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 Today there is world-class dining and a semblance of a society scene amongst the great and good that have purchased multi-million dollar homes in Los Cabos. The area is very different from other Mexican beach destinations because of its geography and its relative isolation from the Mexican “mainland”.
Further, the fact that Americans can drive their cars there, unlike the rest of Mexico (except for Sonora) where a special permit is needed, means that there is also an American/Californian feel to the place.
What is called “residential tourism” is the main driver behind the area’s tremendous growth. With property values on a (mostly ascendant) roller-coaster, it’s difficult to compare Los Cabos real estate to prices in different destinations. Nevertheless, land is still cheap in comparison to Southern California and that’s the main driver behind the price hikes in Los Cabos. Many new developments are being built and planned.
The most popular properties are pre-construction developments that offer full services and financing. Luxurious gated communities are among the highest growth niches, and these can include use of chauffeurs to-and-from the airport, use of marina facilities and yachts, 24-hour security and concierge service, pre-stocking of your kitchen, spa services, child care and activities. Although prices vary widely, entry-level villas on the hillsides overlooking the ocean can be had for about US$300,000 dollars.
On the Pacific side of the peninsula, where the water is a bit rougher, there are still opportunities from Cabo Pacifica to Todos Santos. It’s cooler on that side and there are still places where it is necessary to erect solar panels and truck in the water, but there are some interesting finds in the area.
These days, buyers are convinced that land in and around Los Cabos is as much an investment as a great place to put a vacation home. Also of note is the fact that you can buy property that is not along the beach, but is worthwhile and much cheaper. Add to that the fact that this might allow you easier access to towns, shopping and services and you might be persuaded to look beyond the beach for property for sale.
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