Luxury Real Estate in Cabo

The economy in Los Cabos was given some good news in the last few weeks. Much of the story for Real Estate development in2009 has been of postponements, slow downs, even temporary halts but three projects provided more positive news.

The Vista Serena Group announced its plans for the area on the corridor between Santa Maria Bay and San Viudas beach, including the site where the old popular Twin Dolphin used to stand. This $700 million development project will encompass 1300 acres and feature a 154 suite hotel and convention center with an 18-hole golf course plus 94 residential lots.

AMResorts have also been in the news this week by confimring their plans to proceed with a luxurious 32 suite booutique hotel inside their Casa del Mar resort. The Zoetry Casa del Mar will be operated and promoted under the Sap and Wellness brand of the same name, Zoetry. The plans show 4 new swimming pools, in addition to the spa and fitness center and new restaurants. An all-incusive package is to be available for guests and hopes are to have everything ready for December 2009.

While construction has slowed and in some cases ceased this has not been the case with Quivira, many visitors to Los Cabos will not be aware of this ultra-luxury development as it is located on the Pacific side north of Sunset Beach. Covering 1850 acres the development will be the home of the long awaited Ritz Carlton hotel, 2 Nicklaus designed golf courses and provide private homes. Prices are to start in the $4 million range with home owners fees around $4000 per month so the intent is to compete with the home buyers looking at options in Palmilla, Querencia, and Puerto Los Cabos. What it also suggests is that while the economy in North America and the world as a whole is suffering the long term prospects for Los Cabos remain strong in the long term.