2021 MARKET REPORT LOS CABOS, MEXICO

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Casa Hidalgo

ENGEL & VÖLKERS SNELL REAL ESTATE

February 2022. Copyright 2022 ©️ by Engel & Völkers Snell Real Estate. All rights reserved. No part of this publication may be reproduced or adapted in any manner. Data and marketing subject to change.

2021 MARKET REPORT LOS CABOS, MEXICO


snellrealestate.com loscabos.evrealestate.com In Los Cabos (624) 105-8100 | Toll Free 1-866-650-5845 info@snellrealestate.com


CONTENTS

YEAR IN REVIEW WITH THE CEO — VANESSA FUKUNAGA

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COMPANY OVERVIEW 6 LOS CABOS — THE FIRST CHOICE FOR INVESTMENT

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4-YEAR MARKET PERFORMANCE 10 MEDIAN SOLD PRICE 12 CURRENT INVENTORY 14 HIGHLIGHTS BY COMMUNITY 16 HIGHLIGHTS BY DEVELOPMENTS 22 KEY DEMOGRAPHICS 28 NOTABLE BUYING TRENDS 30 AWARD-WINNING 32 FEATURED SALES 34 FEATURED LISTINGS 36

**The information in this report covers data on the full year of 2021 and includes a comparison of 2020. Data is based on MLS sales in Mexico´s Baja California Sur market. Release date: February 2022.


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YEAR IN REVIEW WITH VANESSA FUKUNAGA As I look back on 2021, it´s clearly been far from ordinary — in fact, it´s been EXTRA-ORDINARY. 2021 will go down as Engel & Völkers Snell Real Estate’s STRONGEST year on RECORD with having reached a staggering sales volume that has clearly surpassed all previous records, now positioning the brokerage at nearly $3B in sales since inception. Key 2021 Highlights: • 250 TRANSACTIONS • NEARLY 3X THE GROWTH IN SALES VOLUME FROM 2020 • MULTIPLE MILESTONE SALES • OFFICE EXPANSION INCLUDING LA VENTANA, LA PAZ When it comes to the entire Baja California Sur market, the constant flurry of activity has resulted in a sales increase nearly triple the amount from 2020. The data is just BEYOND, demand has reached record levels and the market is RED HOT! There´s no question that investing in real estate is, and will always be, the safest way to preserve wealth and we are thrilled that so many of you have looked to call Los Cabos home. It really is the destination dreams are made of. Engel & Völkers Snell Real Estate is a leading voice in the global luxury market. Connecting iconic properties with discerning buyers is what we do and it´s our extensive market knowledge combined with our drive for excellence that makes us the #1 top-producing brokerage in the Baja California Sur. As we continue to monitor current trends and prioritize a market specialization that resonates with the dynamics of buyers and sellers — we keep our finger on the pulse. Thinking beyond the traditional market practices, we are leading the charge forward into the future and revolutionizing the way luxury real estate is sold. Now stepping forward into 2022, we are thrilled to celebrate 25 YEARS of serving the real estate sector and drawing the spotlight to Los Cabos for generations of families. We thank you for believing in our mission and continually placing your trust in us. There´s certainly no stopping the incredible trajectory on which the brokerage is soaring. In the pages to follow, we´ve prepared a comprehensive compilation of research detailing information based on market performance, median sold price, current inventory, communities, developments, key demographics, notable trends and so much more. Our hope is that this market brief will provide you with insight and perspective into long-term property and lifestyle investment in Los Cabos, Mexico. We invite you to experience an extraordinary way of life with us. Welcome to Engel & Völkers Snell Real Estate.

