Los Cabos draws high-end residents
http://www.iht.com/articles/542478.htm
R.Scott Macintosh
October 7, 2004
The region of Los Cabos has come a long way in the three decades since Manuel D?az Rivera first saw it.
Warm weather, a relaxed pace of life and recreation options that include a championship golf course and big-game fishing have turned the area into one
of Mexico's most popular playgrounds. And the corridor of 20 kilometers, or 12 miles, between the region's two principal towns, Cabo San Lucas and San
Jos? del Cabo, has become the backbone of a rapidly growing resort area.
It is precisely the things attracting tourists that also have made Los Cabos a popular market for second homes, especially those built in expensive
gated communities.
"The trend is a continuance of the high-end client discovering Cabo," said Jon Savage, managing director of the properties that surround the elegant
Palmilla resort. "There are different levels. Not everyone is flying in on a private jet. But the high-end market has always been strong and continues
to get stronger."
The region's most ambitious new project includes a marina, hotels and condos, and two Greg Norman golf courses in an area just east of San Jos? del
Cabo. In the past year, a Costco and some Mexican-brand superstores have opened, bringing lower prices and a greater selection of goods. And two years
ago, substantial improvements were made to the region's telecommunications, roads and other infrastructure for a meeting of APEC, the Asia-Pacific
Economic Cooperation forum.
While the changes have made life easier, there are concerns that unchecked growth could deplete or contaminate the region's aquifers. As a precaution,
the regional government is building a desalinization plant and is expected to adopt a 20-year plan to slow development.
"Overdeveloping Los Cabos is one of our biggest concerns," said Jes?s Corral, the region's secretary of tourism. "By issuing policies, we can control
the growth of Los Cabos. The word should be 'control.' We can't avoid it, but we can control it."
If there is a price to be paid for paradise, most foreign residents will admit it's getting used to a different way of doing things.
Mexican laws bar foreigners from direct ownership of land within 50 kilometers of any coast, which rules out the entire Baja peninsula. However,
purchases are allowed through a fidecomiso, a third-party trust at a Mexican bank. The bank's name is on the legal title, but the owners are listed as
the trust beneficiaries and have complete control of the property. Annual fees can reach $700.
On the plus side, Mexico gives substantial discounts on property taxes that are paid in advance.
"Living in a foreign country, you have to bend a little bit," said Ed Feinstein, a longtime resident of the Pedregal development. "If you can't live
by their say-so, then this really isn't the place for you."
|
![[*]](images/xmbforum/default_icon.gif){kind=icon}
