Condos for sale in Mexico

Resource Box > MLS Mexico > www.multilistingservicemexico.com

Searches for luxury coastal property in Mexico by overseas buyers have increased by 32% since it was revealed that a 100 year restriction on foreigners buying by the sea is to be revised.

In particular real estate investors from the UK and German have increased their number of enquiries while Americans are also interested in buying over the border.

Mexico’s lower house of congress voted in April 2013 to loosen restrictions on foreigners buying property in the area, and since then international online firm LuxuryEstate has seen a huge increase in sales inquiries.

Changes are likely to make it much easier for foreign buyers and real estate agents expect the number of inquiries to rise again once the changes have been ratified.

The resort towns of Cancun and Playa del Carmen are set to benefit the most, with 57% of all property searches by UK residents centered on the state of Quintana Roo, in which they are located.

Mexico is emerging as a particularly popular destination for British visitors with nearly 20% growth in the first quarter of 2014 alone and the UK now ranks third in terms of numbers of visitors to the country.  International visitors to Mexico grew 6.8% in the same quarter overall.

To view properties in Quintana Roo you should visit MLS Mexico this is network of people Agents brokers and individuals that list property in a central location for people to search, for condos, apartments and beachfront land in Mexico.

If you are looking to sell your property there are buyers waiting in the wanted section check out the listing to compare the market value in your area.

Other helpful sites in the Quintana Roo are listing on Martindale

Buying Real Estate in Mexico

Resource Box > Merida Realty > www.meridarealty.com

Mexican Law: Property Ownership

Mexican Law provides for private ownership of land by foreigners, and its law is very specific about the way in which land rights should be transferred from seller to buyer, and also what type of lands are not eligible for public ownership. A Notary Public (see below) will guide you through the details of these, but generally:

• Property may be purchased and owned outright for residential use by foreign nationals outside of the 100km restricted land border zone, or outside of the 50km coastal zone;
• Inside of the restricted border/coastal zones, foreign nationals may own land through a fidecomiso (a trust) which is set up through a bank and provides for ownership of the land and property in all but name or by setting up a Corporation. See Below

The Mexican Constitution previously banned foreign nationals from owning property that was within the restricted border zones. This old law was intended to protect Mexican soil from foreign invasion.

Fideicomiso: Land Trusts

Because the Constitution cannot be altered in this respect, the Government introduced a system of land trusts, so that foreign nationals could invest in property inside of the 'restricted' zones.

So now, if you as a foreigner, want to buy a dream home with a Pacific beach view, you now can, except that it will be by means of a trust, set up through one of the main banks in Mexico.

The trust holds the deeds to the property, and you and/or other named persons which you specify are sole beneficiaries to the trust (and therefore, the property). You have full rights to do whatever you like with your property: it can be developed (in accordance with local planning regulations), rented, leased, sold, or given away. In other words, you own the property in all but name.

The trust enables you to name a beneficiary upon your death, and you do not need to have a Mexican will in order for your wishes in regard to the trust to be executed.

You do not have to be resident in Mexico to own property there, so there is no need to qualify for resident status under immigration laws in order to have a property investment in Mexico.

Mexican Law on property ownership is comprehensive and provides protection for the seller and the buyer in all property transactions, provided that the law is followed, and you ensure that all necessary documentation is present and that the procedures are adhered to. Your Notary Public is an important person in this process, and he/she will guide you.

Difference between Trust and a Corporation

Foreigners are welcome to invest in property along the coast, but there are restrictions. The most important restriction is contained in Article 27 of the constitution which states "that foreigners cannot own property within 100 kilometers (60 miles) of the border and 50 kilometers (30 miles) of the coastline." The government, however, provides two ways to get around this restriction - through the use of a Trust (Fideicomiso) or a Mexican corporation.

How Does the Trust Work? - Three parties are involved in the trust:

• The trustor (the owner of the original property)
• The trustee (which is the bank)
• The beneficiary (the person who will receive the benefits of the trust.)

The Trust, which in Mexico is called a Fideicomiso, does not give direct ownership to the foreign beneficiary. Instead, it establishes the legal basis by which the bank holds legal title to the property in order to act on the foreigners behalf. This trust deed assures the foreign buyer of all rights and privileges of ownership. The Foreign Investment Law, a Constitutional amendment created in 1973 and amended again in 1994, allows the trust to be established for a term of 50 years and is renewable any time during its existence, forever.