VANESSA FUKUNAGA Owner, President | CEO Engel & Völkers Snell Real Estate Owner, Publisher | CEO Ocean Blue World

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COMPANY OVERVIEW

25 7

YEARS IN BUSINESS

OFFICES THROUGHOUT THE B.C.S. + GROWING

PREMIUM HOMEOWNER PROPERTIES IN TOP-LEVEL COMMUNITIES

EXCLUSIVE DEVELOPER LISTINGS

6

25


5 CONSECUTIVE

YEARS AS BEST REAL ESTATE AGENCY IN MEXICO, INTERNATIONAL PROPERTY AWARDS

12 YEARS AS

THE REGION´S #1 BROKERAGE FOR SALES VOLUME

60+

TOP PRODUCING ADVISORS AND SUPPORT STAFF

ENGEL & VÖLKERS GLOBAL NETWORK OF 15,481 MEMBERS AND 1,014 SHOPS

WORK WITH US

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LOS CABOS — THE FIRST CHOICE FOR INVESTMENT

Purchasing in Los Cabos, Mexico makes for a truly incredible buying opportunity. Buyers are drawn to Los Cabos for ease of travel, comfortable temperatures, exquisite beaches, recreational activities, the finest in amenities, arts and culture, philanthropy, and value for money representation in terms of second and third home markets. It’s the travel and leisure worlds, media and celebrities, confident investors, and people of high net worth from the USA, Canada, Mexico, Europe, Russia, Asia and Australia who continue to place Los Cabos as their first choice for investment. #VACATIONINVESTRETIRE

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EXPERIENCE LIFE BY THE OCEAN

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4-YEAR MARKET PERFORMANCE In 2021, Engel & Völkers Snell Real Estate achieved a sales volume increase of nearly THREE TIMES the amount from 2020, and as a result, it was the brokerage´s STRONGEST year on RECORD. **The values below represent Engel & Völkers Snell Real Estate´s 4-year market performance based on number of transactions for single-family homes, condominiums and lots.

TOTAL NUMBER OF TRANSACTIONS 250 225 200 175 150 125 100 75 50 25 0 2018

2019

YEARS

10

2020

2021


NUMBER OF TRANSACTIONS FOR SINGLE-FAMILY HOMES, CONDOMINIUMS AND LOTS

120 110 100 90 80 70 60 50 40 30 20 10 2018

2019

2020

2021

HOUSES CONDO LAND

CONTACT LOS CABOS´ #1 LUXURY BROKERAGE

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MEDIAN SOLD PRICE An uptick in multiple offers on well-priced properties has often resulted in over the asking price. **The values below represent the median sold prices of condominiums and single-family homes over a four-year period in Mexico´s Baja California Sur MLS market.

MEDIAN SOLD PRICE, ALL PROPERTIES, ALL MLS $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 2018 CONDO HOUSES

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2019

2020

2021


West Enclave 25, A Ritz-Carlton Reserve Residence

MEDIAN SOLD PRICE, LUXURY PROPERTIES $1M+, ALL MLS $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0

2018

2019

2020

2021

CONDO HOUSES

GET IN TOUCH

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CURRENT INVENTORY #WeKnowCabo. Whether you’re looking for single-family homes, condominiums, developer or land opportunities, or commercial offerings, all with breathtaking ocean, golf and mountain views — we´ve got you covered. The constant demand and ever-growing need for homes in the Los Cabos area, means buyers and sellers continue to look for long-term property investments with the prospect of stable returns and a high quality of life. There´s no better moment to get in the game. **The values below represent all MLS in Mexico´s Baja California Sur market.

442 688 937 53 14

SINGLE-FAMILY HOMES Listing inventory value more than $800M USD

CONDOMINIUMS Listing inventory value nearly $350M USD

DEVELOPER OPPORTUNITIES/LAND Listing inventory value more than $1.2B USD

COMMERCIAL Listing inventory value more than $109M USD


Casa Anna

OPPORTUNITY STARTS HERE

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HIGHLIGHTS BY COMMUNITY Actively selling in the region´s most sought-after communities including Palmilla, Querencia, Puerto Los Cabos, Cabo Colorado and Rancho Cerro Colorado, Cabo del Sol, Pedregal, East Cape, Todos Santos, La Ventana in La Paz and many more. Total sales volume represents all MLS sales in Mexico´s Baja California Sur market.

