Interesting property in the town of Xcalak. 2-bedroom apartment above and potential for business below. Nice views from the rooftop terrace! If you’re considering any type of business, this property is a must-see! contact us.
Xcalak is an undeveloped fishing village of approximately 400 residents that is 36 miles south of Mahahual on the Caribbean coast. The fishery and eco-tourism are the main source of employment. World class sport fishing and diving are found in the waters surrounding Xcalak and the nearby Chetumal Bay. There are a few small hotels that cater to divers, fishermen and nature lovers. There is a small but growing ex-pat community there. Xcalak represents an opportunity for investment since it is the last area of the Costa Maya to develop. See video below.
The Costa Maya is on the Caribbean coast of Mexico and starts in the south at the Belize border and continues for approximately 100 miles north terminating at the Sian Kaan Biosphere Reserve. The world’s second largest barrier reef passes just off-shore from the Costa Maya and it is known for its world class snorkeling, scuba diving and fly fishing.
There are only two towns with any appreciable population, Mahahual is located near the center of the Costa Maya and is close to a cruise ship port. Several thousand people live there, many of whom are employed by businesses that cater to the tourists that disembark from the cruise ships. Mahahual has seen rapid growth over the last decade including construction of small hotels and condominiums. Xcalak is a small village located in the southern part of the Costa Maya that has approximately 400 inhabitants who make their living from fishing and servicing eco-tourists that come there for sport fishing and diving. There is a growing ex-pat community there as well.
The Parque Nacional Arrecifes de Xcalak is a ecologically protected area that starts at the border of Belize and includes Xcalak and the coast north to a point approximately halfway between Xcalak and Mahahual. Both Mahahual and Xcalak are departure points for dive trips to the Chinchorro Banks atoll reef system that is located approximately 20 miles offshore.
From Mahahual north to the Sian Kaan and from Mahahual south to Xcalak there is beachfront property that is divided into parcels of various sizes. Although a number of houses have been built on the coast there are still miles of undeveloped beachfront property there. There are regulations in place that prescribe what can be built on these lots and how much vegetation can be removed to accommodate construction. There are protected species of plants that cannot be removed as well. There are many things to consider when purchasing a building lot or existing house in the Costa Maya. We have been guiding our clients through this process for the last 15 years.
Legal Considerations in Costa Maya Real Estate – Foreigners cannot acquire direct ownership of residential property within the area 100 kilometers from the border and 50 kilometers from the coastline. This area is known as the restricted zone.
It is possible, however, to acquire beneficial rights to use, improve and enjoy property in the restricted zone through a Bank Trust or Fidecomiso authorized by the Mexican Government under the Ministry of Foreign Affairs.
The Fidecomiso is established for a 50 year renewable term and grants the beneficiary the right to use, rent, modify or sell the property.
An advantage of the bank trust is the avoidance of probate upon the death of the beneficiary when a substitute is named.
Property acquired for commercial use by foreigners may be owned without the need for a bank trust, provided that the property is held in a Mexican corporation. Depending on the type of business, it is often possible for a foreigner to own 100% of the Mexican corporation.
Infrastructure Projects That Could Increase Property Values In The Costa Maya:
The Mayan Train is under construction and is scheduled to be operational in 2024. The train route will circle around the Yucatan Peninsula with a spur going southwest to Palenque (see map below). Of special interest to the Costa Maya is the section from Cancun to Chetumal. Along this route the train will stop at the Cancun International Airport, Puerto Morelos, Playa Del Carmen, Xcaret, Puerto Aventuras, Akumal, Tulum, Tulum International Airport (under construction, scheduled to be completed in 2024), Felipe Carrillo Puerto, Limones, Bacalar and Chetumal. The closest stop to the Costa Maya will be in Limones which is 45 minutes from Mahahual. The train will connect travellers to the Costa Maya to international airports in Cancun, Tulum and Chetumal.
Tulum International Airport is under construction and scheduled to be completed in 2024. This airport will provide a closer alternative to the Cancun Airport for people travelling to the Costa Maya.
Bridge connecting Calderitas to the Xcalak – Mahahual Rd. has been proposed that will connect the state capitol of Chetumal to the Costa Maya. There have been no funds allocated as of yet to start the project. The intention of this proposal is to shorten the drive time by one hour between Chetumal and the Costa Maya.