Ensenada is the largest municipality in the entire Baja California Peninsula. It is referred to as the “Cinderella of the Pacific” because of its unparallel beauty and magnificence. Ensenada is located about 120 kilometers south of the United States via a four lane toll road MX-1D and two lane free roads. It is also strategically nestled in the Bahia de Todos Santos, thus making it a vital industrial, commercial and fishing port.
Its breathtaking landscape, pristine waters, abundant and lush vineyards, easy accessibility either by sea or land, whale watching excursions, and cantinas make Ensenada one of favorite tourists destination in Baja. Nevertheless, Ensenada still has a lot to offer its visitors. Its distinctive elegance and warm appeal is simply beyond compare.
Ensenada’ economy is also continuously improving. Many infrastructure and developmental projects are set up by the local government to attract more investors. The newly elected Mayor Cesar Mancillas had taken steps to satisfy the growing demand in acquiring real estate in Ensenada. He also declared that they will complete 10,000 Ensenada retirement housing units within the end of the year.
The exceedingly high cost of beach and ocean view real estate properties offered by the Rosalito realtors contributed to the rise in demand of Ensenada real estate. It follows the economic principle on substitute goods. Since the Rosalito real estate properties (with ocean views) are thirty to fifty percent more expensive than the properties offered by the Ensenada realtors, real estate buyers thought that it is more efficient to purchase real estate in Ensenada than the former. Consequently too, certain real estate franchises in Rosalito like Coldwell Banker, Realty Executives, Remax and Prudential Real Estate to consider opening offices in Ensenada.
The easing of financing real estate for locals and foreigners also contributed to the booming of Ensenada real estate market. The application for credits has loosened considerably in Mexican banks. This can be accounted to the increasing number of local financial institutions being bought by foreigners.
Several United States insurance companies such as the First American, Stewart and Fidelity are now providing cheap Mexican title insurance on Mexican properties. This further motivated foreign financing in the real estate in Baja by using Mexican property as collateral. The changes made in Mexico’s foreign investment law, that is, allowing coastal property fideicomiso (bank trust) to foreign nationals also contributed to the new interest in Ensenada real estate.