Report: Mexico’s Housing Market Thrives Thanks to Luxury Resort Communities
Wednesday, February 12, 2020
Mexico’s housing market is thriving, and experts say sales of high-end homes are the reason. Homeowners are flocking to Mexico’s shores, particularly to luxury resort communities in East Cape, a stretch of freshly-developed land east of Cabo San Lucas.
A glimpse of Mexico’s housing market and economy
Across the country, home sales and values are increasing. The house price index in Mexico rose by almost 5% during 2019, which represents the biggest increase in three years, according to GlobalPropertyGuide.
The rosy housing market in Mexico surprises some real estate experts, since Mexico’s economy is a bit sluggish. Typically Mexico’s economy rises and falls with the U.S. economy, but for the last three quarters, Mexico’s economy has slowed as the American economy forges on, reports CNBC.
Still, experts say the number of American and Canadian homebuyers that are returning to Mexico to buy property is undeniable. These elite buyers are particularly drawn to new, luxury resort communities in East Cape.
Tucked along the eastern side of Baja’s southernmost point, East Cape is a throwback to Old Baja. Here, beaches remain untouched, dirt roads outnumber paved ones, and the night life is void of bars and partygoers like its neighboring city, Cabo San Lucas.
It’s natural beauty and lack of tourists are just some of the reasons for the uptick in property buyers.
The attractive features in luxury resort communities in East Cape
What is it about the resort communities in East Cape that have buyers so keen on the area? The resorts in this area cater to elite travelers in every way. From a stunning location along a two-mile stretch of the Sea of Cortez to the fine finishings found throughout the residences, the luxury resort communities in East Cape check all the boxes.
– Private, upscale residences embrace nature –
Resorts along the East Cape coast were designed to blend in with the surrounding beauty. With a subtle and clean design, yet decadently furnished, the residences in the area complement the picture-perfect surroundings.
Homebuyers love the tasteful design, modern amenities, home automation, and lavish outdoor living space that all see mimic the low-key, stress-free nature of Baja’s East Cape.
– Breathtaking beach views and access –
Resort communities are often built with impressive natural backdrops, but resorts in East Cape are next level. With sweeping views of the Sierra de la Laguna Mountains and turquoise water lapping at the shores, homeowners are truly wrapped in natural beauty.
Resorts like Costa Palmas, for example, not only offer the exquisite view, but front-door access to the beach. Homeowners can step off their outdoor terrace and right onto the swimmable beach; a rare feature near Cabo where the water tends to be rough and choppy.
– An unparalleled golfing experience –
East Cape is home to one of Baja’s newest golf courses. The Costa Palmas Golf Course, which opened in December 2019, offers a world-class 18-hole championship golf course featuring desert and ocean views, perfectly manicured dunescapes, and fairways that unravel along the coast’s hillsides.
Designed by Robert Trent Jones II, a master designer in the industry, the course is a walkable links-style course with firm and fast terrain fit for any level of golfer.
The course also features a 30,000 square-foot putting course, professional lessons on-site, and a shorter 6-hole loop for those looking for a quick game.
– A private yacht and beach club –
Luxury resort communities in East Cape are perfect for water lovers. Yacht owners can enjoy an exclusive club and marina that accommodate 250-foot superyachts. Some marinas even offer exclusive chartered fishing trips, and a marina village complete with curated boutiques and restaurants.
You don’t need a yacht to explore the beautiful seas. Exclusive beach clubs are also offered at luxury resorts in East Cape, complete with fresh cuisine, full-service pools, beach excursions, waterside bars, and staff that takes care of your every whim.
Tips to buy a home inside a luxury resort community
There’s no shortage of reasons to buy a resort home in East Cape, but given the influx of interest, there are a few things buyers should know:
– Buying property as a foreigner requires a team of experts –
Buying a home in Mexico is different than buying one in the states. There are different rules and regulations to follow. For example, for foreigners to buy beachside property in Mexico, they must set up a bank trust called a fideicomiso. The purchaser retains all rights to the property, but the bank holds the deed.
It’s one of the many reasons why buyers need a team of experienced real estate experts to handle the sale.
– Visiting the property is a must –
High-end buyers can dispatch a team of people to identify, tour, and purchase property without the homeowner ever seeing the property. While this may ease the transaction, it’s always best to see the home, walk the beaches, talk with neighbors, and get a feel for the community.
Resort communities are often close-knit groups, so it’s important to meet-and-greet people that live there to make sure it’s a good fit for your personal lifestyle.
– Consider the amenities offered –
Buying a residence or a villa in a resort community isn’t just about the home or the community, it’s also about unfettered access to premier amenities. When buying in one of the luxury resort communities in East Cape, it’s important to compare the amenities, their proximity, and the staff that’s responsible for creating memorable experiences.
You might prefer a walkable golf course over a caddy-required course, a beach club over beach access, or on-site fine dining as opposed to leaving the resort.
Amenities should play a crucial role in a home buyer’s decision.
The luxury housing market in Mexico is experiencing real growth, but it’s still in its infant stages in East Cape. Buyers are just discovering this hidden paradise, which likely means demand will increase. For those looking for an unparalleled home in a high-end resort community, visit the Costa Palmas website to explore the stunning residences that await you along the Sea of Cortez.