Located on Mexico’s Baja Peninsula, Cabo San Lucas is a stretch of paradise that offers unparalleled safety, beauty, affordability, and comfort for those seeking a relaxed lifestyle.
Cabo San Lucas is a great place to make a real estate investment, with its breathtaking views, laid-back culture, and easy living.
In this article, we will take a look into the area’s real estate market, with a focus on Cabo San Lucas condos for sale and the best neighborhoods to consider investing in.
Why Choose a Condo in Cabo San Lucas?
One of the reasons home buyers and investors are drawn to Cabo San Lucas is its location on the southern tip of the Baja Peninsula, which keeps this city naturally separated from the mainland.
This geographical aspect limits casual transit into Cabo San Lucas, making it one of the safest areas in Mexico. Residents and visitors can only arrive by air or sea, usually via private jets and yachts.
Condos for sale in Cabo San Lucas are an excellent option for those who prefer to live a relaxed lifestyle with access to world-class amenities, such as top-tier gyms, pickleball courts, swimming pools, and on-site restaurants and bars.
Living in a Cabo San Lucas condo offers a secure and private place where you can slow down, enjoy a comfortable routine, and still have access to modern amenities.
Understanding the Cabo Condo Market
On average, condos in Cabo San Lucas are priced around $580,000. However, prices can vary significantly based on location, size, and amenities. For example, luxury condos in highly desirable areas like Pedregal can be much higher than in other neighborhoods.
In sought-after neighborhoods like Pedregal, which is known for its luxurious living and breathtaking ocean views, the prices of condos can easily exceed $1 million.
You can find mid-range condos in areas like Cabo del Sol or El Tezal. The price range of condos in these locations range between $500,000 and $800,000.
More affordable condos are located further from the beach or popular tourist areas. These sell for under $500,000.
Top Neighborhoods for Cabo San Lucas Condos
Medano Beach
Medano Beach is known for its vibrant atmosphere, beachfront bars and restaurants, and water activities. It’s a great neighborhood for those who prefer a lively beach lifestyle.
Located in the heart of Cabo San Lucas, Medano Beach is easily accessible and close to popular attractions and activities, such as jet skiing, parasailing, paddleboarding, and boat tours.
The neighborhood features a wide range of condos, from affordable units to luxurious properties that offer access to resort facilities and golf courses.
The Marina
The Marina is ideal for those who are seeking a home with waterfront access. Given its proximity to the marina, residents enjoy spectacular views, boat tours, fishing charters, and access to various water sports.
This lively neighborhood boasts numerous upscale restaurants, shops, and vibrant nightlife.
The Marina is conveniently close to other popular areas in Cabo San Lucas, such as Medano Beach. It also offers easy access to various transportation options.
Pedregal
Pedregal is a well-established, gated community coveted for its luxurious homes and condos, with beachfront and ocean view options. Its picturesque hillside location offers stunning views of the Pacific Ocean and Sea of Cortez.
The neighborhood is the perfect location for buyers seeking luxury, security, and spectacular vistas. Residents enjoy access to resort-like amenities, such as a private beach, tennis courts, and a spa.
The Corridor
The Corridor is a desirable location due to its stunning scenery, world-class golf courses, marinas, fine dining, and proximity to both Cabo San Lucas and San Jose del Cabo. The area offers mesmerizing views of the Sea of Cortez and the surrounding desert landscape.
The neighborhood is home to upscale villas, condos, penthouses, and resorts, making it appealing for those seeking luxury living or investment opportunities.
Downtown Cabo San Lucas
Downtown Cabo San Lucas is a lively neighborhood known for its vibrant nightlife, restaurants, bars, shops, and proximity to the marina. It is centrally located, making it easy for residents to access various attractions and water activities.
The area offers a range of condos, from smaller, more affordable units to luxurious penthouses with beautiful ocean views.
Buying a Condo in Cabo San Lucas: A Guide for Foreigners
Buying a condo in Mexico as a foreigner involves unique legal processes and considerations, so it is recommended that you work with a licensed real estate agent who is knowledgeable about the local market.
Research the areas and neighborhoods where you’d like to buy a condo, taking into consideration factors like safety, amenities, proximity to services, and other personal preferences.
It is important to learn about Mexico’s legal framework regarding property ownership by foreigners. In most cases, foreigners are not allowed to directly own property within 50 kilometers of the coast.
However, there are legal ways to acquire property within these zones, such as through a bank trust, called fideicomiso, or a Mexican corporation.
In a fideicomiso arrangement, a Mexican bank acts as the trustee. The bank holds the legal title to the property on behalf of the foreign buyer, who is the beneficiary of the trust and retains all rights of ownership, including the right to use, sell, rent, or bequeath the property.
The trust is valid for 50 years, with the option to renew for additional 50-year terms indefinitely.
Another option is to purchase the property through a Mexican corporation. This, however, involves more complex legal processes and ongoing administrative requirements but may provide additional benefits depending on your situation.
Once you have made an offer on a property, and the seller accepts it, a formal escrow agreement is signed. This agreement outlines the terms of the purchase, including the purchase price, closing date, and other conditions.
The funds are then deposited into the escrow account, and you, the buyer, will conduct due diligence. This may include inspections, appraisals, and title searches.
Once all conditions are met, the escrow agent releases the funds to the seller, and the title to the property is transferred to the buyer.
Conclusion
Cabo San Lucas, a paradise of unparalleled beauty, is the perfect place to make a real estate investment. With its breathtaking views, laid-back culture, and easy living, this city’s condos are an appealing option for those seeking to live here or own a rental property.
If you’d like to know all your real estate options in Cabo San Lucas, feel free to give me a call today at +52-624-147-5033 or send me an email at jimgladgo@gmail.com to schedule an appointment.
Frequently Asked Questions
Can foreigners own a condo in Cabo San Lucas?
Yes, foreigners own a condo in Cabo San Lucas. However, buying a property in Mexico involves unique legal processes and considerations, so it is recommended that you work with a licensed real estate agent who is knowledgeable about the local market.
What are the average prices for condos in Cabo San Lucas?
On average, condos in Cabo San Lucas are priced around $580,000 but prices can vary significantly based on location, size, and amenities.
What are the best neighborhoods to buy a condo in Cabo?
The best neighborhoods to buy a condo in Cabo are Medano Beach, The Marina, Pedregal, The Corridor, and Downtown Cabo San Lucas.
