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

Welcome to Puerto Morelos, a hidden gem on Mexico's Caribbean coast where the charm of a traditional fishing village meets the allure of a modern tourist destination.

Nestled between the bustling cities of Cancun and Playa del Carmen, Puerto Morelos offers a tranquil alternative with its pristine beaches, vibrant coral reefs, and a close-knit community. This coastal town is rapidly gaining attention from both tourists and real estate investors seeking a slice of paradise that's still authentically Mexican.

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1. Introduction to Puerto Morelos

​The Allure of Puerto Morelos

Situated approximately 20 minutes south of Cancun International Airport and 30 minutes north of Playa del Carmen, Puerto Morelos is a serene coastal town that offers a unique blend of tranquility and convenience. Unlike its bustling neighbors, Puerto Morelos has retained its small-town charm and authentic Mexican atmosphere.

  • Pristine Beaches: Miles of white sandy shores lined with swaying palm trees and the turquoise waters of the Caribbean Sea.

  • Vibrant Coral Reef: Home to the Mesoamerican Barrier Reef, the second-largest coral reef system in the world, making it a paradise for snorkeling and diving enthusiasts.

  • Cultural Richness: A community that values local traditions, festivals, and a laid-back lifestyle.

  • Accessibility: Proximity to major tourist destinations while offering a peaceful retreat away from the crowds.

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Growth as a Real Estate Hotspot

Puerto Morelos is emerging as an attractive destination for real estate investment due to:

  • Increasing Tourism: A growing number of visitors seeking authentic experiences and eco-tourism.

  • Strategic Location: Close to Cancun and Playa del Carmen, yet offering more affordable property prices.

  • Development Opportunities: Availability of land and new developments catering to various budgets.

  • Government Investment: Infrastructure improvements and sustainable development initiatives.

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2. Why Invest in Puerto Morelos Condos?

Booming Tourism Industry

  • Visitor Statistics: Puerto Morelos has seen a steady increase in tourism, with over 500,000 visitors in 2023.

  • Eco-Tourism Appeal: Attractions like the coral reef, cenotes, and botanical gardens draw nature lovers.

  • High Occupancy Rates: Vacation rentals have occupancy rates averaging 65% to 75% annually.

  • International Recognition: Featured in travel publications as an up-and-coming destination.

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High Return on Investment

  • Rental Yields: Investors can expect net ROI between 6% to 10% annually.

  • Property Appreciation: Average property value increases of 5% to 8% per year.

  • Lower Entry Costs: More affordable than neighboring cities, offering potential for higher appreciation.

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Lifestyle and Amenities

  • Peaceful Lifestyle: A relaxed environment ideal for retirees and families.

  • Modern Conveniences: Essential services like supermarkets, healthcare centers, and schools.

  • Community Feel: Close-knit community with local events and festivals.

  • Natural Beauty: Access to beaches, mangroves, and protected natural areas.​​

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  • STUDIO CONDO IN TULUM

3. Understanding Puerto Morelos Neighborhoods

1. Puerto Morelos Centro (Downtown)

Overview:

The heart of Puerto Morelos, offering a blend of traditional charm and modern amenities.

  • Location: East of Highway 307, directly along the beachfront.

  • Characteristics:

    • Authentic Atmosphere: Cobblestone streets, local markets, and a central square.

    • Walkability: Everything is within walking distance, including the beach, restaurants, and shops.

    • Cultural Hub: Hosts local festivals, art fairs, and live music events.

  • Properties:

    • Types: Condominiums, small homes, boutique hotels.

    • Prices:

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

      • Homes: From $200,000 to $500,000 USD.

    • Features: Ocean views, balconies, traditional architecture.

  • Amenities:

    • Dining and Shopping: Local eateries, artisan shops, and daily fish markets.

    • Services: Banks, pharmacies, and essential services.

  • Ideal For:

    • Buyers seeking authentic Mexican living.

    • Investors targeting vacation rentals with high occupancy.

    • Those who prefer a community-centric environment.

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2. Beachfront Zone

Overview:

Prime real estate along the coastline offering stunning views and immediate beach access.