PALMILLA Home to some of the most remarkable homes in the world, this full-scale community provides the highest level of luxury offering single family homes, high-end condominiums and homesites all at different price points. Total sales volume 2020 - $59M Total sales volume 2021 - $260M

QUERENCIA With awe-inspiring views of the sparkling Sea of Cortez, rugged desert mountains and pristine golf greens from every direction, each home in Querencia offers the assurance of privacy, space and tranquility. Total sales volume 2020 - $18M Total sales volume 2021 - $203M

PUERTO LOS CABOS This 2,000-acre master-planned community east of San Jose del Cabo enjoys privacy and exclusivity. A setting of nature at its best with desert and coastline vistas, Puerto Los Cabos offers an unprecedented selection of recreational and leisure activities. Total sales volume 2020 - $10M Total sales volume 2021 - $93M 16


CABO COLORADO & RANCHO CERRO COLORADO Positioned between San Jose del Cabo and Cabo San Lucas, enjoy a myriad of nearby amenity options including world-class golf courses, the best swimmable beaches, luxury retail and a culinary selection like no other. Total sales volume 2020 - $9.7M Total sales volume 2021 - $20.9M

CABO DEL SOL Surrounded by endless opportunities for dining and entertainment, desert and mountain adventures, enjoyment on the greens, and the best snorkeling sites of the exquisite Sea of Cortez, Cabo del Sol is is a treasured community for couples, families and adventure seekers. Total sales volume 2020 - $1.34M Total sales volume 2021 - $21.45M

PEDREGAL For

generations,

Pedregal

has

provided

homeowners with the art of refined living. Reflecting

old

world

Mexican

charm,

the

community is a beacon for outdoor activities and its ideal location is minutes away from the city´s marina, restaurants and shopping areas. Total sales volume 2020 - $27M Total sales volume 2021 - $74M

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EAST CAPE A journey through this idyllic landscape will take you from the kitesurfing and fishing mecca of Los Barriles in the north, to the solar community of Zacatitos in the south. Known principally for its unspoiled nature, life on the East Cape is about peaceful days spent by the sea. Total sales volume 2020 - $28M Total sales volume 2021 - $118M

TODOS SANTOS A treasured place for the authentic Baja lifestyle experience. The picturesque village of Todos Santos has been drawing travelers, investors, wild-life enthusiasts, artists and beach lovers for decades with its small-town vibe and sense of a peaceful getaway. Total sales volume 2020 - $8M Total sales volume 2021 - $39M

LA VENTANA, LA PAZ An under-the-radar hideaway with remarkable surrounding areas, La Ventana in La Paz provides the perfect backdrop to unwind, relax and enjoy a high-quality standard of living connected by both nature and adventure. Total sales volume 2020 - $8M Total sales volume 2021 - $10M NEW OFFICE NOW OPEN

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Casa Mes Amours

SEARCH HOMES

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CLUB CAMPESTRE Established on over 550 acres, Club Campestre is a low-density neighborhood surrounded by the beauty of the Baja desert and immaculate green fairways. Boasting ocean, golf, city and desert mountain views, this master planned, tranquil community offers an incredible family lifestyle. Total sales volume 2020 - $3.2M Total sales volume 2021 - $7.69M

CHILENO BAY A contemporary sanctuary nestled on one of Cabo´s most desirable beaches, Chileno Bay offers both adventure and serenity in style. Blurring the line between indoor and outdoor living, create family magic and experience the classic Baja escape.

RANCHO SAN LUCAS Experience everything Los Cabos has to offer on both land and sea at Rancho San Lucas. Offering single-family homes and private estates with endless amenities and activities, this community truly explores the unequaled beauty of the landscape. Total sales volume 2021 - $24.9M

THE PACIFIC Exhibiting its own kind of tranquility, the Pacific side has cooler temperatures, wide open pristine beaches, the best spots for whale watching and less developed land. Including the regions of Pedregal, Todos Santos, Los Cerritos, Migriño, El Pescadero, Solmar and many more, the Pacific is made to be explored. Total sales volume 2020 - $26.1M Total sales volume 2021 - $151.5M

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FOUR SEASONS AT COSTA PALMAS Nestled on 2 miles of untouched beachfront, Four Seasons Resort at Costa Palmas fills your days with swimming, snorkeling, sport fishing, golf and desert adventures. A tropical calm on the Sea of Cortez, this location boasts striking residences and villas.

