Playa del Carmen is a beautiful resort town located on Mexico’s Caribbean coast, which has become a popular destination for tourists and retirees looking to enjoy sun, sea and a relaxed lifestyle.
The city has a wide variety of housing options, from small apartments to luxurious beachfront villas. But what is the average price of a house in Playa del Carmen? Read on to find out!
- This article may interest you: How to invest in Luxury Real Estate in Playa del Carmen?
How much does a house in Playa del Carmen cost?
The average price of a house in Playa del Carmen varies depending on the location, size, quality of construction and additional services offered by the property.
According to the latest real estate market reports, the average price of a house in Playa del Carmen is around $2,500,000 MXN (about $130,000 USD). However, this price can vary significantly depending on the characteristics of the property.
The cheapest houses in Playa del Carmen are usually priced around $1,000,000 MXN (about $50,000 USD), although these properties are usually small in size and are located far from the beach or tourist centers. On the other hand, the most luxurious and high-end villas can cost several million dollars.
In addition to the price of the property itself, it is important to consider other costs associated with buying real estate in Playa del Carmen. This may include property transfer taxes, notary fees, maintenance and repair costs, as well as home insurance costs.
How much are the property taxes in Playa del Carmen Mexico?
Property taxes in Playa del Carmen, Mexico vary depending on the cadastral value of the property and its location.
Below are the main taxes that property owners in Playa del Carmen must pay:
- Property Tax
This tax is paid annually and is calculated based on the cadastral value of the property. The cadastral value is determined by the municipal government and is usually lower than the actual market value of the property. The property tax in Playa del Carmen can range from 0.08% to 0.16% of the cadastral value of the property.
- Tax on Real Estate Acquisition
This tax is paid when purchasing a property and is equivalent to 2% of the value of the property or the sale price, whichever is greater. This tax is paid before the Public Registry of Property and Commerce.
- Income Tax (ISR)
Owners of a property who rent it are required to pay ISR on the income obtained from the rental of the property. The ISR percentage to be paid varies according to the amount of income received.
It is important to note that property taxes in Riviera Maya and Playa del Carmen may be subject to change by the municipal or federal government. Therefore, it is recommended that property owners consult a tax advisor for updated information on taxes and tax obligations related to the property.
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