SOURCE: Baja Real Estate Group

Baja Real Estate Group

May 16, 2011 11:00 ET

Real Estate Sales up in the Riviera Baja

Three Neighborhoods Report New Sales as Tourism Recovers in Baja

LOS ANGELES, CA--(Marketwire - May 16, 2011) - Home sales are up in Riviera Baja, the area of resort oceanfront communities between Tijuana and Ensenada. Three communities, Naos, Calafia and Las Gaviotas, all located in the Riviera Baja, have reported new sales and are continuing to boost the economy as tourism recovers in Mexico.

The newest community in Riviera Baja, Naos, has sold two units and taken a reservation for another. Sales kicked off for this high-rise residential tower last month. A wellness-inspired community, Naos is a $200 million project developed by Central de Arquitectura of Mexico City. The 20-story oceanfront tower will comprise 394 homes upon its completion, split into three high-rise towers. Central de Arquitectura is also developing the popular Nima Bay resort in Puerto Vallarta, where ten units have been sold since the beginning of the year.

According to Baja California State Secretary of Tourism Juan Tintos Funcke, tourism is showing signs of recovery in Baja California.

"We're going to be more present in California to put this message across that we are in a very good situation, that tourists are welcome," said Tintos at the Mexican Consulate in San Diego, commenting on his plans for a media campaign in California to boost tourism in Baja.

Another development with a recent upsurge in activity is Calafia Condos, Resort and Villas, a 16-story residential tower just steps from the Pacific Ocean in Rosarito Beach, which has sold three units since the beginning of the year and has had multiple offers on additional residences as well. Calafia's luxury-class condos range from $250,000 for a two-bedroom oceanfront residence to $650,000 for a 16th-floor penthouse. Two- or three-bedroom floor plans are offered with reserved parking and a variety of choices are available to personalize each residence, from granite countertops and kitchen cabinetry to tile floors and bathroom finishes.

A recent buyer at Calafia says the slow pace of Baja, the relaxed atmosphere and the friendly people are what attracted her to the area. American expatriate Kristy Hugstad, who just purchased a two-bedroom, two-bath unit in Tower III with her husband said, "We chose Calafia because of the energy it has to offer in an established community. We can hear the waves crashing outside our window and we never could have gotten that in the states for anywhere near the price we paid."

According to Max Katz, owner of Baja Real Estate Group in Rosarito Beach, the real estate market in Northern Baja has rekindled recently, and interest in the area is on the rise. "Long-term leases are up in the Rosarito area, which bodes well, as Americans are now signing six-month leases again for vacation properties," the veteran real estate broker said.

"We're very bullish about the Rosarito real estate market," Katz added. "With the new international convention center opening in 2012 near Naos and millions of dollars being invested into improving border wait times in San Diego, real estate investors as well as retirees have much to offer them here."

Even the older communities are selling fast in Rivera Baja. One of the oldest developments in Rosarito Beach, Las Gaviotas, was established more than 30 years ago and includes 298 homes hugging the Pacific Ocean. The gated resort community is eight miles south of Rosarito Beach and has closed six resale units in the last six months with two more sales pending.

All homes at Las Gaviotas are individually owned and guests and owners can use the private beach, huge swimming pool, Jacuzzi, tennis court, shuffleboard and playground. Also a surfing destination, residents at Las Gaviotas enjoy beachfront access and 24-hour security.

Gustavo Torre from the Rosarito Beach Hotel agrees.

"In the first three months of 2011, we've seen a measurable increase in calls and in room reservations from California residents compared to the last two years," Torres said. "From what we've seen, we can say that there's renewed interest in the Baja coastal region, at least among Southern Californians. This is aside from the continuously growing market that the Baja coastal hotels have captured from Tijuana, Mexicali, Sonora, and increasingly, southern Mexico."

Seasoned Los Angeles-based Realtor, Hector Aguilar, has a positive outlook on the real estate market in Baja, especially with developments like Naos attracting buyers to the area.

"The real estate market seems to be in a forward progression. With so many great priced properties available on the Riviera Baja coast, it will certainly attract future baby boomers and other consumers looking to invest in reasonably priced ocean-front living," stated Aguilar. "Developments like Naos stand out in Baja; it is on a great piece of land which attracts potential buyers. Central De Aquitectura has done an excellent job understanding the needs of the consumer and has delivered a product that will ensure successful sales of the entire condo tower and improve the quality of homes in the area."

For more information about Baja real estate, contact Baja Real Estate Group at www.BajaREgroup.com.

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