MARAVILLA Maravilla Los Cabos is an community and club located on of the Twin Dolphin Master Plan oceanfront neighborhood offers custom homesites to beachfront

energy-conscious the Corridor. Part development, this everything from villas blending in

endless opportunities for outdoor adventure.

EL DORADO Featuring traditional Spanish architecture combined with modern luxury, the luxurious private community of El Dorado is renowned for its world-class amenities, member services and exceptional residences. Familyorientated and laid-back, experience unparalleled living in a one-of-a-kind location.

DIAMANTE CABO SAN LUCAS A paradise of beauty, privacy, luxury and world-class service, Diamante presents a diverse set of amenities with purchasing opportunities that include residences, villas, estates and suites. More than a luxury resort, it´s a way of life at Diamante Cabo San Lucas. Total sales volume 2020 - $1.8M Total sales volume 2021 - $50.8M

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HIGHLIGHTS BY DEVELOPMENTS Exclusively represented by Engel & Völkers Snell Real Estate

THE RESIDENCES AT LAS VENTANAS AL PARAISO, A ROSEWOOD RESORT For 24 years, Las Ventanas al Paraíso has expertly blended the very best of Mexico presenting extraordinary places of residence in company with first-class personalized Rosewood services. For those who expect unmatched luxury with perfection, there simply is no better place to call home than The Residences at Las Ventanas al Paraíso. #OwnYourKeyToParadise. • All Penthouses now sold out • 6 Signature Residences remain starting at $2.5M USD • 3 Pool Residences remain starting at $2.9M USD • Location: Corridor View listings at The Residences at Las Ventanas al Paraíso. lasventanas@snellrealestate.com

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THE PARAISO RESIDENCES Located in the heart of the Cabo San Lucas marina, The Paraíso Residences brings urban luxury living to the foreground. Connected to the famed Luxury Avenue Shopping Mall, this vibrant residential community of private residences and vacation properties delivers architectural sophistication and sleek elegance with one-of-a-kind exquisite marina views. Experience Cabo´s hottest address. • 18 Residences remain from the initial 58 Bliss Residences Phase I • Residences starting at $390,000 USD up to $1,860,000 USD • 1 - 4 bedrooms • Location: Cabo San Lucas marina • By the developers FREL View listings at The Paraíso Residences. paraiso@snellrealestate.com

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THE BREAK AT EL ARENAL The Break at El Arenal introduces 10 remarkable residences each with privileged 220° Sea of Cortez views that overlook the entire bay of San Jose del Cabo. Located on the iconic Costa Azul cliffside, the two- and three-bedroom residences present a turnkey fully furnished option with amenities including rooftop terraces, pool and bar with lounging area, and a wellness room. In seamless harmony with the surrounding Baja mountains and ocean, homeowners and guests are set to experience a landscape of breathtaking natural beauty. • 2 Residences remain • Construction is well underway with the fourth story under completion • Location: San Jose del Cabo • Architectural real estate development company AMBRA is the investor and operator • DD3 Capital Partners act as the majority investor and loan personal guarantor View listings at The Break at El Arenal. thebreak@snellrealestate.com

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CABO MARE Cabo Mare is a coastal community that magically merges modern architecture with the organic soulfulness of the earth. Combining contemporary influences, timeless aesthetics and breathtaking panoramic views, these ocean view residences and villas are a true reflection of all things Cabo. Each three- and four-bedroom residence offers up to 4,908 sq.ft of pure luxury living. • 9 Residences • Base values starting from $1,138,000 USD • Location: Rancho Cerro Colorado • Scheduled for opening with a model villa in May 2022 • By Californian developer and architecture Kom Studio View listings at Cabo Mare. cabomare@snellrealestate.com

