Diversity in the La Paz Real Estate Market.

The development in La Paz has not been limited to foreign investment, as in many other Baja markets. The strong middle class in the city along with the increased availability of credit and home equity has brought the renovation of existing homes and sprouted massive tract home developments

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The most outstanding difference between La Paz and other real estate markets in Baja is the diversity of properties available. Like other markets there are new single family constructions available. But the unique offerings of La Paz are the existing homes or new constructions in established parts of the city.

On the southwest side of town there are Comitan and Chimetla where individual lots and homes and significant residential developments are underway. There are also some select existing homes, built on large lots where landscaping has had time to grow in. As this area has grown, infrastructure has begun to mature with markets and restaurants sprouting up.

To the southeast are the booming areas of El Sargento and La Ventana. Located about 20 minutes drive from major shopping centers, the areas has been a favorite of windsurfers and kiters for years. Today, unique individual homes, lots, commercial and small residential developments in the area are drawing significant attention and proving to be sound financial investments. This area is appreciating quickly and if you are looking for a bargain in this area, you should move quickly.

On the northern end of town there are grand designs already being implemented. Maravia Country Club Estates located near the popular Balandra and Tecolote beaches have broken ground on several new homes in a development planned to have golf, desalinated water supply and solar power. The phase 1 lots start at $75,000 and are selling quickly. The developer offers several house designs, and in combination with the lot price would allow you enjoy coastal living in a new home for the low $200K’s, depending on lot and options. Future plans include an 18 hole golf course, Palapa Bar and mini-mall. The project overlooks the beautiful San Lorenzo Channel and the southern end of Espritu Santos Island, a federally protected reserve.

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Closer into town is the new Costa Baja Resort and Marina. The first phase of this project has been completed and the Beach Club/Spa is under construction. Boasting a 200+ slip marina, frontage on one of the best beaches local to La Paz and outstanding access to the Sea of Cortez, they project is to break ground on a Gary Player designed golf course this fall. Restaurants and night life are gaining momentum in the Pueblo Marinaro along with laundry services, gift shop bus tours, excursion charters and a mini market. Not just a dream on the drawing board CostaBaja will soon be constructing million dollar beachfront condos, fractional ownership units and golf course living.

In La Paz proper there are a variety of new real estate projects underway. The Villa la Posada complex will include condominiums and poolside two and three level designs as well as bay view condos in the 8 story tower. In the same area, the former Gran Baja Hotel has been for years. Construction has begun to renovate the property into condominiums and fractional ownership vacation units. These projects are just part of the changing face of the La Posada area of La Paz. Single family homes and even some lots are still available in this area, where real estate values will benefit greatly as these two projects come to fruition.

As said earlier, unique to La Paz are downtown properties including new homes, existing homes, and homes suitable renovation or multi-family constructions. La Paz has a vibrant core around which most of these properties put you within easy walking distance of a wide variety of stores and restaurants. The city has already taken steps to avoid the urban decay prevalent as older cities expand into suburban housing and mall shopping. Plans to turn El Centro streets into pedestrian walkways dotted with galleries and fine dining adjacent to the civic focal point of the Malécon. The city offers areas where this renovation has already taken place, with beautifully rejuvenated dwellings that have maintained the original architecture and offer interior gardens. There are also opportunities available on the expanding fringes of these refurbished areas that should prove to be solid investments for renovation or new construction.

All of these real estate opportunities have their positive aspects as well as down sides. When looking for real estate in La Paz, particularly as a foreign investor, it is wise to have a real estate representative who has only your interests at heart. As buyer’s representatives with more than 30 years of experience in Mexico real estate, we at Dorado Properties can help you sort through the myriad of properties available through in La Paz to find the investment that is right for you. And through our association with our sister company, The Settlement Company, our combined experience will speed and simplify the escrow and closing as well as guard the security of your investment.

We at Dorado Properties look forward to assisting you with your real estate opportunities and Baja California Sur and will be delighted to provide you with additional guidance. Come join us in La Paz for a future that is sure to be vital and exciting while continuing to provide that style and quality of life that is known as Baja California Sur.

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