Rosarito recovers its real estate boom again

By
Real Estate Broker/Owner

By Periodico Frontera 

 

The real estate "boom" seems to return to Rosarito, after the strong fall suffered in 2009 after the economic crisis in the United States, so not only have the works of some tourist complexes that were stagnant been activated, but the units are offered in presale as in those years of boom.

 

 

There is no need to sell, warns Gustavo Torres, president of the Association of Real Estate Professionals of Rosarito (AMPI), especially in the field of vertical condominiums, so that investors are buying projects that are under construction, as in the case of La Joya Excellence that offers the fourth and fifth towers, which will be ready for three or four years.

 

He mentions that almost no one buys in presales for the experiences suffered in the past when about 70 million dollars were lost in the coastal zone and the recommendation of the association is that nobody does it, except for prestigious firms such as La Jolla Excellence or Club Marena, in the first the unit has a cost close to 250 thousand dollars and in the other exceeds 600 thousand dollars, and still people are buying.

 

La Jolla Excellence

 

Torres Ramírez explains that these two projects were not stalled due to a lack of investment, but other cases such as the The Residences complex already have an offer from the bank, but before that, legal problems must be cleared up due to the demands it has faced for non-compliance.

 

The recovery of the real estate market is 80% compared to a decade ago, while prices increased by 25%, considering that they fell in some cases, up to 50% of the cost acquired.

 

Another aspect that has changed, he says, is the construction of condominiums overlooking the sea at a cost of between 50 and 70 thousand dollars, values ​​that were not offered before, that is, a new market is being created and therefore the units are They sell immediately, there are not many projects of this kind yet.

 

He said that this mode is more austere and in those areas the land is cheaper, it is quoted around 40 dollars per square meter, while on the coast it is 200 dollars per square meter, but also there is no water or drainage, although they have a cistern and pit, to cover their needs.

 

The real estate agent adds that for the moment this condition is not a problem, but something will have to be done soon, because the subsoil will be damaged due to the lack of drainage.

 

"There are investors who want to buy large land to build this type of condominiums and houses of social interest, but the problem is the cost of land, which is very high," he says.

 

Neighborhoods were created near the scenic road in the southern part of the city that overlooks the sea, such as Puerto Nuevo Sea, Misión del Mar, among others, which raised the cost of the land, he explained, because although it was promised by part of the developer that would introduce public services, this was not fulfilled but it did raise the surplus value of the place and discouraged investors.

 

 

In Tijuana, for example, mentions that land is cheaper because the investor can find land at $ 15 per square meter, and one in the same conditions would cost Rosarito no less than $ 25 per square meter, not to mention that in the neighbor city ​​there is more road infrastructure.

 

 

New Projects

There are ten new real estate development projects that are coming to Rosarito, explains Miguel Angulo, secretary of Urban Administration of the City Council, and in addition to this, two Ley stores will be built in the city.


Desarrollos Ara bought the La Cascada subdivision and will build 462 homes, which include individual houses and two towers of seven levels each; in El Descanso there are two developments with 135 homes; Monte Mar with 50 homes; Grupo Cadena in Real de Rosarito ll, 351; La Joya Residencial 367 units, and Novipolis 47, explains the official.

 

In addition, in the Primo Tapia delegation a fractionation called El Cielo is being built, which offers 3 thousand lots; Hacienda Mazatlán is another development that began with the sale of 2 thousand 132 lots; Newfoundland 346 lots; Prairies of the Colonel 300 properties.

 

Sanchez Angulo says that these developments are added two department stores, one in the Independencia neighborhood and another in the delegation of Primo Tapia.

 

What has not grown is the development of houses of social interest explains, and this is due to the fact that because of the high cost of the land, the profit of the investors is not much, in such a way that an average of three subdivisions with these characteristics.

 

He adds that the lack of water also influences since only 40% of the colonies in Rosarito have the service, and limits the creation of new subdivisions in areas further away from the city.

 

But this year, investments in the real estate branch came...

 

 

At RE / MAX Baja Realty our agents are ready to SELL, BUY or RENT custom properties.

 

Please dont hesitate to call us

REMAX/BAJAREALTY

Gustavo Torres

(619) 270 5446

rosaritobeach@topproducer.com

www.bajainvestment.com

 

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