Tulum, Mexico, is a popular destination known for its white sand beaches, incredible cenotes, archaeological sites, and unique culture. It is no surprise that many people are considering buying a condo in Tulum, either as a vacation home or an investment property. However, buying a condo in a foreign country can be a daunting task, and there are many factors to consider before making a purchase.
This guide aims to provide you with all the information you need to know about condos for sale in Tulum. It will cover the different types of condos available, the Tulum real estate market, and factors to consider when making a purchase. You will also learn tips on finding the right condo, financing your purchase, and closing the deal.
The Tulum condo market has experienced significant growth in recent years, with a wide range of options available to buyers. Whether you are looking for a new development or a resale property, you will find many options to choose from in the listings section. However, with so many options available, it is essential to consult with a real estate advisor, to help with your research and find the property that covers your needs.
By the end of this guide, you will have a comprehensive understanding of the Tulum condo market, as well as the tools and knowledge needed to make an informed decision about your purchase. So, let's dive in and explore everything you need to know about buying a condo in Tulum, Mexico:
Tulum, Mexico, has been experiencing significant growth in its real estate market, with the demand for condos on the rise. Located on Mexico's Riviera Maya, Tulum offers an strategic location within a natural environment between the caribbean sea and the Mayan jungle. These factors, combined with a growing tourism industry, have contributed to the popularity of Tulum as a destination for real estate investment.
Tulum is divided into differente areas such as: Downtown Tulum, Aldea Zama, Selva Zama, La Veleta, Region 15, Region 8, Riviera Tulum, to name a few. The beachfront area of Tankah Bay offers a range of upscale condos and villas, with stunning ocean views and easy access to the beach. The hotel zone is the most popular area for tourists and offers a wide range of options for entretainment, including beach clubs, restaurants, and shops. Notice that this area is mainly for hotels and doesn't have any residential development.
The Tulum condo market offers a range of options for buyers, including new development and resale properties. New developments ofer studio units starting from as low as $100,000 USD, one-bedroom units for around $150,000, and two-bedroom apartments goes for $250,000 USD and on. Prices can vary significantly depending on the location, type of property, and level of luxury. Resale properties are also available, ranging from small one-bedroom units to larger, more luxurious options.
The Tulum condo market has experienced growth in recent years, with an increase in demand from both local and international buyers. This growth can be attributed to several factors, including the natural beauty of the area, the growing tourism industry, and the lower cost of living compared to USA and Europe.
Schedule a call with our team of investment advisors. We specialize in selecting properties that generate 10% to 20% net ROI per year and solid capital appreciation.
Our team has access to a network made of the best property managers, lawyers, and developers in Tulum.
We have been investing in Tulum for over 5 years and have developed a safe and easy method that will help you get started with ease.
Tulum is the fastest growing destination in Quintana Roo. In 2021 it surpassed occupancy rates of giants as Cancun and Playa del Carmen. Its fast developing infrastructure makes it a great investment opportunity.
We are here to represent your interest, we specialize in selecting properties that secure excellent capital appreciation.
Buying a condo in Tulum can be an exciting and lucrative investment, but it's important to carefully consider all factors before making a purchase. Here are some key factors to keep in mind when buying a Tulum condo:
Location: The location of your condo is a critical factor to consider. The exclusive community of Aldea Zama Tulum is the most popular for vacationers. The exclusive development of Selva Zama will offer privileged location, the closest to the beach. Areas such as Holsitika, La Veleta and Region 15 are the prefered ones for digital nomads and longer stays. The town center offers a more affordable option, but it may be further away from the beach and amenities. Consider your priorities and choose a location that suits your needs.
Amenities: The amenities offered by a condo can significantly impact its value and appeal. New construction developments often offer a range of amenities, including rooftop pools, fitness centers, green areas, coffee shops and onsite restaurants. Resale properties may have fewer amenities, but they can offer more unique features such as a private pool or designed spaces with unique style.
Security: Security is an essential factor to consider when buying a condo. Look for properties with secure entrances, gated community or 24-hour security. This will provide you with peace of mind and protect your investment and guests.
Developer Reputation: If you are considering a new development, research the reputation of the developer before making a purchase. Look for developers with a track record of quality construction, timely delivery, and excellent customer service. This will help ensure that your investment is secure and that any issues that may arise will be dealt with promptly.
