The tourist developers of Los Cabos estimate growth of at least 20% in sales within the real estate industry during this 2016, with a figure that could reach 500 million dollars, becoming closer to the record of 2006 when it peaked with 900 million dollars, but the following years the numbers dropped to historic lowest level, that was 70 million dollars in 2011, the president of the Association of Tourist Developers of Los Cabos, Fernando García Campuzano said.
For the next few years an overall investment in Los Cabos is estimated for close to 2 Billion dollars, ‘he said, creating a strong economic impact on both the construction sector and job creation, and particularly for the municipality, where are paid 2% of the amount of transactions as a property acquisition tax (ISAI).
Unlike previous years when practically all industry sales were made in the tourist corridor San Jose – Cabo San Lucas, an expansion that reaches Los Barriles and Todos Santos is currently registered, even if the last two cities belong to municipality of La Paz, are part of a region with a boom in real estate, Garcia said Campuzano.
The President of the association attributed this to the large air connectivity Los Cabos has, works as the bypass and the 4 lane Highway , to the beauty of the region, the amenities offered and the great attraction that constitute the wide range of hotels and restaurants, sport fishing and golf courses; also for property investment Los Cabos is extremely attractive because it has the highest hotel rates in the country and the highest average occupancy, which makes it more profitable compared to other tourism-oriented sites.
Among the factors to estimate a growth of 20% or more during 2016 include offering more flights both domestic and international, and the fact that this sector is the least affected by the change in the peso against the dollar , I note. The composition of real estate clients are also changing, and that 20% of customers are currently Mexicans, when just a few years ago was not even 5%; Finally, García Campuzano unveiled that in Los Cabos is where the sales of most expensive homes in the country are being closed, with prices up to $ 25 million are recorded.