The Bank (trustee) holds the trust deed for the person who purchases the property (beneficiary). The property is not part of the bank's assets and cannot be liened or attached for any other obligations. You, the purchaser, are the beneficiary and have all rights of enjoyment of the property including the ability to remodel, lease, mortgage, pass to their heirs or sell the property at any time.

The Mexican government established the trust system as a protection for foreigners interested in owning property in Mexico. By making ownership pass through the trust process, the bank is required to check ownership, insurance, and liens against the property. There would be an automatic review of the transaction, thus ensuring:

• Valid Ownership
• No outstanding indebtedness of the Property

Bank Trusts may be granted and extended in 50 year periods. If you purchase property, the existing trust deed may be assigned or a new 50 year trust created. Trusts are renewable at any time by simple application. The costs to establish a fideicomiso trust vary from bank to bank. However, the range is approximately $1,000 to $1,500 U.S. dollars for the trust set up and about $300 to $500 U.S. dollars for each year's maintenance of the trust. These fees are paid directly to the bank that has your trust.

Bank trusts are established by a Mexican Notario (Notary), following the receipt of a permit by the Minister of Foreign Affairs. This procedure is routine due to the large number of foreign property owners. The forms are standardized and the entire process is usually completed by the notary as part of the closing procedures.

What does the Bank Do? - It is an important link between the foreigner and the government. The bank accepts full technical, legal and administrative responsibilities and protects the beneficiary's interests. While the bank is the technical owner of the property, they have a statutory responsibility to follow the beneficiary's (YOUR) instructions concerning the property. Therefore, the control of the property is in your hands - not the bank's.

What can the Foreigner Beneficiary Expect from the Trust Agreement?

• The beneficiary can occupy the property for the life of the trust.
• Title to the property can be transferred to the foreign beneficiary in the event that he acquires legal capacity to hold such property, or to any legally qualified person he/she may designate.
• The trust can also be heired to your family by naming them as substitute beneficiaries in the event of your death. The property can also be sold to a person legally authorized to own land or to a foreigner via a trust.
• The property may be rented with prior approval from the ministry of foreign affairs.

Beneficiaries are allowed to modify their property. Construction, in accordance to local zoning regulations, is permitted at the owner's expense.

Closing Procedures - Once your offer of purchase and sale has been accepted, the closing process begins. To validate the Offer of Purchase and Sale, a deposit (normally 10% of the purchase price) is required. The money is held either by your attorney, notario, real estate agent, or placed in an escrow account. These funds are held during the time needed to close. The balance is payable upon the signing of the trust deed at the office of the Notario. Most real estate agents have one or two notarios with whom they usually deal.

In order to obtain the trust deed, the notario will:

• Ensure the property is free and clear by checking the Land Registry Office. This is guaranteed by obtaining a non-lien certificate and tax statement from the treasury. Additional checks are made for outstanding utility bills and municipal taxes.
• Obtain a permit from the Minister of Foreign Affairs to establish the trust deed.
• Prepare all documents for both buyer and seller.

When the above has been completed, the notario will present your representative with a statement of remaining funds due and, once paid, will present the legal transfer papers to be signed by the seller. The entire closing process takes between 30 and 60 days.

The Closing Costs - Closing costs are paid by the Buyer and depend on the value of the property purchased. They include a transfer tax (ISAI) of 2% which goes to the Mexican government, an average of 2% for legal Notary fees, a registration fee of .05% of the assessed value of the property, fees for the tax certificate, title search fees and property appraisal, as well as miscellaneous office expenses.

The Seller pays all capital gains taxes and real estate fees. Capital gains taxes are 35% of the difference between assessed values at the time of purchase and sale, with adjustments made for inflation and capital improvements.

Capital Gains Taxes - As noted above, the seller pays all capital gains taxes. As a buyer you are eligible for a one time exemption from capital gains tax if you establish residency for 2 years after your purchase prior to selling.

To establish residency, you must have an FM3 (Resident Tourist Visa), and all the utility and phone bills in your name for 2 years. FM3 Visas are issued from Mexican Immigration. You can request the forms from Immigration which tells you everything you need to apply for the visa. They usually take 30 to 45 days to obtain, once submitted.

The Mexican Notary - In Mexico, certain attorneys are designated by the government as a Notary, and their services are required for the legal transfer of real estate. They are an unbiased, official representative of the government and have a fiduciary responsibility to both parties and sanctions the contract from a tax and legal point of view.

