BY GREGORY BORQUEZ
The La Paz real estate market is quite unique and becoming more and more buoyant. It has been interesting to watch it evolve throughout the pandemic and become a highly sought-after market for both real estate investors and those seeking an early retirement property. By having strong national and international demographics that do not solely depend on tourism, La Paz has continued to grow.
Property in La Paz´s center is in high demand and getting more valuable by the day. With an already-limited inventory and new-builds being sold quickly, we are seeing a focus on older homes and renovations. As the city grows, more and more delicious restaurants and trendy shops complement the historic downtown and have expanded into areas like Esterito and Pueblo Nuevo. The gentrification of these areas has given investors a new focus on where to purchase at a reasonable price and still be within walking distance to the ocean and the fish taco stand!
El Centenario has almost tripled in size in the last few years, offering ocean views complemented with desert landscapes while still being within 15 minutes from the infrastructure of the city. It is the epitome of the Baja dream. With multiple new developments built by a talented young builder, Carlos Valero who is dominating the market by providing high-quality ocean view homes at accessible prices. With his presence in the market, El Centenario has been an area of focus for investors and those seeking a lucrative early retirement property.
Other investments such as top luxury hotel brands like Chablé Sea of Cortez, Baja Club by Hotel Habita and Fairmont are bringing unique designs to La Paz. With high-end restaurants and unforgettable experiences, we have begun to see considerable equity growth in the surrounding areas.
After all the hard work investing in real estate, it’s time for a beer and ice-cold tequila, my favorite activity is taking a life-changing paddle on a paddleboard where you can see humpback whales jump high out of the water and hundreds of dolphins swimming across the bay!
Gregory Bórquez is an Investment Strategist with Diamante Realtors.