Veils To Go Up For Expanded Azul Hotel In Playa Del Carmen

Coming Jan. 15, the veils will go up the all-inclusive Azul Fives Hotel by Karisma in Playa del Carmen after the completion of its $40 million expansion.

The expansion plan will introduce 64-suite Essence section and The Fives Plaza with three restaurants, two bars, a coffee shop and a gym. The new section will also include two pools, several swim-up suites and sky suites with private rooftops with daybeds, Jacuzzis and barbecues. The new restaurants feature wok cuisine, Japanese dishes and French bistro offerings in addition to the resort’s five existing a la carte restaurants at the Beach Club overlooking the Caribbean. Other facilities include the Vassa Spa, wedding venues, the Azulitos Playhouse for kids and the Breeze Teen Club.

Mandy Chomat, vice president of sales and marketing for Premier Worldwide Marketing, the representatives for Azul Hotels explained their strategy. “This was a direct response to an increasing demand for one-, two- and three-bedroom suites,” she stated.

Rates at the new Essence section will start at $217 per person, per night, double. (2074)

Good News For Foreign Real Estate Buyers – Mexico’s House Loosens Fideicomiso

The House Chamber of Deputies, following an overwhelming majority vote of 356 in favour and 119 against the real estate scenario is about to change. Though the measure was approved in the House, the bill still needs approval from the Senate and state legislatures before it officially becomes law.

Up till now, foreign buyers were allowed to purchase property in and around Mexico’s coastal and border towns under supervision of a real estate trust known as a fideicomiso. However, following a historic vote in Mexico’s House last week, a new bill that will loosen these restrictions is one step closer to becoming law.

In the case of owning property in Mexico it refers to a bank trust. It is a legal agreement between the “property owner” and his bank that establishes that the bank hold the property in trust for the “owner”. This arises from the fact that foreigners cannot own property within 50 kilometres of the coast or within 100 km. of the northern border. This is sometimes called the foreigner exclusion zone.

If the bill gets passed, it will permit foreign buyers to bypass the “red tape” that is created by the current fideicomiso system, which is outlined in Article 27 of the constitution and prohibits direct ownership of land by foreigners within 50 kilometers (31 miles) of the coast and 100 kilometers (62 miles) of the border. The bill will change all of this, permitting foreign buyers to purchase real estate directly in oceanfront areas for residential use. Changing the current laws could have a positive impact to the Akumal real estate market, and economy along with other coastal towns around Mexico.

The old law is serving as more of a hindrance than a protective measure, since giving added legal certainty to foreign property ownership rights will financially benefit the local governments and people of coastal and border towns. When the new bill becomes law, it will also mean additional tax revenues for the areas in question.

Several expert opinions are pouring in about the bill and Wall Street Journal too has aired their view, Mexican real estate developers and local government officials are backing the new bill to remove the restrictions, citing the success of landlocked towns such as San Miguel de Allende, which is very popular among expats and has developed a strong local economy to prove it.

Fideicomiso is a complicated process than buying direct from developers and real estate professionals will be. By removing these outdated restrictions, the new bill is expected to bring an added burst of new activity to Mexico’s already strong real estate sector.

The development that happened last week, was the first governmental step to changing the real estate law, however the process is still a long journey to completion. Hope this proposal to lift the fideicomiso law which has been circulating for over a year in the capital gets passed. (2884)

Day Trip To Snorkel in Akumal Real Estate

Recently a couple posted a question on TripAdvisor asking about taking a day trip from Playa del Carmen to Akumal to snorkel with the sea turtles. They need to know how far the beach is once they reach Akumal and would also like to know where can they rent in snorkel equipment, lockers and beach chairs from? Plus, they need suggestions on some good places for snacks and drinks.

In response to this query, here is what some experienced travelers had to say about Day Trip To Snorkel in Akumal Real Estate

After getting off the collectivo in Akumal, the walk to the beach is approximately 15 minutes. For snorkeling with turtles, it is advisable to reach Akumal Bay in the morning, by 8 am, as most snorkel tours start from 10 am after which it gets quite crowded. Here, there are 2 dive shops – Lo Ha and Akumal Dive Shop, from where snorkeling equipment can be rented in. While in Akumal, also consider snorkeling in the Yal Kul Lagoon. You can rent in golf carts from Akumal Beach and drive down to Yal Kul Lagoon. The lagoon is great and you can spot lots of fish, both big and small, and get some fantastic pictures. The Lol Ha Snack Bar in Akumal Bay is a nice place to grab a bite. Try the botanero platter at the La Buena Vida on Half Moon Bay. Good enough for two or more people and priced at 135 pesos (roughly), this platter consists of fajita style beef and chicken, beans, guacomole, melted gouda cheese and a big stack of tortillas.
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6 Simple Yet Fabulous Ideas For Decorating Your Puerto Morelos Home