Property Taxes - Property taxes are very low here. The property tax, known as "predial" is a rate of .08% of the assessed value, paid every bimester. The assessed value is determined at the time of the sale. Historically, property taxes have always been low because they have never been perceived as a source of revenue for the government.How does the Corporation Work? - Ownership of property through a mexican corporation is an interesting and potentially lucrative alternative. First of all, as long as there are two or more parties to the corporation, a Mexican corporation can be wholly owned by foreigners - a Mexican citizen no longer need be part of a Mexican corporation to be valid. Secondly, a mexican corporation can own property outright, eliminating the need for a fideicomiso trust and their respective fees. This means that you, as sole owners of the corporation, own the property essentially in "fee simple," similar to the U.S.

Finally, by establishing the property in a corporation, you can then legally rent out the property, thereby generating attractive income if you are in a prime vacation destination such as Puerto Vallarta. Mexican corporations are set-up similarly to those in the U.S., with by-laws, articles of incorporation and the issuance of stock. You should discuss the pros and cons of forming a Mexican corporation with an attorney in Mexico who is familiar with the process.

Establishing a Mexican corporation for the purpose of purchasing real estate is relatively simple and can be accomplished within 1-2 weeks and generally costs from $1,500 to $2,500 USD, depending on the complexity and number of partners involved.

Resource Box > Merida Realty > www.meridarealty.com

MLS Mexico takes on the sole marketing of EL Molon beachfront land in Mexico

MLS Mexico has signed a deal to market
EL MOLON

Location Between Isla Aquada and Sabancuy Km 62,6 Champeche

Titled property and free to sale

Paperwork have been started for uso de suelo for the whole land 

The lots have Electricity and water

650 hectares (1591 Acres = 69,965,417 ft2)

3075 linear meters sea front (10088 feet) of wide white sandy beach

2100 meters deep to the lagoon in the back (68899 feet)

75 meters (246 ft) - 120 meters (393 ft) deep from the water (highest tide) to the road

Price: 18 450 000 USD 

Lots for sale:

We are going to do lotification of 10 lots with in the next few weeks, it will be from north part of property,as you drive down the coast from Sabancuy.  20 meters (65 ft) beachfront x 2100 meters (6561 ft) deep

75 meters (246 ft) - 120 meters (393 ft) deep from the water (highest tide) to the road

Building permits can not be included as discount.

Cash client gets 10% discount only when buying 2 lots

Financing:

50k down and rest in 4 years 7% interest yearly and if delay in mothly payment comes 12% for monthly payment per week

Selling price 145 000 USD this is price of 5 first smallest lots

Website coming soon EL MOLON

New MLS Indonesia launched Feb 2014

Why Multi Listing Service Systems are so important the the property market in Indonesia 

Thats why MLS Indonesia stands out in the crowd.

Summary: The multi listing service systems provide many benefits to individuals as well. Here we have listed all the information that you need to know about these systems. 

Resource box: Being part of a multi listing service has many benefits for you as an agent. Not only you get exposure to better deals but your commission rate is also increased. 

If you have ever bought a property or dealt with any kind of real estate deal then you must have heard of the multi listing service and system. With the real estate markets getting more dynamic and brutal it is very important to know about the multi listing service and the way you can use it. May be you already have an idea of what MLS is all about. For those who do not have any knowledge on what the MLS is and why it is used, we provide some basic information. 

Multi Listing Service Systems  

The MLS or multi listing systems or services is a group of services which are provided to the participant of the system in various forms of real estate deals. The participants of such a system are the real estate agents and brokers and they get many benefits by being a part of the MLS. They get  better property listing opportunities as well as more commissions on each deal. The terms and conditions of a MLS can differ as per the local real estate laws and the participants of the system. If you are also an agent who is dealing with real estate listing and selling then being a part of local MLS is going to benefit you a lot. 

Often we are asked by people, usually by the property agents and brokers about why the use of multi listing systems is advisable. We can give you many reasons about why you should use them and here we list the major benefits.

Benefits of Multi Listing Service Indonesia

The first and foremost importance of a MLS is that it provides you potential and real estate centric place to offer deals and get customers. There is no crowded market for the property listing and dealings. And the members of the listing system are able to list the properties and sell them using MLS. Therefore if you are an individual then opting for the services of an agent who is a part of any MLS will help you get most investments for your property. 

The description which is provided on the multi listing systems about the various aspects of a property is most concise and accurate. The pictures, area information, dimension specifications and what makes a property special is all shared on these systems. This helps you as a customer getting only genuine real estate deals and saves your time. 

Also when the property is listed on MLS there are various parameters involved for filtering the results like price range, number of bedrooms, additional amenities and a lot more. This way you property listed on MLS gets most attention. Even the more frequently the data is updated about a property or the agent on these systems the higher your property appears in the list. 

