Cozumel Property Market and Real Estate Guide
(Cozumel, Quintana Roo, Mexico)
Many people have a fantasy about living on a beautiful island, and those who are actually fortunate enough to live in Cozumel soon understand why the reality is not unlike a dream. Millions of visitors come to this spot off the eastern coast of the Yucatan Peninsula each year for the beautiful beaches, snorkelling and sunny climate, most of whom wish they could find a way to live here forever.
The principal city on the island is San Miguel, the most popular area for those who wish to stay here for an extended period. The difficulty in finding an affordable place to live is mainly due to geographic constraints, since the island is only relatively small. Nevertheless, there are homes available for purchase, although as one might expect, the land value is extremely high.
Serviced apartments in San Miguel are much more prevalent, although these too tend to be on the expensive side. Regardless, this seems to be the primary choice among non-Mexican residents, as it bypasses the restricted-zone limitation of purchasing land on the country's coast, unless through a Fideicomiso (real estate trust).
Renting Serviced Apartments
Cozumel has a wide variety of serviced apartments available for long-stay visitors. Prices range from moderately expensive to very pricey, with the vast majority of residences affording luxurious amenities.
When you decide on a furnished apartment and are ready to sign the lease, be prepared to pay the equivalent of two months' rent prior to moving in. This comprises the first month's rent, plus a security deposit, refundable on completion of the lease. In addition, leases are usually signed on a yearly basis only, with the landlord having the right to increase the rent.
Buying Apartments and Houses
Opportunities to buy property are very limited in Cozumel, although it is possible if you are truly set on owning your own home. The majority of properties are costly and prices which seem too good to be true probably are.
As previously mentioned, if you wish to purchase property here, be aware of the requirement of a Fideicomiso to finance your loan, and you should also take note that the banks in Mexico charge at least a 15 percent rate of interest on loans. In addition, you will need to obtain a permit from the country's foreign relations office prior to your purchase. This is relatively inexpensive and will take one week to process.
Real Estate Agents
In Mexico, the real estate industry is not regulated. For your protection, it is highly recommended that you use an agent registered with the Asociación Mexicana de Profesionales Inmobiliarios (AMPI).
Check out the following Cozumel real estate agents:
Cozumel Living Real Estate
Address: Calle 23 Sur 1488, Corpus Christ, Cozumel, 77600, Mexico, MX
Tel: +52 987 869 2345
Cozumel Living has a long history and experience with real estate in the city, as well as with Mexico's laws regarding land purchases.
Re / Max
Address: 10 Avenida Sur 1199, Entre 17 y 19, Cozumel, 77600, Mexico, MX
Tel: +52 987 869 1234
Re / Max is an international agency with a branch in Cozumel which finds condos, homes, and townhouses for individuals, couples, and families.
Cedral Caribe Realtors
Address: Avenida Rafael Melgar 602-1A, Edificio Colon, Cozumel, 77600, Mexico, MX
Tel: +52 987 869 1690
Email: via website
This family-owned agency can provide expert advice regarding property for sale in the area.