Living in a beach destination is a dream for most of us. And when we finally have one and have to decorate it we are thwarted by the thought of a huge budget. But decorating your Puerto Morelos home is simper than you think – and can also be easy on your pocket! Here are 6 straightforward ways to help you breathe a breezy style into your tropical home:

Keep It Natural

wicker-furniture
Wherever possible, keep the decor as natural as you can. When it comes to furniture and fabrics, organic colors and finishes will work the best. Using wooden, bamboo, rattan and cane furniture will reflect the beauty of nature in your beach home. Opt for jute or sea grass matting and any other textured, natural material that you can think of. Usually these are quite cost-effective and will also help to create an easygoing, coastal ambiance in your home in Puerto Morelos.

The Power Of White

White interiors
So you think white is boring? Well, think again. Pure, pristine and stylish, white can work wonders in glamorizing your vacation home. White paint on the walls, ceiling, furniture and even on the floors not only brightens up the area but also creates the illusion of a larger space and puts the spotlight on everything around it. Plus, the color white allows light to bounce off freely from the surfaces, thereby creating a light and airy feel in the house. Whatever your décor theme is, classic, contemporary or something in between, white just fits in perfectly. Tip: White chairs and sofas look fabulous no doubt but are slightly high-maintenance so please ensure that you invest in ones those that can be easily unzipped and washed.

A Dash Of Color

Crisp whites combined with spurts of bright colors create that perfect setting for a beach home. Puerto Morelos is in Mexico which known for its vibrant and colorful culture. These colors can be used in home decor. Choose your color scheme with references to the ocean – blues, greens, and turquoise or use an unexpected splash of a vibrant shade of bright aqua and see your space come alive! Dark woods also work well as a contrast to white. Glass vases in pretty shades of blues and greens look fantastic when paired against crisp white walls. You can also add a dash of color through paintings or pictures of the sea. Throw in some pillows, cushions and rugs in tinges like a bright orange to represent the striking shades of a sunset.

Welcome the Coastal Lifestyle

hammock-puerto-morelos-home
Build a fabulous deck overlooking the beach; purchase some great outdoors furniture, like a hammock or an extra-deep porch swing or anything else that you fancy. Now kick back and enjoy the splendid view with a glass of wine, read a book or simply stretch out for a quick nap! It just does not get more  cozy and beachy than that!

Accessorize With Gifts From The Sea

bamboo-blinds
There are endless ways in which you can accessorize your beach home using the treasures from the sea and nature! Use sea grass mats, hurricane lamps, flowy see-through curtains or bamboo blinds for that laid-back beach vibe. Add wooden textures like a teak coffee table. Use wicker lounge chairs surrounded by lush plants. Woven accessories, due to their organic textures, are also ideal pieces of décor for your beach home. You could also use your creativity to come up with fabulous ideas to beautify your beach home. For instance, pep up a dull mirror simply by sticking some dazzling oyster shells all along its borders. This same idea could also be used for large photo frames. Create a pretty garland by using seashells, starfish, twine and any other seaside treasure that you fancy and use it to adorn a window. Seashells and corals are beautiful natural treasures and are the ideal add-ons for the coffee table and also for adorning your bathrooms and mantels. Remember, be innovative, but do not go overboard with accessorizing.

Keep The ‘Fun’ Element Alive

Beach houses are all about relaxation and fun, so you should ensure that the ambiance is light and upbeat. Go ahead and bring in some surprising element in your beach home that is inspired by the sun, sand and sea. It could be a surfboard, some classic oars or an enchanting compilation of treasures from the ocean.

Photos: https://flic.kr/p/7HXBQn

Do you like the clean lines and #white interior? We do! Tell us your thoughts! #interiordesign #interior #interiordecor #design #decor #wicker #palmtrees #fireplace #wood - @homeadvisor

(via White Wicker Dining Set - White Wicker: Lanai Set of 5)

Bamboo Roller Shades

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Pics: Cenote Diving In Tulum

Pics: Cenote Diving In Tulum

Diving In Tulum

Every year thousands of people visit cenotes in Tulum for a unique experience of exploring the underground caves filled with water. Cenote diving In Tulum an surreal experience which ups your heart rate and also get you in touch with the various mysteries inhabiting in this part of the world. These cenotes are not just caves but also holds a very important place in the culture of Mayan who believe that the rain god, Chaak lives in these caves. Those visiting or living in Tulum should definitely take advantage of this natural wonder.

