras condos?

• Stable Market: Consistent growth and demand for condos.

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

• Due Diligence: Working with reputable real estate agents, attorneys, and notaries minimizes risks.

• Market Appeal: Puerto Aventuras' unique blend of amenities, security, and location make it a highly desirable market for both personal use and investment.