Los Cabo’s Luxury Real Estate Market Is Reaching New Heights
Los Cabo’s Luxury Real Estate Market Is Reaching New Heights
The real estate market in Cabo San Lucas is booming like never before, and there’s no sign of a slowdown anytime soon.
Located on Mexico’s west coast in the state of Baja California Sur, Cabo, as it’s known, has had a glut of real estate development for the last several decades. The destination is a mainstay vacation home spot for buyers from California and Texas, and while sales have generally been strong over the years, they’ve exploded since the onset of the pandemic.
Saddia Rahaman, a real estate adviser with Engel & Volkers, who resides in Los Cabos, said that the company has seen $213.7 million in accepted offers so far in 2021, the second-best year in its history. In March of this year alone, Engel & Volkers had 1.22 sales per day, with the average price being $1.41 million.
“The market keeps getting stronger and stronger, and bidding wars are common,” says Rahaman. “Although there are many luxury real estate communities in Cabo, there isn’t as much inventory as you would think because we have had so much demand.”
Sales in specific communities also point to the growth: Villas Del Mar, the most upscale part of the master planned development of Palmilla, is on track to exceed $200 million in sales in 2021, more than a 100% increase from last year, according to director of sales Michael Baldwin.
Our roundup of seven high-end residential communities in Cabo includes one with unlimited Casamigos and a killer sports park, and others with an array of attractive amenities from beach clubs to spas that will have you wanting to buy a home and move in forever.
Courtesy of Francisco Estrada1/7El Dorado Golf & Beach ClubStarting Price of Residences: $2.1 millionPart of Discovery Land Company, founded by Mike Meldman, who is also a Casamigos cofounder, El Dorado sets the standard of high-end real estate in Cabo. Spanning over 520 acres, the development is on the Sea of Cortez and has 203 homes, all with traditional Spanish architecture. Jack Nicklaus designed the golf course, which features rolling terrain, ocean views, and Discovery’s famous comfort stations, akin to fast-casual outlets that serve everything from top-shelf spirits (Casamigos, of course) to freshly baked cookies. The spa, impressive kids’ club, 12-acre park with tennis and pickleball courts, shuffleboard, and a soccer field are other appealing amenities.
Courtesy of Sargent Photography2/7Chileno Bay Golf & Beach ClubStarting Price of Residences: $4 millionAlso part of Discovery Land Company, the 1,200-acre Chileno Bay features an unbeatable setting on the Sea of Cortez framed with the backdrop of the Sierra de la Laguna mountains. In fact, each one of the 426 homes gets these dual views. The development is set on two miles of coastline and has a Tom Fazio–designed 18-hole course and has a large clubhouse with a spa, multiple pools, and a fine dining restaurant. There’s also a park with recreational fields, a kids’ club, and tennis and pickleball courts.ADVERTISEMENT
Courtesy of Villas Del Mar4/7Villas Del MarStarting Price of Residences: $2 millionPart of the master planned community of Palmilla, Villas Del Mar is the most upscale development and features 28 acres of parks, gardens, and open spaces; more than three miles of walking trails; an infinity pool; a beach club; and a 10,000- square-foot gym with ocean and mountain views, spinning and pilates studios, and an outdoor yoga pavilion. The amenities go on: Homeowners can also enjoy the 27-hole Jack Nicklaus–designed course, two miles of white sand beach, and excursions such as surfing and swimming with whale sharks. Villas Del Mar will have 300 homes when it’s complete (240 are currently finished)—they include a mix of condominiums, townhouses, and single-family residences.
Lear Miller5/7Cove ClubStarting Price of Residences: $4.3 millionLocated within the community of Cabo Del Sol, the 500-acre Cove Club is currently being built and calls for 385 residences. They include beach villas, oceanview homes, and 61 Four Seasons–branded properties. Members have access to two miles of coastline and can take advantage of a Jack Nicklaus Signature Course, a beach club, a swimming pool with private cabanas, a secluded swimmable beach, and a beachfront gym. There’s also an on-site ocean experiences team to arrange water-based activities such as scuba diving, fishing, and sailing. The mountain adventure park is another perk and includes a climbing wall and archery. Dining options vary from a taco stand to a farm-to-table restaurant.
Courtesy of Four Seasons6/7Costa PalmasStarting Price of Residences: $2.25 million.The 1,000-acre Costa Palmas is set on the secluded East Cape, located more than an hour away from Los Cabos’s crowded and touristy thoroughfare dubbed the Corridor. The community has both Four Seasons and Aman residences, the latter of which are debuting in 2022. Amenities seem almost endless here: There’s the Robert Trent Jones II–designed oceanfront golf course, a 16,000 square foot spa, more than two miles of swimmable beach, six swimming pools, a two-story fitness center, a beach club, and polo fields. Homeowners can dock their yachts in the marina and have a wide range of dining options including Estiatorio Milos, the upscale Greek seafood eatery with locations in New York and London.
Courtesy of Rancho San Lucas7/7Rancho San LucasStarting Price of Residences: $425,000One of Cabo’s newest communities, Rancho San Lucas is set over 834 acres of rolling desert foothills. The development has a variety of residential options, but the 32 hacienda-style contemporary homes are the most upscale and architecturally notable. Amenities include three swimming pools, mini waterpark, saltwater lagoon, multiple restaurants, a spa with outdoor treatment rooms and a Greg Norman Signature golf course. Homeowners have access to kayaks and paddleboards, which they can use on the lagoon, and 15 miles of mountain biking and hiking trails. The onsite programs are a highlight and span everything from mixology classes and movie nights under the stars to a weekly market with live Mexican music, clothing stands and local beers on tap.