Acapulco Property Market and Real Estate Guide
(Acapulco, Guerrero, Mexico)
The mention of Acapulco brings images of beautiful beaches, sunny weather and sparkling blue ocean water, and is a veritable vacation paradise for millions of visitors each year. Located on the southern coast of Mexico, Acapulco has earned a reputation as one of the premiere spots for relaxation, and at times, decadence.
The city caters to tourism, and although many of the luxurious and lavish high-rises and condos in Acapulco can be very pricey, there is an abundance of affordable places to live as well. Purchasing property here has become increasingly popular during the past 20 years. However, the laws regarding non-nationals buying property in Mexican coastal areas make the undertaking more laborious.
Serviced apartments are everywhere, with a range of prices for those who plan on spending a year or more in the city. The resort area contains a high proportion and is divided into two main zones - the affordable north and the state-of-the-art south.
Renting Serviced Apartments
Similar to other popular beach resort destinations in Mexico, Acapulco has a large choice of serviced apartments. Fierce competition for business makes for some great offers, and most of the establishments offer typical 21st-century amenities, such as high-speed Internet, round-the-clock service and secure parking.
You should be prepared to pay at least two months' worth of rent prior to moving in, which includes the first month's rent and a security deposit, although some establishments may charge more. The security deposit is fully refundable upon completion of the lease. Most agreements in Mexico are for one year at a time, with the landlord reserving the right to increase the rent in each successive year.
Buying Apartments and Houses
Mexican law prohibits non-nationals from purchasing property within 100 km / 62 miles of the border or 50 km / 31 miles of the coast, without the aid of a Fideicomiso or Bank Trust. While this is not necessarily difficult, be prepared to pay additional fees for this requirement, in addition to the 15 percent, on average, interest rate which banks in Mexico usually charge for loans.
Having made that caveat, property-buyers may be best served by buying a condo in Acapulco, as these are affordable, even with a beach frontage. Houses are also for sale, although they may be a little more difficult to come by, and are usually quite expensive.
Real Estate Agents
Quality representation while buying or leasing property, essential in any country, is of particular import here due to legal issues regarding non-nationals owning land in restricted areas. As there is no regulation of the Mexican real estate industry, anyone can become an agent. Therefore it is highly recommended to work with a company which is registered with the Asociación Mexicana de Profesionales Inmobiliarios (AMPI).
Check out the following Acapulco real estate agents:
Ron Lavender Realty
Address: Avenida de los Deportes 13, Club Deportivo, Acapulco, 39390, Mexico, MX
Tel: +52 744 484 7000
This family-run real estate company has been doing business in Acapulco for almost 50 years.
Address: Alonso Martin No. 43, Fracc. Magallanes, Acapulco, 39390, Mexico, MX
Tel: +52 744 485 9090
Century 21 is an international agency with branches all over the Americas. The agents in Acapulco will find the best living arrangements to suit your needs.
Address: Avenida de los Deportes 13, Fracc. Club Deportivo, Acapulco, 39390, Mexico, MX
Tel: +52 744 218 0941
Email: via website
Odilon Bravo has expert knowledge of the local real estate market and can help you find a suitable home.