  • Location: Stretching along the Caribbean Sea, east of the central square.

  • Characteristics:

    • Luxury Properties: High-end condos and villas.

    • Scenic Beauty: Unobstructed ocean views and access to the beach.

    • Privacy: Some areas are more secluded, providing tranquility.

  • Properties:

    • Types: Beachfront condos, luxury villas, boutique resorts.

    • Prices:

      • Condos: From $250,000 USD for 1-bedroom units.

      • Villas: Starting at $500,000 USD and can exceed $2 million USD.

    • Features: Private beach access, swimming pools, rooftop terraces.

  • Amenities:

    • Recreation: Water sports, beach clubs, and diving centers.

    • Security: Many properties are within gated complexes.

  • Ideal For:

    • Luxury buyers desiring beachfront living.

    • Investors in the high-end rental market.

    • Those seeking a serene and picturesque setting.

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3. Colonia Joaquin Zetina Gasca

Overview:

A residential area west of the highway, offering affordable housing and a local atmosphere.

  • Location: West of Highway 307, approximately 5 minutes from the beach.

  • Characteristics:

    • Local Community: Predominantly inhabited by locals, with a growing expat presence.

    • Affordable Living: Lower property prices compared to beachfront areas.

    • Infrastructure: Schools, parks, and local businesses.

  • Properties:

    • Types: Single-family homes, apartments, residential lots.

    • Prices:

      • Homes: Starting from $80,000 USD.

      • Apartments: From $60,000 USD.

      • Lots: Starting at $30,000 USD.

    • Features: Modest homes with potential for renovation or customization.

  • Amenities:

    • Services: Supermarkets, clinics, and community centers.

    • Transportation: Public buses and taxis provide easy access to downtown.

  • Ideal For:

    • First-time buyers or those on a budget.

    • Investors interested in long-term rentals.

    • Individuals seeking integration into the local community.

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4. Villas Morelos I & II

Overview:

Residential subdivisions offering a suburban feel with modern conveniences.

  • Location: West of Highway 307, north of Colonia Joaquin Zetina Gasca.

  • Characteristics:

    • Family-Oriented: Quiet neighborhoods ideal for families.

    • Security: Some areas have gated access with security.

    • Community Amenities: Parks, playgrounds, and communal areas.

  • Properties:

    • Types: Single-family homes, townhouses.

    • Prices:

      • Homes: From $100,000 to $250,000 USD.

    • Features: Private gardens, parking spaces, potential for expansion.

  • Amenities:

    • Education: Close to schools and daycare centers.

    • Shopping: Local shops and easy access to larger supermarkets.

  • Ideal For:

    • Families seeking a safe and community-oriented environment.

    • Retirees desiring a quiet lifestyle.

    • Investors in long-term rental properties.

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5. Aldea Ha

Overview:

A modern residential development focusing on sustainability and nature integration.

  • Location: West of the highway, near the entrance of Puerto Morelos.

  • Characteristics:

    • Eco-Friendly Design: Emphasis on green spaces and environmental conservation.

    • Modern Infrastructure: Underground utilities, paved roads, and contemporary architecture.

    • Amenities: Clubhouse, swimming pools, fitness centers.

  • Properties:

    • Types: Condominiums, single-family homes, residential lots.

    • Prices:

      • Condos: Starting from $130,000 USD.

      • Homes: From $200,000 USD.

      • Lots: Starting at $50,000 USD.

    • Features: Energy-efficient designs, smart home technology.

  • Amenities:

    • Recreation: Walking trails, parks, communal gardens.

    • Security: Gated access with 24-hour security.

  • Ideal For:

    • Buyers interested in sustainable living.

    • Families and professionals seeking modern amenities.

    • Investors looking for properties with appreciation potential.

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6. Punta Caracol

Overview:

An exclusive beachfront area known for luxury developments and boutique resorts.

  • Location: South of Puerto Morelos Centro along the coast.

  • Characteristics:

    • Luxury Living: High-end villas and condos with premium amenities.

    • Secluded Beaches: Less crowded, offering privacy and tranquility.

    • Resort Amenities: Access to spa services, fine dining, and beach clubs.

