More Development Coming To Cabo

Take note, potential buyers, and there’s room for speculators, too. Cash is king
BY: BILL DING

News flash: There’s development happening in Cabo Ok  if you’ve driven down the corridor you probably already knew that. It’s kind of hard to miss all the cranes and construction crews, as well as the damn cones in the road. Some people call those  

So what exactly does all this development include? Well, there’s the Chileno Bay Resorts & Residences, a 2,200-acre development that’s part of the Auberge Resorts Collection. It will include 29 boutique hotel rooms and 33 villas and is scheduled to open in January. Scheduled to open in 2018 is a hotel from Montage that will include 52 residences. 

The demolished Twin Dolphins hotel, which was once one of the top hotels in Cabo, is being replaced with a new 1,400 project of the same name. Construction is almost completed on the pools and public areas of Maravilla Los Cabos, the project’s main residential section. Maravilla includes 230 villas and homes that range in price from $3 million to $10 million. 

The Rancho San Lucas is an 843-acre development that will include a Greg Norman-designed golf course and a lake with hiking and biking trails. The Four Seasons, Ritz-Carlton and Nobu chains are also hard at working building their versions of luxury hotels and residences.  

And while Hurrican Odile did some major damage to resorts and hotels, most took the rebuilding required as an opportunity to give outdated, fading properties some much-needed facelifts. So if your favorite resort now seems a bit spiffier and has more amenities, you can think Mother Nature for that. 

With all these developments going up, it’s hard to remember there was a time when the airport didn’t even have air conditioning! Los Cabos is far too fancy for that now. 

Homes in many of these new projects start at $2 million, and prices for homes in some of Cabo’s most expensive gated communities have almost doubled since 2012. And in 2015, 11 oceanfront properties sold in luxury developments for an average price of $12.6 million. That’s more than $4 million more than the average in 2014. 

Developers and real estate agents are also noting that today’s Cabo buyers are different than buyers 30 years ago, who were more interested in where they could get the best margarita and how many they could drink in one sitting. Now, people want physical activity (think scuba, paddle boarding and kayaking) to be a part of their Cabo lifestyle. 

They’re also more family-oriented and have little interest in decorating their new homes themselves – they want turnkey places that are ready to go.  

For those of you old timers who miss the times when Cabo was still a small fishing town with only a few hotels, well, those days are gone. But come on, fancy resorts with world-class spas and restaurants aren’t so bad, are they?