cabo san lucas, THEN AND NOW

By nick fong, broker, los cabos agent

 Cabo San Lucas (in English, Cape Saint Luke) commonly known as Cabo is a city at the southern tip of the Baja California Peninsula, in the Mexican state of Baja California Sur.  Cabo San Lucas and San Jose del Cabo constitute what is known as Los Cabos.
Today Cabo is a well-known resort destination, noteworthy for its beaches, scuba diving locations, the sea arch El Arco de Cabo San Lucas and aquatic presence. And let’s not forget the many famous golf courses the area has to offer.
Quality hotels, vacation homes and timeshares along the corridor make Cabo the perfect retirement or vacation destination.  Year round living in Cabo is perfect for those tired of the hustle bustle north of the border.
But all of this did not spring abruptly from a deserted rocky coast (although the transition seems expeditious to old timers of Cabo).  So what was here before Cabo became famous?
Archaeological excavations have shown evidence of continual human habitation in the area for at least ten thousand years. When the first Europeans arrived, they encountered the Pericú people, who survived on a subsistence diet based on hunting and the gathering of seeds, roots, shellfish, and other marine resources..
Francisco de Ulloa, Cortez’ navigator first came to Cabo San Lucas in 1537.
A fishing village began growing in the area when in 1917. An American company built a floating platform to catch tuna, and ten years later founded Compañía de Productos Marinos S.A. The plant operated for several years...
The advancement of Cabo’s tourism industry was prompted by the Mexican government's development of infrastructure to turn Cabo San Lucas into a major center for tourism in Mexico, beginning in 1974. Upon completion of the Trans peninsular Highway, also known as the Mexican Federal Highway 1, touristic developments in Los Cabs commenced.
In 1973, realizing that many foreigners would enjoy owning a retirement or vacation home in Mexico, and would bring essential dollars to the country through such ownership, the Mexican bank trust, the Fideicomiso, was established and ratified for the purchase of real estate located in the restricted zone. For the first time since 1917, a non-Mexican could invest in a recreation or retirement home and feel confident that his or her investment was secure.
The real estate market in Cabo San Lucas comprises some very desirable property. Cabo San Lucas has remained vigorous while other areas of the world market have ebbed.
Together there are 5 distinct areas throughout our 200 square miles. Each area offers a special essence and a collection of real estate choices. Now is a perfect time to invest in Los Cabos.

San Jose Del Cabo                                                                                         
Historically rich, with discretion taken to preserve its natural Mexican flavor.  The quieter of the two towns of San Jose del Cabo and Cabo San Lucas.  Great restaurants with the town closing down pretty much after 10pm. 

The Corridor
The majority of foreigners purchase in the Corridor which is the 20 miles between the two towns of Cabo San Lucas and San Jose del Cabo.  It is popular for its easy access to shopping, beaches, either town, and the airport.

Cabo San Lucas
Exciting and tons of action.  The famous Medano Beach and the Cabo San Lucas Marina entertains from early morning to late at night with restaurants, activities/tours, and bars. 

The East Cape
Serene shores, secluded beaches and unsurpassed opportunity.  Most areas located less than 1  hour from the International Airport. 

Pacific Corridor
Where the Baja growth is heading.  The new toll road from the airport this is quickly becoming the area most are looking at for still affordable living options close to the beach.

Prices at the top end are now $1,300 to $1,400 a square foot—30% to 40% higher than during the down years of 2009 and 2010. These figures include prime land costs and top-end construction of “air-conditioned space” (excluding terraces and patios). During the peak years from 2004 to 2007, top-end prices were a bit more at about $1,400 to $1,500 a square foot,
Sales reported to multiple listing services were up 18% in 2014 compared with the year prior, despite the hurricane,  
There are several reasons that Cabo San Lucas real estate continues to be active.  One reason is the old real estate motto - Location - Location - Location!  Cabo San Lucas is located less than 2½ hours, by air from its single largest market of buyers. Another reason is that Cabo San Lucas is considered to be a very safe location.  In fact, Baja California Sur is the safest state in all of México and Cabo San Lucas is one of the safest cities in the state. 
Cabo is one of the very few “Tropical Deserts” in the world-only 7 inches of rain a year, and no rainy season, virtually a sun guarantee, with relatively low humidity compared with other tropical areas due the absence of rain, and the influence of the cooler Pacific breezes. This and close proximity, more than anything else, has been the reason for Cabo’s popularity.
By Nick Fong, Broker, Los Cabos Agent, 312-725-3664 US Line, 624-157-3170 Cabo Line​