Now that’s it’s 2022, Nick Fong, the founder and broker of Ronival Real Estate is ready to share his inside knowledge about market trends for Baja California Sur real estate in 2022. As he says in the video, Nick is asked this question quite frequently. As such, he’s now ready to share his answer. If you’re also tracking how market momentum is showing up in the luxury segment, explore LuxuryLosCabos.com.
2021 was a great year for both the real estate market and COVID-19 recovery. As such, Nick says that continued growth is expected, since there is no slow-down in sight. The only concern is inflation, which is manageable. Therefore, continue reading to learn the insight from the top real estate broker in all of Mexico – Nick Fong of Ronival Real Estate.
What will the real estate market look like in 2022?
The short answer is this: The Baja California Sur real estate market is not going to let up in 2022. According to Nick, the strength of the market as reported for 2021 will not stop. That means, regarding the market in each city in Baja Sur, like Cabo San Lucas, Todos Santos, Loreto, and La Paz, to name a few, the real estate market is very robust and will continue to strengthen in the foreseeable future.
There’s a primary reason for continued market strength according to Nick. Baja California Sur is a destination where people want to live. Also, this is where people want to invest. That’s due to the great popularity as a tourist destination.
What makes Baja California Sur so popular?
The answer is simple: The weather and the way of life is hard to beat. The cities within Baja California Sur provide an affordable and luxurious lifestyle. And, you don’t even need to speak Spanish! The English-speaking population makes life easy to manage no matter where you go.
So if you’re buying real estate, make sure you buy sooner than later as prices are always on the rise. Also, you may buy with pre-construction lock-in prices throughout the area. In that case, by the time that property is delivered to you, most likely it’s going to be 20 or 30% more. What a great investment! If you want to compare a proven Los Cabos market segment, start with about Cabo Real, then browse current Cabo Real homes for sale and Cabo Real condos for sale.
Homes that went under contract or sold on 2021
During 2021, 3840 units went under contract, many of which have already closed. To be specific, 2612 units have closed already. That represents $1.5B USD of real estate. For those sales still under contract, it represents $800M USD of real estate sales waiting to be closed.
Comparing 2021 and 2020 real estate market reports
Being quite a difficult year due to COVID-19, the second half of 2020 had a nice rebound. To begin, there were 1168 units that closed, which represents $415M USD. To elaborate, 2021 had over a 500 percent increase in real estate sales volume. Also, that makes over 400 percent increase in the number of units sold.
Work With Ronival Real Estate
Ronival Real Estate has helped thousands of buyers and sellers across Los Cabos since 2010. If you’re interested in Cabo Real Estate, our team can assist with everything from showings and negotiations to closing and property management. Have questions? Contact us here or call +52 (624) 227 5766.