Baja California expects real estate investment by 2020

Baja California expects real estate investment by 2020

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ROSARITO – Investments for this year are expected to exceed US$186 million in Rosarito, Baja California, mainly in the real estate market, a sector that has registered sales increases of more than 60% compared to 2018. 

Gustavo Torres RamĂ­rez, president of the Association of Real Estate Professionals Zona Costa, explained that the biggest project that will start this year is that of the Mecano Group â€“ a Spanish association with investors from Guadalajara â€“ who will build three towers with 300 departments in three phases in the so-called Plaza San Fernando, at the center of Rosarito.

Torres RamĂ­rez mentioned that for this project alone US$85 million will be invested, which will be directed to the regional market with prices between US$85,000 and US$90,000, against US$200,000 or US$30,000 that is normally the  Rosarito’s condos’ cost.

“The inventory in the Rosarito real estate market is sold out, and buyers are acquiring properties that will be delivered within two years; this due to the high cost of housing in Baja California,” said the president of the association.

Source: El Imparcial