Recent Developments – LCM 51 Spring 2019

Recent Developments

All the real estate news that has Los Cabos buzzing

By Carol S. Billups

Recent Developments LCM 51

 

Mavila Offers Exceptional Perk for Golf Enthusiasts

One of the hottest investment opportunities in Los Cabos this year are the presale golf-view condominiums at Mavila, part of the master-planned Quivira community. Starting in the low $200,000s U.S., ownership of one of these condominiums qualifies the investor to join the award-winning golf course at Quivira, regardless of actual occupancy. Many avid golfers are investing in rental properties and enjoying golf club membership as an additional benefit. According to the developer, unlimited play membership is available even during the construction phase. The challenging Jack Nicklaus Signature course offers dramatic views of the Pacific, and a second Jack Nicklaus Signature course is planned. The developer offers financing on the units that is equivalent to 0 percent interest. Single-family homes are also available in presale; both condos and houses give access to the full array of Quivira amenities. Your MLS-BCS member real estate agent can arrange a tour of the Mavila site and the large Quivira project by appointment. In addition to Mavila, the developer offers a few remaining Copala ocean-view condominiums and the stunning Coronado ocean-view estate homes. Tramonti, their project on the tourist corridor features ocean-view condominiums and also qualifies for golf and beach club memberships. It is anticipated that owners in all Quivira properties will enjoy privileged access to the under-construction St. Regis Hotel, also part of the master-planned community.

Pedregal Towers Available for Presale

 

Recent Developments LCM 51
There are now presale properties in Pedregal.

Presales, in which buyers put a deposit on an as-yet-unbuilt property, have become common in Los Cabos in recent months. One of the latest offerings is Pedregal Towers, a complex currently under construction in the prestigious Cabo San Lucas community of Pedregal. These two- and three-bedroom condominiums are located just at the city entrance to Pedregal, and they are part of the Pedregal home owners association. Two blocks from downtown and the marina, the location is perfect for residences and vacation rentals. The first units are scheduled for delivery late spring 2019. All units will feature high-end finishes and parking for two vehicles. Prices start in the mid-$300,000s U.S. Presale pricing generally provides an excellent investment opportunity, but there is some uncertainty involved. In particular, delivery dates can be delayed for significant amounts of time. Penalties for failure to meet delivery dates are not customary in México. Your independent real estate agent, preferably a member of the MLS-BCS multiple-listing service, can explain presale considerations and arrange a tour of this or any other property in Los Cabos.

Vela Group Has 2 Developments in Presales

The Vela Group are also in presales for two developments in Los Cabos: the Vista Vela project near Costco on the Cabo side of the tourist corridor and the VelaMar Residences near the center of the corridor in an area known as El Tule. Vista Vela will consist of 68 condo units and 55 single-family homes. Both condominiums and homes feature three-bedrooms, three-bath units. Common amenities include a pool and gym. During construction, the developer is offering presale contracts with prices starting at about $200,000 U.S. Financing is available for Mexicans and foreigners, and the condominiums are expected to begin delivery this year. Prices and terms are subject to change as the project nears completion.
Less well known are the VelaMar Residences; they are luxury ocean-view condominiums midway between Cabo San Lucas and San José del Cabo near the Grand Velas Hotel, which is owned by the same group. The project consists of four towers and 40 individual condos; these three-bedroom, three-bath upscale units start in the low $400,000 U.S. range. The base price does not include cabinetry or appliances—the developer is offering three options for these finishes. There is a community pool planned for the complex, but ownership here also qualifies the buyer for membership in the Grand Velas Resorts, which will allow them to use the amenities of any Grand Vela resort in México.