Sales of Tourist Real Estate Rebounds in Baja El Jefazo - The Fulano Forum
go to original April 8, 2014

TIJUANA, Baja California - At the start of 2014, the real estate sector in the Tijuana-Rosarito-Ensenada tourist corridor registered a rebound in sales of between 20% and 30%, reported the president of the State Council of Real Estate Professionals.

"Real estate is reactivating, there is finally a rebound like we have not had since the last crisis," said Mario Olguín González, president of the Council. This rebound, he said, started at the end of last year, as so we have great expectations for 2014.

He pointed out that in this zone, there are a total of 76 building, among these condominiums and residental units, that are completed and on the market. For the time being, the number of properties for sale is large, as there are condos, sea view homes, private homes, for the demands of different population sectors.

Different from years past when the real estate "boom" in the Coastal Zone was being driven mainly by foreign buyers, he said, now it is Mexican citizens behind the reactivation of the sector.

"The are many Mexican buyers, more than 50% are Mexicans," he said. During the first few months of 2014, Olguín González, saind they have noticed more investors interested in the zone.

However, he stated there are unfinished projects where private investments are being promoted and from financial companies with the goal to finish them.

Market potential

Secretary of Tourism, Oscar Escobedo Carignan, said the increase in the Baja California Coastal Zone has been evident.

"Yes there is an increase, there is confidence that people are starting to buy, we are not like in prior years, we are doing better," he said. He also the buyer who is driving the sector is the Mexican national, when before only 12% of the sales in this region were to Mexicans.

See the original at The Fulano Forum

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