Cabo real estate is closely tied into the areas tourism; if you are a looking for Cabo beachfront for sale, or a Cabo home for sale on one of the area’s beautiful golf courses, chances are you’ve been come down as a visitor and you fell in love! For this reason, it’s important for those considering buying to know how the area’s tourism is doing. So far, 2012 is looking promising!
The following are some stats from the Secretary of Tourism for the first 6 months of 2012:
The hotel occupancy rate has increased by 3.89% over last year to 67.33%; Americans are beginning to travel more and good results are becoming apparent.
The average price per night decreased to$187 USD, down from $192 USD for the first half of last year. Lower prices will do a good deal to attract more tourists. (Real estate buyers will be glad to know that home and condo prices are likewise at a low, but showing signs of beginning an upswing, making for an ideal time to move into this market!)
The total number of tourists staying at hotels decreased ever so slightly – about 0.7% to 631,723, but this was compensated for by longer stays – just over 5 nights on average from 4.5 nights a year ago.
There was a major boost in the number of flight arrivals of over 20% to 7,877; this is a good sign for soon-to-be expats showing that transportation, already a strong point, is getting better. The number of passengers arriving by air also went up, although slightly less; the increase was just over 7%, reaching 764,515 visitors.
Since more visitors are arriving than are staying at a hotel, this probably means there are increased rentals; it also points to the appeal of owning a condo strictly for vacationing purposes in Cabo.
Cruise arrivals went down significantly, by over 25%, with just over 150 cruise ships arriving (down from just over 200.) The number of passengers decreased by about 19% to just under 400,000; this decrease seems to be compensated, however, by the increase in air arrivals mentioned above.
Indications suggest that tourism is on the upswing; this points to an upswing in the real estate market. Now is an ideal time to invest into Cabo real estate!
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