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Young people are moving to Mexico to offset the high cost of living in the US

On April 12th, Max Katz, President of Baja Real Estate Group, was interviewed by a reporter from ABC News 10 on a topic that’s caught the attention of the media and the public. That is the trend among young people from San Diego moving to Mexico to save money. The high prices of living and buying property in San Diego motivate many young workers, students, and professionals to move.

Katz, who specializes in properties in Rosarito and Ensenada, said he’d seen a growth in the younger demographic in the last couple of years. The Rosarito-Ensenada region has traditionally attracted retirees from California and around the US, a market that is still going strong. The cost of living in Mexico is 30-40% lower than in the US. The rising inflation rates in the US -7.5 to 8.5% so far this year- and the prohibitive housing costs of stateside properties mean there is no end in sight for the exodus.

Katz said the difference in home prices is massive. “You can get a waterfront home or condo in our area anywhere from 200 to 6 or 700 -would be a normal price range for our market- and that same property in San Diego would be in the millions for sure.”

 

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Northern Baja Real-Estate market is expected to heat up, Santa Barbara in Bajamar adds amenities to keep up with demand.

  • Media attention luring visitors back to Rosarito and Ensenada, number of visitors still strong as summer dies
  • Santa Barbara in Bajamar hits the 50 percent mark on amenities, construction going on at full speed to keep up with potential buyer´s interest
Call it the Baja Effect
Call it the Baja Effect

Call it the Baja- is-Back Effect. A string of recent features in such diverse media outlets as the San Diego Reader, Forbes Travel Guide and Anthony Bourdain´s No Reservations, have been showcasing the charms of Northern Baja.

The positive media attention has lured Americans back to the region. After these visitors get back home, their upbeat reports make it back to the media, thus feeding a virtuous circle that is expected to bring still more tourism and real estate buyers to the Rosarito-Ensenada area.

At Santa Barbara in Bajamar, developers are working hard to get ahead of the curve, and are not sparing any expense on the construction of new outdoor attractions to attract the new wave of buyers expected to hit the Northern Baja Coast. The construction of a new oceanfront pool complex, with shaded cabanas and changing rooms, outdoor kitchens with barbecues, sitting and tanning areas has hit the 50 percent mark, and is not slowing down, much as the number of visitors and tourists has not dwindled even as the summer dies down.

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It might not come to mind at first. But that´s the key, high-end Real Estate in Baja is like a well-kept secret within a well to do family, something only a few are privy to, like the name of a great caterer or a very exclusive soirée.

High-End Real Estate
High-End Real Estate

The Baja Riviera boasts an amazing offering of high-end properties that satisfy the needs, wants, and whims of the most discerning real estate clientele.

Luxury finishings, private locations, 24 hour security, custom design and décor, are amongst the features of properties in this range. Oftentimes, concierge services complement the resort experience.

The combination of the charming old heritage architectural style and the top-of-line amenities, with the clear financial advantages of investing on Mexican Real Estate, have made this the area of choice for a small, discreet, and privileged set of buyers.

“In years past, clients that were originally looking at Puerto Vallarta or Cabo for their luxury home purchase have turned to Northern Baja, and ended up acquiring property in the Rosarito -Ensenada strip”, says Max Katz, Owner of the Baja Real Estate Group. “We first noticed this trend about three years ago. However in the last year, we have sold more premium homes and penthouses, than in all of the last 6 years combined”.

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  1. Pocket Listings Not The Way To Go In Mexico
    Pocket Listings Not The Way To Go In Mexico

    Upward trend in the real-estate market in Rosarito-Ensenada and more stringent capital gains laws put a damper on “For Sale by Owner” and Unlisted Properties
  2. Changes in capital gains laws warrant the use of a knowledgeable real-estate agent when conducting transactions in México
  3. Changes in capital gains laws in México make for a more robust real estate market in Rosarito-Ensenada
  4. “Unlisted Properties” and “For-Sale by Owner” not the way to go when you go to Rosarito

As Mexico´s´ real estate market continues to recover, real estate laws have changed, making operations such as “For Sale by Owner” and “Unlisted Properties” not the best strategy for buying and selling properties in this country.

The real estate market in the Rosarito-Ensenada Coast is still moving steadily up and gaining momentum. HGTV recently aired two episodes portraying American buyers as they acquire their dream properties in Rosarito; there is talk about new developments coming and inventory under $200,000 is becoming scarcer every day.

There is a growing trend of Americans packing up and moving to Mexico, looking for a better lifestyle at a lower price. All in all, Rosarito is proving to be a good investment for retirement and second homes.

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Wednesday, July 06, 2022

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