Real Estate Market Perspective in Baja California

Real Estate Market Perspective in Baja California

Real Estate Market Perspective in Baja California

Baja’s Bloom after the Boom…

By Rudy Valdes

The past year has brought some interesting developments to Northern Baja’s real estate market. A market once dominated by the golden coast of the tourism corridor between Playas de Tijuana and Ensenada has given way to a wave of vertical urban developments in Tijuana and vineyard estates in the foothills and valleys of Tecate and Ensenada.

Neither of these were part of the real estate boom here in Baja during the early part of the last decade but today they seemingly dominate our regional market. Certainly not because the coast is any less beautiful than it has been in the past. It is just as remarkable now as it ever has been with its sherbet colored sunsets and consistently fantastic climate year round. Many including myself would argue that now is as good a time as any to invest in the coast if that is what you are looking for. There are several projects stretching from Real del Mar just south of Playas de Tijuana all the way to one of the most iconic real estate developments in the state, Bajamar Ocean Front Golf Resort north of Ensenada. The real frenzy right now however is in the urban and countryside markets. As different as these two emerging markets might appear on the surface, the vertical boom in the metropolitan districts of Tijuana and vineyard estates in the countryside has been driven interestingly enough by a similar trend.

At a glance it would be hard to imagine how vertical developments springing up all over Tijuana’s chic neighborhoods could have anything to do with vineyard estates but I would argue that both are the result of the transformation of Baja into a cosmopolitan incubator for the best food, wines and art in the country. Buyers of both condos and rural retreats are looking for more than just a simple condo or country estate when making an investment. They expect their investment to connect them with the surroundings, offering them access to the emerging hip culture of fine dining minus the white gloved waiters and fine wines minus the stuffy pompous sommelier. What both of these relatively new products offer is a connection and access to the growing cosmo class in the state. A mix of innovative Baja-Med cuisine and the best wineries in the country, infused with an artistic essence that morphs everything in the region into the funky and hip atmosphere that is uniquely Baja. This essence of fine dining and fine wines stripped down to their bare bones, leaves the formalities behind and instead focuses on the essence, ingredients, and story behind the artists that are the many chefs and winemakers of our region. Much to the delight of those who live in the region, these artist are on display at increasingly more chic restaurants in Tijuana and boutique wineries in the wine country. This synergy of incredible restaurants and boutique wineries is in part what is driving much of the real estate frenzy in Baja. Buyers want to be where the action is; Tijuana and the wine country have plenty of it.

At Rancho Tecate Resort a driving force behind our success has been the marriage between real estate and wine that we identified and developed when we began sales several years ago. We offer buyers interactive experiences that range from helping to plant and work in our vineyards to classes and workshops that allow our buyers to create their own blends by the bottle or barrel. For our most adventurous homeowners, we offer the necessary support system to help them plant private vineyards on their property and produce private label reserves thru our winery. Of course a fine wine should be accompanied by equally sensational food so our endeavor over the past couple of years has been toward converting our kitchen to a farm-to-table establishment. When possible we source our produce, meat and poultry directly from our farm on property. These are just a couple of the components that we use to engage our buyers in the community but for more information you can visit us at: 
RanchoTecate.mx 

There are currently more than fifty approved and permitted residential developments in Tijuana most of which are vertical. Most if not all of these vertical projects are high end with a list of amenities too long to list but that doesn’t necessarily mean the price tag is overwhelming. Adamant a project in the heart of Tijuana directly across from the Xolos soccer stadium in the Hipodromo district is an ambitious and architecturally innovative project that has studio units starting at less than $100,000 USD, far below the price tag of other luxury vertical developments in Tijuana. Horizonte, is another project in the Hipodromo district with views overlooking the Tijuana Country Club with prices starting in the mid $400,000’s. Sales have been so strong that as of early March 2016 only two units remain in either of the projects two towers. 

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