Real Estate in Los Cabos
Cabo San Lucas, San Jose del Cabo and the Tourist Corridor, Baja California Sur, Mexico
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Hot Properties Report by Carol Billups: October 2004
Real Estate values in Cabo San Lucas, Los Cabos, Mexico.
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The real estate market is up again and properties are moving fast. Anything on the water is rare and priced according, some of the best gated communities are almost sold out – and the season is just starting! What are some of the hottest deals going in Los Cabos right now?
Anything in Puerto Los Cabos is a hot property. Now that the construction of the marina is well underway and road and infrastructure are going in buyers can appreciate what a special property Puerto Los Cabos is going to be. The developer is still offering goodies for those who buy in early but those won’t last. Lots are available in only two sections: Fundadores and La Noria. Lots in Fundadores are larger and come with more priviledges but there are excellent view lots available in both communities. All come with US title insurance included.
Palmilla recently opened 33 new view lots in the Caleta Loma section with golf and ocean views; prices are in the $500,000 range. At press time 26 of these lots had been reserved or were under offer… at this rate they will be sold out long before Christmas.
There is still a moratorium on the sale of lots at the Bay of Dreams near La Paz. Several founder’s lots are on the resale market, however. The developer expects to announce plans for the remainder of the development shortly, and insiders say it will rock the market.
If half a million or more is a bit rich for your budget don’t despair. There are still excellent view lots available at La Sierra at Cabo, starting at about $80,000 as well as resale lots in a number of other communities. Your real estate agent can help you find one that is perfect for you and your wallet.
Resales of homes and condominiums continue to be brisk, with many buyers finding that older homes in established communities are excellent opportunities. With a plethora of new stores in the area fixing up an older home is no longer an exercise in international shipping. Cabo Bello, Pedregal and the La Jolla area offer the best selections of ‘some tlc needed’ properties.
Condominiums continue to be at a premium with prices ranging from $60,000 US for a no-frills one bedroom to the million-dollar luxury penthouses. Resales provide the best selection and value in this category.
Cutting to the chase: if you’ve been thinking about buying in Cabo San Lucas, Los Cabosm Mexico, do it now. The number of properties on the market is declining and prices are going up – don’t wait! |
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Cabo San Lucas, Baja California Sur, Mexico - Last Revision - 10 February 2006 - jat
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