  • Properties:

    • Types: Luxury condos, villas, boutique hotel investments.

    • Prices:

      • Condos: From $300,000 USD.

      • Villas: Starting at $600,000 USD and can exceed $3 million USD.

    • Features: Private pools, rooftop terraces, beachfront access.

  • Amenities:

    • Recreation: Water activities, wellness centers, yoga retreats.

    • Services: Concierge, property management, 24-hour security.

  • Ideal For:

    • High-net-worth individuals.

    • Investors targeting luxury vacation rentals.

    • Those seeking an exclusive and serene environment.

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7. Bahia Petempich

Overview:

An area known for its upscale resorts and residential communities, located north of Puerto Morelos.

  • Location: Along the coast between Puerto Morelos and Cancun.

  • Characteristics:

    • Resort Community: Hosts several all-inclusive resorts and luxury residences.

    • Natural Beauty: Mangroves, coral reefs, and abundant wildlife.

    • Accessibility: Close to Cancun International Airport.

  • Properties:

    • Types: Beachfront condos, villas, resort-branded residences.

    • Prices:

      • Condos: Starting from $250,000 USD.

      • Villas: From $500,000 USD upwards.

    • Features: Access to resort amenities, high-end finishes, ocean views.

  • Amenities:

    • Dining and Entertainment: Gourmet restaurants, bars, and lounges.

    • Recreation: Golf courses, spas, water sports facilities.

    • Security: Gated communities with 24-hour surveillance.

  • Ideal For:

    • Buyers seeking resort-style living.

    • Investors in high-end rental properties.

    • Those valuing proximity to the airport and Cancun.

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8. Puerto Morelos West

Overview:

A developing area west of the highway, offering investment opportunities in land and new developments.

  • Location: West of Highway 307, extending towards the rural interior.

  • Characteristics:

    • Development Potential: Availability of large parcels of land.

    • Affordable Land Prices: Lower cost per square meter compared to coastal areas.

    • Future Growth: Infrastructure projects underway, including roads and utilities.

  • Properties:

    • Types: Residential lots, agricultural land, eco-friendly developments.

    • Prices:

      • Residential Lots: Starting at $20,000 USD.

      • Large Parcels: Prices vary based on size and location.

    • Features: Potential for custom homes, eco-projects, or investment holdings.

  • Amenities:

    • Services: Limited currently but expected to grow with development.

    • Natural Environment: Lush vegetation, cenotes, and wildlife.

  • Ideal For:

    • Investors looking for early-stage opportunities.

    • Eco-conscious buyers interested in sustainable projects.

    • Those wishing to build custom properties.

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9. Puerto Morelos South

Overview:

A serene area south of the town center, characterized by its natural beauty and tranquility.

  • Location: South of Puerto Morelos Centro along the coastline.

  • Characteristics:

    • Low-Density Development: Few properties, ensuring privacy.

    • Natural Attractions: Close to cenotes, botanical gardens, and ecological parks.

    • Peaceful Living: Minimal commercial activity, ideal for those seeking solitude.

  • Properties:

    • Types: Beachfront homes, eco-villas, land for development.

    • Prices:

      • Homes: From $300,000 to $1 million+ USD.

      • Land: Starting at $50,000 USD.

    • Features: Large lots, sustainable designs, off-grid living options.

  • Amenities:

    • Recreation: Nature trails, bird watching, exploration of Mayan ruins.

    • Services: Limited; residents may rely on nearby towns for amenities.

  • Ideal For:

    • Nature enthusiasts.

    • Investors in eco-tourism and sustainable living.

    • Those seeking a retreat from urban life.

4. Types of Condos Available in Puerto Morelos

Studio Condos

Features:

  • Size: Typically 300 to 500 sq ft.

  • Layout: Open-concept living with combined bedroom and living area.

  • Amenities: May include communal pools, gardens, and essential services.

  • Ideal For:

    • Solo travelers or couples.

    • First-time investors.

    • Short-term rentals targeting budget travelers.

  • 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, and kitchen area.

  • Amenities: Balconies, modern kitchens, access to building facilities like pools and gyms.

