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Sunday December 17 2017
Real Estate Market in San Felipe, Baja California
Roman Velazquez

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Located 209 km. to the south of Mexicali and from the border with Calexico, San Felipe rises among magnificent views of the arid mountain ranges and dunes of fine sand that contrast against the deep blue of the majestic Sea of Cortes, offering a vacationing paradise for both national and foreign tourists.

Known as the Gateway to the Sea of Cortes, or also as the Shrimp Capital, the place offers both its residents and visitors a privileged climate and peaceful waters in a varied natural environment that makes it possible to develop and practice countless activities for every taste and budget.

This tourist destination comprises 25 km. of beach to the North of San Felipe, 70 km. of beach to the south, and of course, the city or Down Town, with its corresponding seafront together with the San Felipe Marina.
Hotels, restaurants, real estate developments, and over 45 tourist vacationing parks for camping integrate the tourist offer in the location.

This restful tourist destination is complemented by a full tourist infrastructure, including an international airport for private planes and a broad range of real estate products, catering mainly to the US baby boomer or retired market who, for over two decades, have found San Felipe to be a privileged and attractive place for retirement.

The real estate market in the location began to rise towards the end of the eighties and it hasn't been fully triggered yet, as there are large expanses of land that are for sale, or part of the land bank for future growth.

As a tourist and vacation destination for national and foreign visitors, San Felipe features real estate options that meet the needs of shelter, amusement, food, and transportation, both for tourists and residents, and the local population. In terms of tourist residential housing, developers offer a large range of concepts, sizes, and prices, based on the market they wish to tackle: plots in a development, houses, villas, town houses, apartments or condos, time shares, or fractional properties, or any combination of these products in an integrated project.

The real estate offer is found in three areas: the north or North Beach, the south or South Beach, and the Marina, a couple of km. away from the urban or downtown area. They all have properties from the road to the coastline, or from the road to the mountain, which determines a significant variation in prices. In all these areas, it is possible to find active projects with new product for sale, projects with units for resale, and also interrupted or suspended projects that may be reactivated as the market recovers.

The housing offer is divided into two price ranges: the first one goes from $1,400,000 to $2,500,000 pesos. This type of housing is acquired mainly by the regional national market, mostly from Mexicali and Tijuana. The second range goes from $2,900,000 to $18,700,000 pesos. This product is mainly acquired by the foreign market, catering mostly to the California and Arizona markets, and very minimally, to the market from European countries. These buyers mainly seek for resting places with a beach, to occupy them preferably in the winter season. This type of developments offers amenities such as: Pool, beach front, beach access, ocean view, tennis courts, palm shelters, and multiple use hall, among others.

The location currently has 5 projects offering finished new housing, housing in progress, and presales, with houses, villas, and apartments. These projects are located in the high residential segments with prices ranging from $2,400,000 pesos to $8,000,000 pesos, and with over 200 units on inventory. They focus mainly on the baby boomer market, but do not exclude the possibility that the national market may purchase them.

There are 9 active projects of plots in a development, totaling 13,413 units with 5,963 plots on inventory. The prices range from $270,000 to $2,100,000 pesos per unit, and the surface areas offered on these plots range from 300m2 to 929m2. Most of the projects offer amenities and beach access. Their size and proximity to the sea determine the price they can achieve.

Overall, San Felipe is still in the process of being consolidated, as its tourist and real estate potential hasn’t been fully triggered. The rehabilitation of the Mexicali-San Felipe road, as well as the extension of this road southwards to connect to Transpeninsular highway 5, is expected to reactivate the flow of tourists, and considerably improve the performance of the tourist housing market in San Felipe.


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