Direct flight Madrid-Los Cabos could trigger real estate boom (FORBES)


by Lauren Beale

According to FORBES, there’s nothing like a direct flight to ease international travel. Largely the domain of major cities with populations in the multimillions, this summer the opportunity to fly nonstop will be available from Madrid, Spain, to Los Cabos, Mexico.

The tourist destination – with a population of more than 350,000, according to – has long had direct flights from North American cities, making it a popular second home and vacation rental spot.

Villa Angel is a five-bedroom home in San Jose del Cabo priced at US $2.95 million.
Among active listings is Villa Angel, a five-bedroom home in San Jose del Cabo priced at US $2.95 … [+] 2Seas Los Cabos


“The market in Los Cabos is mostly driven by U.S. and Canadian buyers,” says Ramiro Palenque Bullrich, who heads the 2Seas Los Cabos real estate team. “Americans look for a variety of properties – land, condos, residential – but their main interest is towards luxury homes.”

On the other hand, he says, Canadians are in general more interested in less expensive condos.

A single-level villa in San Jose del Cabo is listed at US $4.2 million.
A single-level villa in San Jose del Cabo with more than 3,600 square feet of living space is listed … [+] 2Seas Los Cabos

Based on previous buying patterns, he predicts that Spanish citizens will be more focused on condos and renting them out. “What we have experienced is that buyers live two or three months in these houses and then do short-term rentals for the rest of the year.”

And while rental investment is a more popular model than relocating permanently, Bullrich doesn’t rule out the possibility that some properties bought by Spaniards will be held for personal use only.

An influx of Spanish buyers could further fuel an already simmering real estate market. “At this moment we are experiencing a seller’s market,” Bullrich says. “Low inventory with hot buyers.”

Click here to read the complete original article by Lauren Beale on FORBES

The Cabo Post