In Los Cabos, the arrival of 17,456 new hotel keys is expected, which presents challenges in infrastructure that must be addressed to promote development in the area. Despite the decrease in the pandemic, the real estate and tourism market in Los Cabos continues to advance significantly, marking a new chapter for Baja California Sur.
According to a JLL report in 2024, hotel rates in Los Cabos have increased by 21%, reaching an average of 456 dollars per night. The construction of new rooms and the growth of residential land contribute to these advances. Los Cabos positions itself as one of the main engines of employment and economic growth along with Riviera Maya.
It is expected that this year Los Cabos will offer 7.5% more hotel keys, with 51% of them in the luxury segment. The construction of new hotel offerings in this segment drives prices in other sectors of the real estate market. Los Cabos and Riviera Maya stand out as attractive global destinations for the development of branded residences, according to a report by Savills Global Residential Development Consultancy.
The growth in the residential market, including condominiums, houses, and land, in Los Cabos and the Pacific Zone is evident with increases in values and a rise in demand. Projects like St. Regis Residences and Aman forecast ongoing growth in the area. It is estimated that by the year 2030, 2,731 hotel rooms will be added across all segments, accompanying residential growth in the region.
In the third quarter of 2024, 126 units were sold out of 889 available in 79 vertical residential projects, with an average value of 11.6 million pesos. Projects such as Cabo del Este and Costa Palmas, in addition to those projected in Loreto and Mulegé, offer large-scale development opportunities and growth potential for buyers interested in the region.