Architectural project: One important factor to consider when purchasing a Tulum condo is if the project is preserving endemic vegetation. Many developers in Tulum use zapote wood, chukum and other natural materials, which adds to the overall aesthetic and authenticity of the building. The exact combination of natural materials used in the construction can reduce its environmental impact and increase its visual appeal. When reviewing the architectural plans, it's important to consider how the architecture reflects the natural beauty and heritage of the Mayan Culture, and how it can provide a seamless connection to nature for the residents.
Financing: If you are planning to finance your purchase, it's important to research the options available to you. Mexican banks offer financing to foreign buyers, but the rates vary between 7% to 9%. We recommend to rise financing in your own country, this could be by using a Equity line of credit, or private lenders. Also when buying new construction you can benefit from developers finance, usually up to two years.
Property Management: If you plan to use your condo as a vacation rental, it's important to consider property management services. Property management companies can help you with everything from marketing your property to handling maintenance and repairs. Learn more about a company with a strong reputation and experience managing vacation rentals in Tulum.
Rental Potential: Tulum is a popular tourist destination, and vacation rentals can offer an attractive return on investment. However, it's important to research the rental potential of your property before making a purchase. Our team can provide you with accurate data on rental rates according property type and location.
Legal Considerations: Buying a condo in Tulum as a foreigner involve some legal procedures. We work with reputable real estate attorneys who will guide you through the process and ensure that your investment is secure. Some key legal considerations include title searches, due diligence, and setting up a Fidelcomiso or Mexican corporation.
Resale Potential: While you may be buying a condo for personal use, it's important to consider its resale potential. Look for properties with features that will appeal to future buyers, such as proximity to the beach or key locations. We help our clients find properties with the best potential for capital appreciation.
By carefully considering these factors, you can make an informed decision when buying a Tulum condo. It's important to do your research and work with a reputable real estate agent to ensure that your investment is secure and meets your needs.
Here are some frequently asked questions about purchasing a Tulum condo:
What is the current state of the Tulum condo market?
The Tulum condo market is currently experiencing steady growth, with an increasing number of buyers seeking out vacation homes and investment properties in the area. As a result, prices have been steadily rising in recent years.
What kind of return on investment can I expect from a Tulum condo purchase?
The return on investment for a Tulum condo will depend on a number of factors, including the purchase price, rental income potential, and market conditions. However, many buyers have seen strong returns on their investments in recent years. At Tulum Land & Property we focus on finding properties that can generate 10% to 20% ROI per year.
How do I finance a Tulum condo purchase?
Financing options for a Tulum condo purchase may include a mortgage, cash purchase, or financing through the developer. It's important to consider all options and work with a qualified financial advisor to determine the best approach for your individual situation.
How can I ensure that a re-sale unit is in good condition before purchasing?
Before purchasing a re-sale, it's important to conduct a thorough inspection of the property to ensure that it is in good condition. This may include a review of the property's structural integrity, electrical and plumbing systems, and any potential maintenance issues.
What should I know about closing costs when purchasing a Tulum condo?
Closing costs are typically 7% of the property price. This includes the acquisition tax, recordation fee, certificate of no liens, municipal appraisal, legal and closing fees, and public notary fees. The yearly estate tax in Mexico is typically 0.1% of the purchase price. HOA fees typically start from $2.5 USD per square meter per month depending on the amenities included. The cost of furniture and appliances must also be considered in your budget. Our professional team can help you understand these costs and find you an affordable opportunity, schedule a call with us to get started.
Can I self-manage my Tulum condo rentals, or do I need a property manager?
Yes, you are free to manage the administration of your condo rentals yourself if you wish to do so. However, it's important to keep in mind that if you're looking to maximize your results and income, working with a property manager is highly recommended. A property manager can help you list your property on multiple booking platforms, work with dynamic pricing strategies, and handle maintenance, check-ins of guests, and last-minute problems.
What should I know about the legal requirements for purchasing a Tulum condo?
In order to purchase a Tulum condo, non-Mexican buyers must obtain a Mexican real estate trust or fideicomiso, which allows them to hold title to the property. It's important to work with a qualified attorney to ensure that all legal requirements are met during the purchasing process.
Can I contact with a Tulum Real Estate Agent?
Yes, you can schedule a phone call with a local agent via this online form. Our advisors have bought land and buildings in Tulum. We have been through the process first-hand and are best-placed to answer any questions you may have about your future investment property.