Mexico Real Estate

The Cozumel real estate market is effected by several factors which include amongst many others, hotel occupancy rates, the ecological environment of the island, and the cruise boats that visit the piers from this Mexican Caribbean islandBelow are short updates on activities this past month that are effecting the island but also the Mexico real estate market as a whole.

During the Easter vacations, the hotel occupancy rates arrived to nearly 80% Currently the island has approximately 3,522 units in inventory for the hotel industry People comment that the world economic situation has reduced the normal rates but also pointed out that with the gain of the dollar against the peso, this has regained opportunities given the fact that tourists have more pesos to spend It is estimated that each hotel room guest spends approximately $100 usd while a cruise ship tourist spends nearly $80 usd

Another update is in regards to the project of the recuperation of the beaches in Cancun, Playa del Carmen and the Cozumel Island The mayor of the municipality met withthe governor this month to advise that the island is not against the project of restoration of the beaches, but is searching for an alternative area where they plan to extract the sands The current project outlines an area on the norther part of Cozumel where they plan to dig up fresh sand The project calls for the restoration of 7 million cubic meters of sand to be sucked up from the ocean floor off of the island and blown back to the beaches throughout the cities of Quintana Roo

The news that is on front page throughout many parts of the world is the virus outbreak called the swine flu Here on the island, and in the entire state of Quintana Roo, there have been no reports of anyone having been infected The federal government has been aggressive on their response and their actions to prevent further spread of this flu and have closed all schools throughout the entire country until May 6th Cruise ships coming to Cozumel have also been postponed for the immediate future until the federal Secretary of Health gives the green flag They expect the ports to be open if all goes well within 7 – 14 days At the same time, as the government has taken correct steps in the prevention of the spread of the virus, the local, state, and federal government are already preparing action plans and marketing campaigns to be initiated to support the re surge of the important tourist industries

TOP Mexico Real Estate NETWORK; "Mexico's Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!"

Region:  Playa del Carmen Real Estate  Thomas Lloyd Graduate from Purdue University Business School with a degree in Management/Financial Option Investment.  He has been living, investing, and working in Mexico for over 15 years.  A Mexican certified & licensed realtor, he is the current president of TOPMexicorealestate NETWORK     "Our experience at work protecting your interests"  (512) 879-6546.

A couple of weeks ago, we had an interesting question be sent to our panel of experts The seller of a property wrote to ask,

Q. “What happens when I make some profit on the sale of Mexico real estate, we paid the Mexico capital gains tax, do we still need to pay taxes on the capital Gains in my home country too

A. Linda Neil from Linda Neil Properties in the La Paz real estate region advises the following “If you have property in a Mexican bank trust it is necessary to file a form annually with the US IRS and, yes, the profits or losses from the sale of your Mexican property must be declared on your US return. It is important, however, to obtain the tax declaration made in Mexico to be presented with your US return to obtain a credit or deduction for the Mexican tax paid.”

A. Ivan Castillo regional director and practicing Mexico real estate lawyer from Stewart Title answers” I m not an expert on taxes out of Mexico, nevertheless I don t think there is double taxation. If you pay Capital Gains in M xico and it is properly documented, the receipts can be used in the US in order to avoid paying taxes again.”

A. Cozumel Capital broker/owner Rita Sheese who works in the Cozumel real estate market outlines the following about these taxes “If a property in Mexico is sold, the capital gain realized by the seller (whatever nationality) is subject to Mexican capital gains tax. Then, the American seller when declaring that income in the states, would also declare the taxes that were already paid on this capital gain in Mexico Formal tax treaties exist between the US and Mexico to avoid the taxpayer paying double tribute, and so what you have already paid in Mexico will essentially be deductable from what is due in terms of US capital gains tax.

For more reading material click here Mexico Real Estate Questions and Answers

TOP Mexico Real Estate NETWORK; "Mexico's Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!"

Region:  Playa del Carmen Real Estate  Thomas Lloyd Graduate from Purdue University Business School with a degree in Management/Financial Option Investment.  He has been living, investing, and working in Mexico for over 15 years.  A Mexican certified & licensed realtor, he is the current president of TOPMexicorealestate NETWORK     "Our experience at work protecting your interests"  (512) 879-6546.

We pleased to announce the Cozumel Real Estate area's messenger of peace,  "Zamna" arrived in Santander, Spain, on the afternoon of Saturday, October 3.  The ship was received with a joyous celebration of about 4500 residents, attended by city officials, thousands of flags waving Peace and especially enjoyed the presence of Angel Garcia Rodriguez, winner of the "Prince of Asturias Award for Peace", who immediately associated himself with the actions taken in Cozumel to promote Peace and announced his interest in the organizing First International Congress for Peace in the  Cozumel Real Estate area.