The best part of making use of the multi listing systems is that you do not just get the service of only one agent if your property is listed on these systems. You get attention of hundreds of agents in the local area who are participants of the service of MLS. 

Our system of websites allows a user to place a property listing in Jakarta and it is then links to several other MLS Websites run by our Company MLS Global. With no effort on the users part the listing is placed on MLS Oceania and the MLS Global

These are some major benefits of these systems. Go ahead and be a part of a MLS for better understanding and reaping the advantages. 

Check us out at www.multilistingserviceindonesia.com

Facebook MLS Indonesia

http://mls-global.blogspot.mx/2014/02/buying-real-estate-in-mexico.html

Manila, Jakarta top for residential property in 2014

Southeast Asia’s property markets are poised to see a surge in investment in 2014, according to a survey of 250 regional real estate developers and investors conducted by the Urban Land Institute. The 2014 “Emerging Trends in Real Estate: Asia-Pacific,” released today in Hong Kong, listed Manila as Asia’s top spot for residential-property development in the coming year. Jakarta came in third, Bangkok fifth and Ho Chi Minh City 10^th.

“This year you have a situation where the economic fundamentals are weaker, China has not been as strong and you have the prospect of tapering in the U.S. You would think investors would be less interested in picking up real estate, but that hasn’t happened,” said Colin Galloway, the forecast’s principal author. “But investors are looking at smaller, emerging markets to try and get the returns they can’t get in traditional core markets.”

In its eighth year, “Emerging Trends,” prepared by the Urban Land Institute and Pricewaterhouse Coopers, has emerged as one of most widely read forecasts in the real estate industry. This year, 250 private developers, real estate firms, builders, bankers, REIT executives and institutional investors were surveyed, with personal interviews conducted with 120.

The trends for 2014 follow two main themes: Japan has re-emerged as the region’s top target for new investment, and the combination of shrinking capitalization rates, rising prices and looming taper-related interest-rate hikes has investors looking toward emerging markets for the best returns.

The residential sector, the report concludes, will trail the office and industrial segments in popularity among investors in 2014, due to higher interest rates, already-high prices, and macro-prudential measures being taken in several countries to cool the property market. Singapore, Kuala Lumpur and Hong Kong lead the list of markets that are “particularly exposed,” Galloway wrote.

Top picks

There are bright spots for Southeast Asia, with Manila emerging as this year’s top investment pick.

“Of all the markets, that’s the one where people are looking to get in most,” Galloway said. “It’s easy to function there on a cultural basis. The levels of corruption are not as high as they once were. It’s has an English-speaking, educated workforce, and there is new interest in the Philippines from multinational companies looking to set up back-office facilities there, which drives demand from expatriates.”

The reason for Jakarta’s popularity, however, isn’t as easy to understand.

“It’s a bit of a mystery, really,” Galloway said, admitting that when Indonesia topped ULI’s 2013 list of investment picks, “we thought it was a fluke.” But when 2014’s results were tabulated, there again was Jakarta sitting at No. 3, behind only Manila and Tokyo.

“Indonesia is ‘difficult to operate in for lots of reasons … It has immense potential, as far as the whole outline of land development is concerned, but the problem that prevents us from going in is that of getting a clean land title.’ Beyond that, there is little incentive for local developers to partner with foreigners,” Galloway wrote, quoting one of more than 50 developers and investors he personally interviewed.

But investors are not betting on Jakarta “on blind promise,” Galloway said. “It has a strong economy, the consumer story is very good and it’s very short on stock. It has the highest rate of capital appreciation in Asia. And, despite the shortage of stock and lack of quality, if you are able to get in, you can do well.”

Other Southeast Asian residential-property markets

• Bangkok (5^th) – Survey respondents listed the Thai capital among their favorites more frequently this year, but experts remain guarded. The report classifies Bangkok as a “relatively less-competitive, higher-return market than Asia’s more-conventional destinations,” but cites risks in finding quality buys. Prices and rents have been rising and vacancy rates falling, however, so there’s upside in buying from an investment stance.

• Ho Chi Minh City (10^th) – Clobbered by two years of soaring inflation and bad loans, Vietnam’s largest city likely has hit bottom and investors say now is the time to get back into the property market there. “Residential real estate is a more-attractive investment than before,” the report states. Interest rates and gold prices are down and, a despite a severe shortage of quality stock, the pool is expected to increase 50 percent by 2121.

