Baja’s Real Estate is Booming
November 2, 2017
Baja California real estate is booming with industrial, commercial, and residential construction projects, and according to real estate experts this new real estate landscape opens the door to numerous business and investment opportunities in the Cali-Baja region.
That was the conclusion of the quarterly Cross-Border Business Forum organized by the San Diego Regional Chamber of Commerce at the Club de Empresarios in Tijuana, on Wednesday, Nov. 1.
The session covered real estate and investment opportunities with featured speakers including Gary Swedback, CEO of NAI Mexico; Theresa Andrews, Director of International and Commercial Relations of the Greater San Diego Association of Realtors; Daniel Rivera, General Director of the Metropolitan Institute for Urban Planning of Tijuana (IMPLAN); and more.
The new real estate trends seen in Baja California like vertical housing, were one of the subjects discussed at the 90-minute meeting held in English with over 50 people in attendance. The vertical housing trend started about two years ago, and right now, there are approximately 15 projects like this in construction all over Tijuana.
Other trends discussed included projects of mixed-use spaces. An example is the New City complex, near the San Ysidro Port of Entry, which includes office spaces, a residential component, and lifestyle amenities like a pool.
“There are opportunities for people from San Diego to buy places in Baja California that can be their second homes or even to buy investments for condos as they finish and come into the market,” said Swedback to La Prensa San Diego. “In terms of business opportunities, social activities, and government advances, this is the best time I’ve seen Tijuana in 25 years.”
The crime rates and the perception of Baja California were also talked about at the meeting.
“The danger is the same in Tijuana as it is in San Diego. Tijuana is not dangerous if you don’t go to unsafe places,” said Andrews to answer the attendees’ questions about public safety in Tijuana. “We are trying to change the perception of Tijuana. We want to start a new conversation.”
The Greater San Diego Association of Realtors offers bus rides from San Diego to Tijuana to their customers so they can know about the Mexican culture.
“We tell our members to come on the bus tours to get to know the product (real estate) and we also tell them to go back to Baja California for a weekend to enjoy going out for dinner to familiarize and be more comfortable with the area,” Andrews added. “When you are more comfortable with the area, and start building relationships with the neighbors of the areas you are interested, then it becomes easier to invest because you are more comfortable. And my goal is to get them that first step to visit Baja California and then encourage them to revisit.”