Yucatán has become one of Mexico’s most attractive regions for real estate investment. However, understanding Yucatán Property Costs is essential before making a purchase. While prices are generally lower than in areas like Los Cabos or Riviera Maya, there are still important expenses that buyers should anticipate. To clarify, this includes both purchase costs and ongoing ownership expenses.

Initial Purchase Costs

First and foremost, buyers should consider taxes and legal fees. For instance, a municipal acquisition tax is charged, usually between 2% and 6.5% of the property’s value, depending on the location. Additionally, there are costs for setting up a trust (if the property is in the restricted zone), which may include a $1,100 permit from the Ministry of Foreign Affairs. In addition, notary public fees usually range from 1.5% to 2% of the property’s value.

Other Legal and Administrative Fees

Besides taxes, there are additional expenses such as appraisal fees, property registration rights, and attorney fees (if hired separately). Moreover, if the buyer requires surveys or architectural studies, these will also affect the total investment. As a matter of fact, all these services vary depending on the property type, its location, and complexity of the transaction.

Annual Costs of Ownership

Owning property in Yucatán is relatively affordable compared to other countries. For example, the annual property tax is quite low. What’s more, if the purchase was made through a trust, buyers should also budget around $600 USD per year for bank administration fees. Altogether, these costs are minimal when compared to the long-term value of the investment.

Final Considerations

Understanding Yucatán Property Costs allows buyers to plan realistically and avoid surprises. All in all, the region offers excellent value, low maintenance costs, and a high quality of life. Therefore, it is essential to work with a notary public who can explain each expense and provide legal clarity from start to finish.