IRR Bullish About Mexico Real Estate

Integra Realty Resources, in their 2008 analysis of the North American real estate market, has this to say about the real estate tourism sector in Mexico:


“Along the Baja Peninsula and the west coast of Mexico, the hospitality and tourist oriented market, as well as the second- home projects market, remains very strong. This has kept IRR de Mexico very busy with a variety of assignments. Sales in the residential tourist sector reached $5 billion in 2006, consisting for the most part (over 70%) of U.S. and Canadian citizens. Sales for 2007 are expected to surpass $6 billion. The Los Cabos area still maintains the strongest position in these markets, with the most new projects under development and the highest number of record-breaking sales prices. Sales prices per square foot have reached nearly $2,000 in the north Cabo area overlooking the Pacific Ocean. In these areas, developments like Capella, Sunset Beach and Diamante will take Los Cabos to the next generation of super-resorts and tourist/residential communities.”

Integra Realty Resources – Viewpoint 2008 

Los Cabos may be strong with regards to number of new projects coming on line and the top-dollar reached for individual sales, but the Vallarta region still leads the nation in total number of sales and volume.

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