Los Cabos: the fastest-growing destination in Mexico

Los Cabos: the fastest-growing destination in Mexico

Mar 1, 2018

2.4 million international tourists flew to Los Cabos International Airport last year, a 23 percent increase from 2016. That makes the area the fastest-growing destination in Mexico, and not all of those people were coming for the tequila shots. Almost $1 billion was invested in hotels on the tip of the peninsula in 2017, and much of that fell squarely in the luxury category. A Luxury Collection resort will open its doors by summer, followed by a Ritz-Carlton Reserve and a Nobu hotel after that. Four Seasons at Costa Palmas will begin business before the end of the year on the quiet East Cape, almost an hour’s drive from party central. At the fancy One & Only Palmilla, a 250-acre resort about 20 miles east of downtown Cabo San Lucas, where you can find Pinneo’s “surfing sensei.” The complex, which has six restaurants and a 27-hole golf course designed by Jack Nicklaus, began working with Tropicsurf in 2013 to offer its guests lessons (or road-trip “surfaris”) along the coast. These kinds of customized, private sessions are becoming more common: They are spurring growth in an industry that generated an estimated $7 billion in 2017. And what about Cerritos? A secluded beach break on the Pacific side of the Peninsula tip, 50 miles north of Cabo San Lucas, located a half-mile down a dirt road near the laid-back town of Todos Santos, where real estate advertisements tout “barefoot luxury” two-bedroom villas for $189,000. Click here to read full article on Bloomberg Source:...

Rental prices in Southern California entice Americans to move south of the border

Rental prices in Southern California entice Americans to move south of the border

Jan 11, 2018

In Southern California, rental prices have been skyrocketing in recent years, leaving many residents wondering where to live. But some have found the answer just south of the Mexican border in Tijuana. Cheap rent, hip bars, and a burgeoning artisanal food culture are enticing Americans to move. In this new Tijuana, huge condo complexes are popping up right by the border, with swimming pools and security guards and prices less than half of what you’d find in downtown San Diego. The proximity of two different cultures and currencies is already pushing some Mexicans to the edge of Tijuana. But for real estate developers, the change is welcome. There’s an emerging country and a first world country at the same space, That creates a lot of opportunities. Opportunities that include more Californians moving south of the border, especially since rents in San Diego are projected to keep rising.   Click here for full article on Marketplace.org...

14 million USD oceanfront home in Cabo makes cover of Mansion Global

14 million USD oceanfront home in Cabo makes cover of Mansion Global

Oct 22, 2017

Mansion Global is a premier digital destination connecting the world’s affluent real estate buyers with prestige properties across the globe through relevant, timely listings and compelling content. Their multilingual platform is localized to address the interests of international property seekers. Luxury listings are combined with global market analysis and relevant news to empower our users to make informed real estate decisions. An oceanfront contemporary home known as Casa Higuera is the one of the only fully turnkey custom homes currently available at the new Maravilla Los Cabos residential resort in Mexico. And priced at $14 million, it’s also one of the most expensive of the planned 230 homes. “It’s furnished, complete, turnkey, ready to go,” said Neil Johnson, director of residential real estate for Ohana Real Estate Investors, the developer. “The forks and knives are in the drawer, and water is in the pool.” Ohana is the owner-developer of Twin Dolphin, a planned residential community in Los Cabos, Mexico, that will include the 260-acre Maravilla Los Cabos as well as the new 39-acre Montage Residences Los Cabos that is expected to open early next year. The community spans both Las Viudas Beach and the renowned Santa Maria Bay, encompassing two of the few year-round, swimmable beaches in Cabo. Three years after suffering major devastation from Hurricane Odile, the luxury resort market on the southern tip of Mexico’s Baja California Peninsula has come back to life. For now, Casa Higuera is serving as a model unit of sorts for would-be homebuyers at Maravilla. “We built it to give people an idea of what the finished product would look like,” Mr. Johnson said. “It’s been extremely well received. We’ve had a few offers on it.” Click here for full article on Mansion Global...

Study says Americans’ interest in Mexican property triples in 2016

Study says Americans’ interest in Mexican property triples in 2016

Jan 9, 2017

The good quality and price of the properties that can be acquired in Mexico caused interest by American citizens to become owner of a property in the country to triple during 2016, according to data of the National Association of Realtors Of the United States (NAR for its acronym in English). According to the information, of the clients who wanted to buy a property outside the U.S., 13 percent wanted to do it in Mexico, which represents an increase of more than 3 times, compared to the 4 percent of intention  in 2015. “Buyers want to spend winter time in better weather sites, in places like the Riviera Maya. So for these people buying a beach house in a place like Florida is much more expensive, especially in the tax and maintenance part, than in Mexico,” explained Margarita Sanclemente, CEO of Sanclemente Group in the United States. According to the NAR document, 87 percent of American citizens who are looking for a property abroad want it for use as a vacation residence or as an income business. According to the executive, while in the United States the maintenance of a property represents annually 1.8 percent of the value of the property, in Mexico this cost is only 0.2 percent. He also highlighted the fact that areas of greater interest to Americans, such as the Riviera Maya or San Miguel de Allende, began to record a dollarization in the price of their properties. As a result, developers and real estate brokers increase their earnings, due to the depreciation of the peso against the greenback in recent months. Source:...