National Geographic published a breathtaking photo of one such cenote.

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Mexico’s Largest Real Estate Transaction Closes at More Than US$2 Billion

Mexico real estate is in news again.

Press release

Brownstein Hyatt Farber Schreck’s Corporate Group played the lead role in closing Mexico’s largest real estate transaction representing MRP Group, LP, based in Denver, which sold the majority of its portfolio to Fibra Uno for more than US$2 billion. Brownstein’s team, led by shareholder Steve Demby, worked with several companies including Black Creek Group, LLP, also based in Denver, which established MRP Group in 2002. MRP Group, a multibillion-dollar private equity fund run by John Blumberg, through its operating affiliates and under the name Mexico Retail Properties, acquires, develops and owns high-quality, well-anchored shopping centers throughout Mexico. The assets sold were all of those properties owned by Funds I, II and III. MRP Group will continue to develop, own and operate additional properties through its Fund IV.

“We are proud to support MRP Group in this groundbreaking deal,” said Adam Agron, co-managing partner of Brownstein. “This transaction showcases Brownstein’s extensive capabilities and experience handling complex, international transactions.”

The portfolio sold by MRP Group was comprised of 49 commercial properties, which represent a total leasable area of nearly 1 million square meters and will generate to Fibra Uno an estimated net revenue of $1.8 billion pesos per year. Prior to the sale, MRP Group and its affiliates were the largest developer, owner and manager of retail real estate assets in Mexico.

“This was the most complex transaction of my career and one that I’d only entrust to my team at Brownstein Hyatt Farber Schreck,” said Blumberg, MRP Group’s chairman. “Brownstein’s team had the knowledge and experience to navigate this complex, international transaction and I knew we’d get to the finish line because that’s what this team does; they get deals done. I couldn’t be prouder as this transaction marks a milestone in my career and within the private equity industry sector throughout Mexico.”

As part of this transaction, MRP Group and its affiliates will develop and implement for Fibra Uno a proprietary management platform utilizing the latest technology designed and currently used by Mexico Retail Properties. This platform will support and enhance Fibra Uno’s dynamic expansion plan and bolster its ability to identify and capture the future investment opportunities that will arise in the real estate market in Mexico.

Brownstein’s team, led by Demby, included Tom Romer, shareholder; Margaux Trammell, shareholder; Neil Goff, shareholder; Ashley Krause, shareholder; Mark Stockwell, associate; Adam Duerr, associate; Blair Lichtenfels, associate; and Jean Harrison, paralegal. (3749)

Carlos Slim Invests In Mexico Real Estate

Carlos Slim Invests In Mexico Real Estate - Buys Loreto Bay Resort

Carlos Slim Invests In Mexico Real Estate – Buys Loreto Bay Resort

When one of the richest persons in the world makes a move the world takes notice. So when Carlos Slim, the richest man in Mexico decides to buy a project it will create a flurry. Mexico real estate industry is agog with the news that Mr. Slim has purchased Loreto Bay Resort on the Sea of Cortez.

This has been confirmed by none other than State Secretary of Tourism Ruben Lugo Reachi who also told reporters that Mr. Slim’s company, Grupo Carso, would have the “necessary resources” to jump start the project.

It was a distressed sale as the Mexican housing company, Homex was struggling with low sales and mounting losses. The Trust for Sustainable Development (TSD) teamed up with Mexico’s tourism agency Fonatur to construct a residential resort with 6,000 homes, golf courses and hotels spread over a whopping 8,000 acres. The project was to be built at a cost of $3 billion.

Loreto Bay Resort has been hailed as a model for sustainable projects. Contemporary urban principles have been incorporated for this residential project.  Dense neighborhoods with organic farms and nature preserve were designed in to the project. Special care was taken to ensure that people can walk around their neighborhood freely. The project started in 2004 as a master planned development which would target foreign buyers in a remote area of Baja California.

Citibank was roped in as an investor. The problems started in 2009 when the developer TSD Loreto informed owners that all operating and construction activities for Loreto Bay would be halted “due to the challenging situation in the international real estate and financial markets.”

