In 2014, 4,000 High Value Homes Were Sold to Foreigners in Baja California Sur El Jefazo - The Fulano Forum
go to original April 16, 2015

The sales of second homes or vacation homes has increased by five percent annually in Los Cabos and declined by five percent in La Paz, as reported by José Luis Gaytan, regional coordinator of the Association of Real Estate Professionals (AMPI).

In 2014, AMPI recorded around 5,000 properties sold to foreigners and Mexicans, 4000 in Los Cabos, 500 in La Paz and 500 in Loreto. 70 percent were to Americans and Canadians, and the rest to nationals from Mexico City, Guadalajara and Monterrey.

Los Cabos has seen a gradual increase since 2008, "which is in the Cabo San Lucas and San Jose del Cabo tourist corridor, which is almost entirely full of tourist developments," said José Luis Gaytan, "and it extends up to Cabo Pulmo and all the area of Los Barriles." One reason, he explains, is the peso devaluation "for foreigners they have a benefit of between fifteen to thirty percent."

In the case of La Paz, "insecurity is affecting it," said the regional AMPI coordinator, which combined with Hurricane Odile has caused a downward trend, which could be reversed if "the US media" and "the US government stopped the negative promotion of the destination."

As for the prices of second homes and vacation homes in BCS, La Paz is cheaper, with prices averaging $250,000 dollars, while in Los Cabos the prices are higher, with an average of $800,000 dollars and a maximum of five million dollars.

See the original at The Fulano Forum

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