Estudio de Mercado Todos Santos: Todos Santos is gaining international recognition as a boho-chic Baja California Sur destination, conveniently located 50 minutes from Los Cabos International Airport and 50 minutes from La Paz. Its privileged geographical characteristics have led this town to have seen a cultural revolution, differentiating itself from its neighbors – Cabo San Lucas, San José del Cabo and La Paz.
Its unique climate, abundance of water and the name of Pueblo Mágico have led internationally renowned artists, organic farmers and even Hollywood personalities to seek to settle in this destination.
In April 2019 it was announced that four new boutique hotels would soon begin to be built in Todos Santos; one of these hotels will be carried out by the local promoter Ernesto Coppel from Grupo Pueblo Bonito and another by the international group Our Habitas Hotels . Forbes , LA Times , NY Times, and Vogue have published recent articles on how Todos Santos is Mexico’s best-kept secret with laid-back boutique hotels, small bistros, and quaint streets.
THE REAL ESTATE SECTOR
Todos Santos is still a small city and quite far from the cities – many of the sales between residents continue to be carried out through private contracts. Despite the increase in real estate activity in this Magical Town, the market has taken a different approach to the recent explosion of activity. The historical average of the price per square meter has been maintained, however the list prices have increased. This behavior is also due to the fact that the type of inventory available has evolved – larger houses, larger housing sites, and larger development plots.
PLOTS TO DEVELOP
The following characteristics were considered as parcels to develop comparable: from 20,000 to 100,000 square meters from the town of Elias Calles to the north coast of Todos Santos divided into land with street frontage and land with beach frontage from the last three years.
There have been five sales of plots to develop in the past three years, as is to be expected, those with a beach front carry a capital gain over those that do not – although the average square meters are similar.
Beachfront land on average sells for $ 44 per square meter compared to $ 7 for streetfront land; this variation margin is also reflected in the list prices. There is more demand for beachfront plots, and this being a limited resource, has led to the prices offered increasing along with the demand.
Today there are only four plots to develop with beach front, these with an average of almost 55,000 square meters offered at an average of $ 87 USD per square meter, compared to 11 plots in front of the street, of smaller size, and this Being a limited resource, it has led to the prices offered increasing along with the demand. Today there are only four plots to develop with beach front, with an average of almost 55,000 square meters offered at an average of $ 87 USD per square meter, compared to 11 plots in front of the street, of smaller extension (39,000 square meters ) and $ 16 USD per square meter.
Properties that operate as Boutique Hotels with more than seven rooms in Cerritos, Pescadero and Todos Santos and their movement in the last three years were considered. There is one registered sale in Cerritos, one contract sale in Pescadero, one hotel for sale in Pescadero, and four for sale in Todos Santos.
Baja California Sur as a destination had an 8.5% increase in tourism in 2019, receiving more than four million visitors. The Magical Town of Todos Santos experienced an exponential increase in its tourist influx, raising the average daily rate to $ 140 USD and average annual occupancy to 50%, with an average occupancy of 80% in the months of October to February.
The single-family residences in Cerritos, Elias Calles, Pescadero and Todos Santos and their movement in the last three years were considered as houses. For the size of the town of Todos Santos, there has been a lot of activity in houses with 93 sales closed in the last three years, nine are under contract and there are 50 properties listed for sale.
Similar to what is observed in the beachfront lands, the houses located in front of the beach carry a greater capital gain than those that do not. For this reason, it is observed that the average price per square meter in Pescadero is higher, $ 3,340 USD, compared to Todos Santos, $ 2,188 USD where the houses are concentrated in the Historic Center. The Todos Santos home market is very diverse, ranging from one-bedroom country-side cottages to 6-bedroom luxury mansions. Due to its versatility, this market offers a product for almost every type of buyer – house in front of the beaches in world-renowned surf spots, houses in the center of the Magical Town, house in organic agriculture farms or simply away from the cities Los Cabos and La Paz main cities.
Multifamily properties with four or more residences in Cerritos, Pescadero and Todos Santos and their movement in the last three years were considered as apartments. For the size of the town of Todos Santos there is a lot of local activity registered with 93 sales closed in the last three years, nine are under contract and 50 properties listed for sale.
The apartments are a relatively new product for Todos Santos with the opening of Cerritos Surf Residences, Villas de Cerritos, The Vibe Flats, Villas de Todos Santos, etc. They serve the seasonal population of the Todos Santos area. With the trend of the boho-chic consumer looking to simplify their home, low-density apartment developments are in demand in the area. An apartment allows you to have the comfort of a private home without the responsibility that comes with maintaining a home.
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