THE SETTLEMENT COMPANY® RENTAL TAX PAYMENT SERVICE

THE SETTLEMENT COMPANY® RENTAL TAX PAYMENT SERVICE

Jul 30, 2016

Under Mexican law, income generated from properties located within Mexican territory are subject to taxation, even if the owners are foreigners and even if all funds are collected in accounts located outside Mexico. For many years it has been a major issue for both Mexican tax authorities and individuals attempting to comply. For years a Federal Taxpayer ID was required to file and pay the tax. In order to obtain this tax ID one needed to be a resident of Mexico. This was lose-lose for both the authorities and the foreigners who were willing to pay but baffled by the issues involved to “get legitimate”. After more than five years of Settlement Company® dialogue with Mexican tax officials, a resolution was made in which the foreign property owner could appoint a Mexican company to pay his or her taxes and dispense with all other formalities. This has become reality! Mexican authorities are now looking seriously to collect this long-neglected source of tax revenue and foreigners not only are lining up to pay but also to receive the receipts for payment of the taxes which can then be credited against taxes paid in their native country under the terms of the NAFTA treaty. Remember! no double taxation is permitted under the terms of the treaty! If you have a rental property in Mexico contact us for details. info@settlement-co.com John K. Glaab, CIPS* * (Certified International Property Specialist) Vice President, International  Marketing International REALTOR Member of the Year (2012) Founding Member, AMPI Los Cabos Founding Director, Global Mexico Real Estate Institute Certified Negotiation Expert Tel 612 123 5056 # 0    cel 612 157 7903 URUAPAN 452 524 3802 www.settlement-co.com www.facebook.com/settlementco www.globalmexico.org ABOUT THE SETTLEMENT COMPANY® The Settlement Company combines the resources, knowledge and the years of experience of our professional international staff. These individuals have brought together a set of standards that have responded in a creative, quick and cost effective manner to the constantly evolving and highly complex real estate related requests of our clients. To date, these skills have assisted real estate agents, law firms, investors, financial institutions and the public at large, in all of the Republic of Mexico and the United...

Rancho San Lucas, luxury community featuring estate homes and condos

Rancho San Lucas, luxury community featuring estate homes and condos

Jun 7, 2016

A dramatic setting, amidst the Pacific Ocean and Baja’s emblematic desert backdrop, will be home to Rancho San Lucas– a private resort community that will take ocean-front living in Los Cabos to the next level with stellar amenities that include a Greg Norman-designed golf course, state-of-the-art tennis center, an all-suite resort, and dining and shopping options within a Mexican-inspired pedestrian village. This 834-acre master-planned community, featuring 12 miles of expansive white sand beachfront complemented by dramatic succulent forest, will have the only true ocean-front home sites in the area, offering real estate investment opportunities at The Villas and The Estates– all showcasing a unique combination of Spanish and Mexican architectural elements and emphasizing the balance between luxury and the beauty of the natural surroundings. The most exclusive address is The Estates with 32 single level estate homes and 36 luxury condos. The Villas are located on the highest vantage point of the development and afford spectacular ocean, golf and desert views. “We are excited to see this wonderful land come to life as the embodiment of Baja’s legacy– a place where five decades ago the pioneering spirit of a man saw promise for greatness. We envision a one-of-a-kind development devoted to conserving the true nature of its environment and are committed to creating a unique, quality product deeply rooted in the love for the land and the Baja way of life,” said Claudia Velo, Director of Marketing for Rancho San Lucas. Rancho San Lucas broke ground in January of this year with the beginning of construction of the Grand Solmar at Rancho San Lucas and already shows signs of momentum with cleared roads, vegetation rescue for future landscaping and Greg Norman’s second visit to the site. The first phase of the development is slated to debut winter 2017 with the luxury resort, Grand Solmar at Rancho San Lucas. With equally convenient access to trendy downtown Cabo San Lucas and the delightful Mexican ‘magic town’ of Todos Santos within a 30-minute drive, Rancho San Lucas promises an unmatched ‘best of all worlds’ lifestyle. Rancho San Lucas is located on the Pacific Coast, 20-minutes from downtown Cabo San Lucas. An 834-acre master-plan that will complete phase one...