The ship arrived at 5:10 PM, and on the dock of Calderon, Santander, fireworks were heard to greet the trimaran that had sailed across the Atlantic to reach the old world, with the single mission of bringing a message of Peace through the voice of a child from Cozumel, Juan Pablo Tec Chim, who joined the crew, which did not stop ringing the ship's bell to announce his arrival to the homeland of the ship's captain, Vital Alsar. 

Led by the Mayor of Santander, Iñigo de la Serna, officials, businessmen and the media  gathered in the pier to be part of this story that began in Veracruz, Mexico, and made its way pas the Yucatan Real Estate area, through Cozumel, to Miami Beach Florida, to New York and now finally Santander, Spain; so far the ship has visited three ports in the U.S. and Europe.  Meanwhile the spectators listened to the notes of the song composed by the Sergio Esquivel of Yucatan Real Estate area especially for this journey, "The Child, the Sea, Peace and Cozumel." 

As soon as "Zamna" landed, the signs of joy were evident and the crew was warmly received by all people, who showed their appreciation fro the commendable work undertaken by the crew who had traveled more than 4 thousand 600 nautical miles during the 70 days that the voyage has lasted since it was launched in Alvarado, Veracruz. 

During the welcoming ceremony Iñigo de la Serna brought attention to Cozumel in a special way, acknowledging its effort for peace through actions undertaken by the Mayor, Juan Carlos Gonzalez Hernandez, to appoint the various educational and government institutions in promoting the peace and ensure that Santander and Cozumel will continuously promote harmony. 

The mayor said that the city unconditionally supports the actions undertaken by the only island that has been named "Island of Peace" in the world to further promote the value, and he asked his counterparts in the other Spanish ports where "Zamna" will arrive to join this project. 

Meanwhile, Vital Alsaro Ramirez, visibly moved by being in his native Santander, expressed his affection for Cozumel and the Mayan culture that motivated him to make this dream real. The operator of the vessel , Manuel Diaz Rubio, excited by the acceptance which "the child, the sea, peace and Cozumel" has received, referred to this island as "a people of peace," who through their actions and their Peace Committee is an example for Mexico and the world.

At the given time Juan Pablo, who now has the responsibility of being the messenger of peace in all the ports of Spain where the boat arrives, said: "Thanks to Santander, Spain, on behalf of the Cozumel, Mexico, the Island of Peace Island; we give thanks for this affectionate greeting. We will take the message of peace to children all over the world." 

Once the welcome ceremony was completed, the crowd that attended this event approached  12 years old from Cozumel - ambassador of Peace from Mexico for all the world - to talk to him, to have them take photographs to remember this special day, which was really emotional for those who were witnesses of this episode of the journey for peace. 

The community of Santander showed signs of admiration for the global messenger of peace and offered the child congratulations and good wishes on his journey errand, and asked him to take their congratulations to the people of Cozumel for this undertaking, in which the residents of Santander who came to greet "Zamna" participated.

TOP Mexico Real Estate NETWORK; "Mexico's Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!"

Region:  Playa del Carmen Real Estate  Thomas Lloyd Graduate from Purdue University Business School with a degree in Management/Financial Option Investment.  He has been living, investing, and working in Mexico for over 15 years.  A Mexican certified & licensed realtor, he is the current president of TOPMexicorealestate NETWORK     "Our experience at work protecting your interests"  (512) 879-6546.

A good friend and client of mine has asked for an update on the Playa del Carmen, Riviera Maya, and Cancun beach recovery update If you recall we wrote about the Beach recovery project back in  September within our Mexico Real Estate blog Today, this is the latest update that I have been able to find:

There are basically six companies that have bought into the bidding process to see which of these companies wins the nod These companies have finished their” on site” visits to the Playa del Carmen, Cozumel, and Cancun beaches Another update is that where before the quotes were to be listed in US dollars, the government has requested a quote in pesos given the Mexico exchange rate variances

The sand to be utilized for blowing up onto the beaches will be drenched from a large sand bank located on or near to the Cozumel island So, at this time, the project continues forward We are not on the same time line, but the phase of physical visits from the bidding companies has completed, and now those companies are sharpening their pencils to see which group wins the contract to begin their services.

TOP Mexico Real Estate NETWORK; "Mexico's Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!"

Region:  Playa del Carmen Real Estate  Thomas Lloyd Graduate from Purdue University Business School with a degree in Management/Financial Option Investment.  He has been living, investing, and working in Mexico for over 15 years.  A Mexican certified & licensed realtor, he is the current president of TOPMexicorealestate NETWORK     "Our experience at work protecting your interests"  (512) 879-6546.