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OCEANA WELLNESS RESIDENCES Oceana Wellness Residences is an exclusive 5-star residential community emphasizing sustainability, wellness and luxury. Composed of 100 luxury residences, all showcasing unbeatable ocean, city and arch views, this unique residential opportunity offers homeowners a lifestyle the sustainable way, in balance with nature and grounded with living well. • 3-bedroom, 3.5-bathrooms • Spectacular first-class amenities • Base prices starting from $600,000 U.S. • By developers Fura Grupo Inmobiliario • Langarica Architects • Location: El Tezal, Cabo San Lucas View listings at Oceana Wellness Residences. oceana@snellrealestate.com

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THE SHORES – COMING SOON The Shores is an incredible opportunity with “see through the arch” views in a one-of-a-kind location, matched with sleek, contemporary design and architecture. These luxury units will be large and spacious, with open floor plans for the perfect balance of indoor-outdoor living while on one of the most unique view points in the Baja Peninsula. • 5 Residences • 3 bedrooms, 3-bathrooms • Price range from $2,500,000 USD to $2,999,999 USD • Location: Misiones del Cabo Contact us for further information on The Shores. theshores@snellrealestate.com

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KEY DEMOGRAPHICS BUYER GROUPS DRIVING THE MARKET: Singles, couples, families with children, confident investors, international clientele, entrepreneurs, ultra-high net worth individuals and those looking to #VacationInvestRetire. Ranging from first time buyers to seasoned owners with multiple homes (home collectors). Geographic regions: 70% USA, 20% Canada, 10% split between Mexico, Europe, Russia, Asia and Australia.

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Villa Dulce, Pedregal


MOTIVATIONS OF LUXURY HOMEOWNERS: Health, travel, unique experiences, family, remote work, major life milestones, active lifestyle, retirement/semi-retirement, accessible destination, warmer weather, overall quality of life.

REQUEST MARKET INFORMATION 29


NOTABLE BUYING TRENDS

• MORE SPACE - The core idea of homes that are built upon open, interactive spaces with generous square footage and welcoming outdoor areas has further grown in appeal as buyers look to spread out. • MAXIMUM PRIVACY - More popular than ever are off the grid homes that provide the opportunity to relax and enjoy recreational pursuits away from the routines and fast pace of daily life. Private and low-density retreats are a significant attraction for luxury buyers. • HOME OFFICES - The importance of being able to work remotely in a comfortable and functional home office is more pivotal than ever before. A quiet room to retreat or a place where family and friends gather to virtually connect with loved ones, the need for space to work from home is an attractive feature in today´s market. • PRIVATE POOLS - Making for the perfect place to relax, reflect, or entertain with family and friends, a private pool is one of the hottest amenities on the market today and an essential part of the luxury Baja lifestyle.

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Casa Blanca

• HEALTH & WELLNESS EXPERIENCES - In high demand are homes that include the likes of private fitness rooms, spas and backyard putting greens, in addition to properties that incorporate healthorientated designs such as holistic ventilation and lighting systems, along with sanitation building materials. More than ever before, the priority for a healthy lifestyle is trending upwards with a desire for specialized experiences that no one else is getting. • SMART FEATURES - High-tech elements in a home add a level of comfort, security and entertainment. Designed to revolutionize everyday tasks and reduce energy costs at the same, homes that incorporate cutting-edge technology individually tailored to homeowners are on the rise. • FINE DINING FROM HOME – A cook’s kitchen is the luxury amenity of the moment. With a renewed desire for kitchens that incorporate functional features, nifty devices and high-end cabinetry, countertops and appliances, the kitchen continues to be at the top of the list for many prospective buyers. • RENTAL INVESTMENTS - An uptick in activity for rental requests with high demand for longer stays and luxury amenities. As investors look to put their money into properties that will generate positive cashflow and a high return, Cabo´s vacation rental market is without a doubt booming and there´s no better time to invest.

We´ve got you covered. Our diverse collection of spectacular homes has something for everyone. Subscribe to our weekly mailing list and learn about the latest properties on the market, news, announcements, trends and much more.