  • Ideal For:

    • Singles or couples desiring 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 with shared or en-suite bathrooms, larger living areas.

  • 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, often with multiple bathrooms and larger 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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4+ Bedroom Luxury Condos

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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5. Puerto Morelos Condo Market Overview

Market Trends and Statistics

The condo market in Puerto Morelos has been experiencing steady growth, making it an attractive option for investors and buyers alike.

​

  • Stable Growth: Over the past several years, condo values have appreciated by an average of 5% to 8% annually, reflecting a healthy and stable market.

  • Rental Market:

    • Occupancy Rates: Condos in Puerto Morelos enjoy an average annual occupancy rate of 65% to 75%, with even higher rates during peak tourist seasons.

    • Rental Yields: Depending on the type and location of the condo, investors can expect net rental yields ranging from 6% to 10%.

  • Buyer Demographics:

    • Foreign Investors: A significant portion of buyers are international investors from the United States, Canada, and Europe, drawn by the attractive returns and lifestyle benefits.

    • Retirees: Many retirees choose Puerto Morelos for its peaceful environment and lower cost of living.

    • Local Buyers: There is a growing trend of local investors purchasing condos to capitalize on the rental market.

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Condo Price Ranges

The price of condos in Puerto Morelos varies based on size, location, amenities, and level of luxury.

  • Studios: These units typically range from $60,000 to $120,000 USD. They are ideal for solo occupants or couples and are popular among first-time investors.

  • 1-Bedroom Condos: Priced between $80,000 and $200,000 USD, these condos offer more space and are suitable for singles or couples looking for additional comfort.

  • 2-Bedroom Condos: With prices ranging from $150,000 to $350,000 USD, these units cater to small families or investors targeting higher rental income from families and groups.

  • 3-Bedroom Condos: These spacious units are priced between $250,000 and $500,000 USD, ideal for larger families or those seeking a permanent residence with ample space.

  • Luxury Condos and Penthouses: High-end condos and penthouses start at $500,000 USD and can exceed this amount significantly. They offer premium amenities, stunning views, and are located in prime areas.

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Investment Potential and ROI

Investing in condos in Puerto Morelos can yield attractive returns, especially when considering rental income and property appreciation.

  • Studios and 1-Bedroom Condos:

    • Rental Income: These units can generate an annual rental income of approximately $8,000 to $15,000 USD.

    • Return on Investment (ROI): Investors can expect a net ROI of 6% to 8%, after accounting for expenses.

  • 2-Bedroom Condos:

    • Rental Income: These condos can bring in around $15,000 to $25,000 USD per year in rental income.

    • ROI: Net ROI for these units typically ranges from 7% to 10%.

  • Luxury Condos and Penthouses:

    • Rental Income: High-end condos can generate substantial rental income, often exceeding $30,000 to $60,000 USD annually.

    • ROI: Investors in luxury condos can anticipate a net ROI of 8% to 12%, benefiting from higher rental rates and strong demand.

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Factors Influencing Investment Returns:

  • Location: Condos located near the beach, in the downtown area, or within gated communities tend to command higher rental rates and have better appreciation potential.

  • Amenities: Properties offering premium amenities such as swimming pools, fitness centers, and concierge services are more attractive to renters and can justify higher rental prices.

  • Property Management: Effective management can optimize occupancy rates and rental income, positively impacting ROI.

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Considerations for Investors:

  • Market Demand: The steady influx of tourists and the growing popularity of Puerto Morelos as a destination ensure a consistent demand for rental properties.

  • Seasonality: Peak tourist seasons can significantly boost rental income; however, investors should plan for lower occupancy during off-peak times.

  • Expenses: It's important to factor in costs such as property taxes, homeowners association (HOA) fees, maintenance, and management fees when calculating net returns.

6. The Buying Process in Puerto Morelos

Engaging a Real Estate Agent

Benefits:

  • Local Expertise: Knowledge of market trends and condo 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: Most 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 Puerto Morelos?

Yes, foreigners can legally purchase condos in Puerto Morelos 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 Puerto Morelos?

  • 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 Puerto Morelos?

  • 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 $50 to $300 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 $2,800 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 Puerto Morelos 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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