From 2019 to this date, the price of Real Estate in Los Cabos has increased between 50% and over 100% as a result of a mix between the increase in demand, the relatively little available supply of properties, and inflation.
Rafael Covarrubias, general director of Discovering Mexico said that in Quivira, one of his favorite sites as a salesman, has had a price increase from 50% to more than 120% depending on the different communities that integrate this development.
The case with the greatest added value is Alvar, he said, where the price of properties in Breña have increased more than 120% between the end of 2019 and today. In addition, he said, surely the most expensive property in México is in the residences of the St Regis, where the main property sold for more than 20,000 dollars per square meter.
Eduardo Sánchez Navarro, president of Grupo Questro, said that with the pandemic, Real Estate companies in Los Cabos were hit with the lottery, since a significant number of Americans and Canadians decided to acquire properties in this destination.
According to the figures of the MLS Los Cabos, only between half of 2020 and 2021 properties were sold in this destination for a value of more than 2 billion dollars. Although the pandemic also caused the price increase of some inputs as important for construction as rods, in the last year the increases seem to be under control, but the demand for Real Estate properties continues to rise.