SUBSCRIBE TO OUR WEEKLY MAILING LIST

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AWARD-WINNING

Engel & Völkers Snell Real Estate Celebrates Fifth Consecutive Award Win For Best Real Estate Brokerage in Mexico In 2021, Engel & Völkers Snell Real Estate was recognized as one of the 30 Most Valuable Brands of the Year by The Silicon Review. Now, 2022 welcomes an impressive FIFTH consecutive award win for Best Real Estate Brokerage in Mexico by the International Property Awards. Thrilled to once again be distinguished as among the best property professionals from across the globe, this award is a powerful reflection of our 25-year history of providing an incomparable service experience in every aspect of the business.

Vanessa Fukunaga announced as 30 Best CEOs of the Year 2022 by The Silicon Review Setting the stage for 2022, Owner, President | CEO of Engel & Völkers Snell Real Estate, Vanessa Fukunaga, has been announced as one of the 30 Best CEOs of the Year 2022 by The Silicon Review. Recognized as a top CEO from a line-up of noteworthy and high-level business leaders, decision makers and professionals, this award is well deserved for the unstoppable woman behind the #1 real estate brokerage in the Baja. Skilled, globally connected and tuned in to the marketplace, it´s her perseverance and vision that leads the charge as she passionately works to push her companies forward into the future. Achieving overall excellence takes an expert team who are passionate about their every move. We are proud to be leading the way with competence, market expertise and notable service, and these highlevel international accolades further recognize our value in the luxury real estate sector and the relevance of continuing to do business at the highest level.

TAKE A CLOSER LOOK 33


FEATURED SALES 2020-2021 LD

LD

SO

SO

Casa Fryzer | $14.9M

Casa Brinkman | $11.4M

SO

LD

LD

SO Casa Oliver | $9.8M

VDM Hacienda 503 | $10M

SO

LD

LD

SO Casa Playa | $8.9M

Paradiso Perduto | $8.9M

SO

LD

LD

SO

VDM Villa 462 | $8.1M

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Casa de Tranquilidad | $7.5M


CONTACT LOS CABOS´ #1 LUXURY BROKERAGE

LD

LD

SO

SO

Villa Bellissima | $6M

Las Ventanas al Paraiso 5502 | $5.9M

LD

SO

LD

SO

Villa 131 | $4.9M

Cerrito 2 | $4.8M

LD

SO

LD

SO

La Laguna Casa Ocho | $4.7M

Las Ventanas al Paraiso 7501 | $4.7M

LD

SO

LD

SO

Villa Magica | $3.9M

Casa Stuart | $3.80M Values shown reflect the listing price of each property. 35


FEATURED LISTINGS Below, please find a collection of some of our signature listings available for purchase. For a complete list of exclusive real estate opportunities, visit us online at snellrealestate.com

Casa Hidalgo | $37.9M

Villa Love & Peace | $23.85M

Casa Anna | $12.9M

Casa Blanca | $8.995M

Punta el Encuentro | $22.4M

Casa Mes Amours | $7.9M

The Residences at Las Ventanas al Paraíso, Pool Residence 7102 | $2.9M

Paraiso Residences 1301 | $1.86M

The Break at El Arenal 1D | $1.17M

Values shown reflect the listing price of each property.

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West Enclave 25 | $7.5M

Casa del Caballo de Mar | $6.9M

Espíritu Casita 92 | $6.25M

Villa Dulce | $5.95M

Ensenada del Palmas| $5.9M

Casa Ki | $4.975M

Casa Kokomo | $4.598M

Casa Cortez Kitesurf Villa | $3.6M

Villa Cascada | $3.4M

TOUR AND LEARN MORE

snellrealestate.com | loscabos.evrealestate.com In Los Cabos (624) 105-8100 | Toll Free 1-866-650-5845 | info@snellrealestate.com 37


After 25 years and nearly $3B in sales since inception, Engel & Völkers Snell Real Estate continues to innovatively bring Los Cabos to the world and revolutionize the way luxury real estate is sold. As a globally recognized organization with the resources, connections and influence, the brokerage is committed to offering the best home buying and selling experience. ...

snellrealestate.com loscabos.evrealestate.com In Los Cabos (624) 105-8100 | Toll Free 1-866-650-5845 info@snellrealestate.com


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