Proudly serving communities in over 30 countries, Engel & Völkers global network wields local and global expertise—promising a bespoke real estate experience unmatched in the industry. Whether in the Americas, Europe, Asia, Africa or the many destinations between, there is an Engel & Völkers connection to be made.
This month we’re featuring the alluring municipality of Los Cabos and sharing market highlights from our advisors at Engel & Völkers Los Cabos.
Situated where the desert and the Pacific Ocean intersect, Los Cabos provides a uniquely beautiful landscape. As such, the holiday destination has also become a premier location for luxury second-home investments. Given their easy accessibility, excellent climate, pristine beaches and economic benefits the sister cities of Cabo San Lucas and San José del Cabo have gained an international reputation.
Los Cabos Real Estate Market
As COVID-19 restrictions have lifted throughout the past year, the Los Cabos’s real estate market lifted as well, with Q4 of 2021 closing at record levels. The Los Cabos MLS held 2,100 listings, valued at $1,645,000,000 USD collectively. In the same timeframe, sales closed at $411,000,000 USD.
“For E&V Los Cabos, 2021 was clearly an exceptionally good year. Our activities have resulted in a sales volume that has surpassed all previous records and now positions the brokerage at nearly $3,000,000,000 USD in sales volume since inception. The ever-growing demand for real estate in the Los Cabos region makes it clear that buyers continue to seek long-term real estate investments with the prospect of stable returns, and offering a high quality of life at the same time.”
Vanessa Fukunaga, License Partner, Engel & Völkers Los Cabos
Neighborhoods to Watch
Puerto Los Cabos
Puerto Los Cabos is a 4,942-acre community located just east of San José del Cabo. Known for its privacy, exclusivity and blissful, white-sand coastline, the neighborhood also offers access to an 18-hole golf course and the beautiful 29-acre Wirikuta Botanical Gardens—popular with residents and visitors alike.
Palmilla
Palmilla is located directly by the beach, just a few miles south of San José del Cabo. The community offers luxurious homes, high-end condominiums and plots in multiple price ranges.
Querencia
Querencia is positioned higher inland—simultaneously offering breathtaking views of the sparkling Sea of Cortez, the rugged desert mountains and several golf courses. This location is perfect for those seeking an island home offering privacy and tranquility.
Pedregal
Pedregal is proud to have preserved its old-world Mexican charm. As such, it is popular with homeowners looking for a historic living experience. It offers a wide range of recreational activities, both on, and in the water, and is just minutes from Cabo San Lucas’ famous marina, restaurants and shopping.
Todos Santos
Further northwest lies Todos Santos, the hidden gem of Los Cabos, ideal for experiencing the authentic Baja lifestyle. With its peaceful, small-town atmosphere, this picturesque village has been attracting travelers, nature lovers, artists and beachlovers for decades. Those with an eccentric artistic flair will enjoy exploring the numerous local galleries.
La Ventana
The small fishing village of La Ventana is situated on the eastern side of the Baja California peninsula, south of La Paz. It provides the backdrop for those seeking a paradise to unwind and enjoy a high standard of living. During the summer months, La Ventana is the ideal place for adventure seekers to enjoy good fishing, diving and marine wildlife.
East Cape
Life on the East Cape is all about peaceful days spent relaxing by the sea. A day in this idyllic community could include a great range of activities, from kitesurfing and fishing in the northern neighborhood of Los Barriles to the little community of Zacatitos in the south. Property owners are drawn to this stretch of coastline for its untouched atmosphere.
Property Values
The overall average price for a luxury property in Los Cabos is $3,100,000 USD. While single-person homes cost around $4,300,000 USD, a luxury condominium will cost buyers around $1,500,000 USD.
Property Trends in Los Cabos
Phenomenal increase in turnover
Turnover in 2021 almost tripled compared to the previous year. For some properties, prospective buyers are making offers that exceed the original asking price, frequently increasing the eventual sale price by a considerable amount.
Time to market is decreasing
The increase in buyer demand has resulted in listed properties spending little time on the market. In some cases, offers are being accepted within a matter of days.
Changing Buyer Demand
The needs of property buyers are shifting. Space and privacy have become top priorities during property searches. Homeowners are looking for more bedrooms and space for home offices, as well as wellness areas and inviting outdoor amenities for entertaining guests.
Engel & Völkers Los Cabos
“I am convinced that confident investors and high net worth individuals from the US, Canada, Europe, Asia and Australia will continue to make Los Cabos their first choice for real estate transactions.”
Vanessa Fukunaga, License Partner, Engel & Völkers Los Cabos
Legacy Residence
“Casa Hidalgo” is located between the towns of Cabo San Lucas and San José del Cabo, directly on the beach. With an asking price of $37,900,000 USD, it is the most expensive property currently listed by Engel & Völkers Los Cabos.
The estate is, simply put, monumental, with 23 bedrooms, 34 bathrooms and a multitude of terraces, swimming pools and meticulously maintained gardens. The property sits on a 111,800 square foot plot and nearly 250 feet of beachfront, providing the perfect residence for gatherings of friends and family.
2021 Los Cabos Real Estate Market Report
Contact
For further information about the property market in Los Cabos and/or referrals please contact:
Vanessa Fukunaga
License Partner of Engel & Völkers Los Cabos
Phone Mexico: +52 624-157-3446
Phone USA: +1 425-471-1485
No Comments