“Several potential buyers and investors have visited the project over the last few months, yet in the context of the current economic crisis and credit shortage, the project has been unable to secure a buyer or new investor,” the developer said.

Homex then decided to take over the project in 2010 but the market conditions and its own financial problem hounded Homex out of the project.

Mexico real estate is currently witnessing an uptrend due to a strong tourism number from areas such as Cancun, Playa del Carmen in the state of Quinatana Roo and improved performance of USA’s economy. (5399)

Puerto Morelos vs. Puerto Aventuras : Which One Is Better?

Many travelers and real estate investors ask which one is better – Puerto Morelos or Puerto Aventuras. Both these destinations are diametrically opposite in every way.

Puerto Aventuras is a modern town with new buildings both housing and commercial. It has marinas, condos, luxury villas, a museum and a Dolphinarium (Dolphin Discovery). Its marina is a highlight as one can see main yachts and sport fishermen. For more details go here http://www.iownakumal.com/communities/puerto-aventuras/

Puerto Morelos in contrast is a typical old Mexican town with a town square and a beach. Many resorts make it a perfect place to chill out. It can be a perfect base for exploring to Riviera Maya. It’s also a Caribbean  second home destination for those who want a little less hustle and bustle. Read this for an in-depth information on Puerto Morelos http://www.iownakumal.com/communities/puerto-morelos/

Read how to decorate your beach home in Puerto Morelos

It boils to your personal taste. if you want an old world charm then go for Puerto Morelos. If you prefer modern luxury, yachts, dolphin discovery and Marina then Puerto Aventuras is more suited to you. (5367)

Mexico Beachfront Property Reforms To Spur Foreign Real Estate Investment?

Foreigners have long been barred from purchasing beachfront property in Mexico, but now, a bill working its way through Mexico’s congress may just change the entire scene.

Mexico Beachfront Property Reforms To Spur Foreign Real Estate Investment?

Mexico Beachfront Property Reforms To Spur Foreign Real Estate Investment?

After the U.S. – Mexican War ended in 1848, Mexico lost almost half of its territory to the U.S.  Article 27 of the Mexican Constitution was then written to prohibit further loss of the country’s borders. Article 27 clearly states that “Within a distance of 100 kilometers from national borders and 50 kilometers from national coastline, under no circumstances may foreigners acquire direct title over land or water.”

However, foreigners have been able to purchase coastal property in Mexico ever since the 1970s via a mechanism called a ‘fideicomiso’, created exactly for this purpose.

The fideicomiso is a bank trust through which the bank holds nominal title to the property but the beneficiary of the trust is the foreign buyer of the property.  The property is not regarded an asset of the bank and may not be used by the bank for any purpose other than being held legally for the benefit of the trust beneficiary. Over the years, the fideicomiso has proven to be a popular but fairly complex process that requires a whole lot of paperwork and also payment of annual bank fees. Plus there is also a big risk – the government can revoke ownership of the property.

While some real estate buyers are ready to go through these hassles and bear the risk in order to own a home in breathtaking destinations like Playa del Carmen, Cancun in the Riviera Maya, other potential buyers have been discouraged by the thought of too many official procedures, causing them to invest their money in other countries.

In April this year, the lower house of Mexico’s Congress had passed a constitutional amendment that would allow foreigners to purchase residential property directly, though buying commercial property would still be restricted. The proposed constitutional change would allow foreigners to acquire direct title to land within the designated “prohibited zones” as long it is used solely for residential purpose and not for any commercial venture, along with some additional conditions.

Supporters say that easing property ownership laws is much needed to promote coastal development in Mexico and will bring about a boom in foreign investment in the country which in turn will improve the economy. Foreigners will now find the process of investing in Mexico beach homes a lot less scary and costly, which is in fact the purpose of the initiative.

However, opponents of the bill say it is a letdown and would likely be damaging to the coastal environment of the country.

Lets just wait, watch and hope for the best. (5226)

Are you ready to buy an Akumal house?

The one question that dogs everyone is if he or she is ready to buy a home. This confusion is further compounded when you have to make a decision about purchasing a second home in Akumal, Mexico. After all, you are investing a sizeable amount of money in a foreign destination.

To help you out in a decision, IOwnAkumal.com has found a n easy method courtesy realestate.com. The infographic titled “Am I ready to buy a house” is a flowchart of the whole decision making  process.

Am-I-Ready-To-Buy-A-House-Flowchart

“Am I Ready to Buy a House?” – RealEstate.com Flowchart (2997)