The real estate boom in Baja California is showing no signs of letting up. With beachfront homes in Southern California reaching historic highs, many investors are looking to Baja for its pristine beauty, limitless recreation and the lower cost of beachfront living. Recent reports estimate that more than 1 million Americans now own homes in Mexico.
Approximately 700 miles from San Diego, Loreto Bay Co. is building the largest sustainable development in North America. The ecologically responsible, pedestrian-friendly community along the Sea of Cortés is garnering a lot of attention from Southern Californians looking for weekend getaways and second homes.
Fortunately for those looking to own their own slice of paradise, Mexican real estate laws have changed drastically in the past decade. The availability of U.S. title insurance has boosted investor confidence; American buyers can receive titles to their land through a bank trust -- a prime factor in drawing the attention of many Americans.
Another draw to Baja is the convenience factor; many three-hour nonstop flights depart daily from Southern California. Loreto treats visitors to year-round sport fishing, a perfect climate and spectacular views of the Sea of Cortés and the Sierra de la Giganta mountains.
Nestled in the foothills of the Sierras, The Villages of Loreto Bay is a series of interconnected neighborhoods built in the style of Colonial Europe. The 6,000-home community is designed with rooftop terraces, cobblestone pathways and inner courtyards that encourage human interaction. Loreto Bay Co. is also building restaurants, galleries and shops in the 8,000-acre community. The pedestrian-friendly neighborhoods are laced with estuaries and canals that lead directly to the sea. The $3 billion Loreto Bay project will include a world-class Beach Club, seven spas and a David Duval-designed golf course.
"Southern Californians are attracted to the golfing, fishing and accessibility of Loreto Bay," said Loreto Bay Co. President and CEO Jim Grogan. "Of course, a home on the beach in Baja is a lot more affordable than one in Los Angeles or San Diego."
Fishing and recreation opportunities abound in the Sea of Cortés. Water enthusiasts enjoy kayaking, snorkeling and scuba diving, while the opportunity to see whales, sea lions, dolphins, sea turtles and pelicans attract nature lovers. American boaters and sailors are excited about plans for the Escalera Nautica. The Nautical Ladder is a series of marinas, hotels and tourist sites located within a day's sail of one another, including Puerto Escondido just 15 minutes south of Loreto Bay.
In addition to myriad recreation opportunities, the environmentally friendly community is enhancing the natural beauty of the region. The Villages of Loreto Bay has been carefully designed with estuaries and regenerating native mangrove forests that are boosting the area's ecosystem. Of the property's 8,000 acres, 5,000 acres will remain as a natural preserve.
Loreto Bay Co. has sold more than 700 homes and home sales continue at a strong pace, recently surpassing $320 million.
For more information about The Villages of Loreto Bay, visit www.LoretoBay.com.
Submitted by Loreto Bay Co.