• Kuala Lumpur (15^th) – Investors and developers dealt Malaysia the biggest hit in this year’s survey due largely to a huge glut of supply. “While there is now less supply in the pipeline, there has been a speculative element to recent construction activity, especially in high-end residential projects. As one fund manager said, “last time I went to Kuala Lumpur, you see those residential buildings, empty blocks after blocks.”

Manila, Jakarta top for residential property in 2014 - 
See more at: http://www.property-report.com/manila-jakarta-top-for-residential-property-in-2014-32732#sthash.UtcLVeRI.dpuf
View property for Sale in Indonesia at www.multilistingserviceindonesia.com

The Market Trend

Asia Pacific

In 2013, real estate transaction volumes hit their highest level since 2005, totalling USD90.4 billion (THB 2.98 trillion), a rise of 24.2 percent against full-year 2012 rates, according to a report from CBRE. The increase in volume was led by strong investment activity in Australia, China and Japan with these three markets each likewise recording their highest annual total since 2005. Japan was the standout performer with transaction volume surging a massive 110.5 percent year-on-year to USD23.7 billion (THB 781.39 billion) thanks to the implementation of stimulus policies that boosted market sentiment. Australia and China grew by 35.5 percent and 17.9 percent year-on-year, respectively.

Indonesia

Head of the developers’ association Indonesian Real Estate (REI), Eddy Hussy, announced that growth in the property sector would be held back 10 percent in 2014, New regulations, including changes to the Loan to Value policy and the institution of waiting periods for ordered houses are among the issues impacting real estate in the coming quarters. Hussy contends that regulations designed to reduce speculation will ultimately harm consumers speculation practices in the country’s robust property sector as it would eventually disadvantage consumers.

UK

Prime Central London’s buoyant rental market is experiencing a shortage of supply for family housing, according to a report from W.A. Ellis. Lucy Morton, senior partner and head of lettings at the real estate agency commented that “In the family house market, we are currently experiencing a shortage of supply, and we are encouraging investors to purchase family houses to satisfy the current demand. Due to the shortage, we are anticipating that rents will increase in this area of the market.”

- See more at: http://www.multilistingserviceindonesia.com

MLS Philippines Best tools available for real estate agents

Summary: The multi listing systems are now available online as well. These systems are very helpful tools to real estate brokers as well. 

Resource box: The multi listing service or MLS is very beneficial for real estate agents. They help in expanding the business as well as get most rewarding deals. 

With the online multi listing service or system websites, it is very easy for agents and brokers to list their properties for selling and buying. The so called multi listing service or MLS is not an abbreviation which is known to everyone. Many users are not aware of what the multi listing services are about. For them we are going to provide detailed information about MLS websites and what are their benefits. We will also list some of the points that you must keep in mind while dealing with such websites. 

The Online MLS Services of MLS Philippines

The multi listing system or service can be regarded as the suite of various services which are developed for the real estate brokers. These services are designed to offer the real estate brokers and agents a better option to coordinate with each other in regard of various deals. These services enable them to offer better service their clients, customers and public.
These onset of these services in the United States is very primitive and according to the extract from the US National Association of Realtors, “ In the late 1800s, real estate brokers regularly gathered at the offices of their local associations to share information about properties they were trying to sell. They agreed to compensate other brokers who helped sell those properties, and the first MLS was born, based on a fundamental principle that's unique to organised real estate: Help me sell my inventory and I'll help you sell yours.” This is how the multi listing systems came into existence. There are many benefits of these listing systems.
In terms of business conduct, the contractors or brokers who are a part of the MLS get to avail the compensation or commission rate higher than the normal. The commission rate can however be negotiated as per the terms and conditions of a deal between the listing broker and MLS participant brokers. 

Some points to keep into account 

Now you know what the multi listing systems are. They are not actually as much beneficial for the individual customers but for the brokers they can be very advantageous. They help the brokers to be part of a group of the local real estate brokerage community. This way, they can expand their services and also benefit their customers by offering more profitable deals. 

Some of the important points that agents and brokers should keep in mind while dealing with such a system are: 

• Always keep your data updated on the MLS to get more deals 
• Do not try to list the same property at many places as MLS maintains a common database for individual agents 
• Also list all your properties with specific description to make them more appealing to customers 
• If as a real estate agent you have any distinct recognition or award then do mention it on your MLS profile 

These are some very important points that you should keep in mind. This will enable you to make most of the multi listing systems and you will be able to expand your services easily.  

Check out our website at www.multlilistingservicephilippines.com