Authored by the expert who managed and guided the team behind the Mexico Property Pack
Yes, the analysis of Cabo San Lucas' property market is included in our pack
If you are considering buying a condo in Cabo San Lucas, you probably want to know how much it will really cost you, from purchase price to hidden fees and monthly expenses.
This guide covers everything: actual condo prices, transaction costs, the best neighborhoods for foreign buyers, and what expats really say about owning property in this popular Baja California destination.
We constantly update this blog post with the latest data and market insights to ensure you have accurate information.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Cabo San Lucas.
Insights
- Cabo San Lucas condos averaged around US$450,000 in late 2025, but entry-level units in El Tezal start near US$180,000, making affordable options available for first-time foreign buyers.
- Foreign buyers in Cabo San Lucas must use a fideicomiso (bank trust) since the area is within Mexico's restricted zone, adding US$2,500 to US$4,000 in setup costs plus annual fees of US$550 to US$1,000.
- Rental yields in Cabo San Lucas condo hotspots like El Medano and the Marina area typically range from 6% to 10% gross annually, driven by record tourism exceeding 3 million visitors in 2024.
- The first half of 2025 saw US$878 million in closed real estate sales in Los Cabos, a 24% increase over the same period in 2024, showing strong buyer confidence in the market.
- New-build condos in Cabo San Lucas carry a 10% to 25% premium over comparable resale units, though developers often offer financing incentives or upgrade packages rather than discounting sticker prices.
- Electricity bills can surprise condo owners in Cabo San Lucas, ranging from US$120 to US$600 monthly depending on air conditioning use and whether you trigger Mexico's higher DAC tariff threshold.
- The average days on market for condos in Cabo San Lucas increased to 154 days in Q3 2025, signaling a shift toward buyer-friendly negotiating conditions compared to the tight 2022 market.
- Property acquisition tax (ISAI) in Los Cabos is set at 3% of the purchase price, making it the single largest transaction cost for condo buyers ahead of notary and legal fees.
How much does a condo actually cost in Cabo San Lucas?
What is the average price per square meter for a condo in Cabo San Lucas in 2026?
As of early 2026, the average price per square meter for a condo in Cabo San Lucas is approximately US$4,300 (around MXN 77,400 or €3,700), though this figure represents a market-wide planning midpoint rather than a fixed number.
The realistic price range per square meter in Cabo San Lucas covers most condo types, running from about US$3,200 (MXN 57,600 / €2,750) for older inland properties up to US$6,200 (MXN 111,600 / €5,350) for newer resort-style condos with ocean views or marina proximity.
This wide range reflects the diversity of the Cabo San Lucas condo market, where factors like walkability to Medano Beach, building age, and amenity packages significantly influence pricing per square meter.
How much does a one-bedroom, a two-bedroom and a three-bedroom condo cost in Cabo San Lucas in 2026?
As of early 2026, a one-bedroom condo in Cabo San Lucas typically costs between US$250,000 and US$400,000 (MXN 4.5 million to MXN 7.2 million / €215,000 to €345,000), with a common "sweet spot" around US$320,000 for a well-located unit with basic amenities.
A two-bedroom condo in Cabo San Lucas generally falls in the US$380,000 to US$650,000 range (MXN 6.8 million to MXN 11.7 million / €330,000 to €560,000), with the majority of transactions clustering around US$520,000 for move-in-ready properties in desirable buildings.
Three-bedroom condos in Cabo San Lucas command higher prices, typically ranging from US$550,000 to US$850,000 (MXN 9.9 million to MXN 15.3 million / €475,000 to €730,000), with premium units in communities like Club Campestre or Pedregal often exceeding these figures.
By the way, you will find much more detailed price ranges across surfaces and neighborhoods in our Cabo San Lucas property pack.
What is the cheapest condo a foreigner can buy in Cabo San Lucas in 2026?
As of early 2026, the cheapest condo a foreigner can realistically purchase in Cabo San Lucas starts at around US$180,000 to US$250,000 (MXN 3.2 million to MXN 4.5 million / €155,000 to €215,000), though some listings dip to US$150,000 with significant trade-offs.
The cheapest condos for foreigners in Cabo San Lucas are typically found in inland areas like upper El Tezal, older downtown buildings away from the marina, or smaller units in buildings with limited amenities and dated finishes.
The main trade-offs at this price point in Cabo San Lucas include older construction requiring updates, hillside locations without ocean views, minimal common amenities, and sometimes HOA governance issues that require careful due diligence before purchase.
How much does a luxury condo cost in Cabo San Lucas in 2026?
As of early 2026, luxury condos in Cabo San Lucas typically start at US$1.2 million (MXN 21.6 million / €1.03 million) and can reach US$3 million or more for premium penthouse units with direct ocean views and resort-branded amenities.
Luxury condos in Cabo San Lucas are defined by features like private beach club access, concierge services, infinity pools, high-end finishes, smart home technology, and prime locations offering unobstructed views of the Sea of Cortez or the Pacific Ocean.
The neighborhoods known for luxury condo options in Cabo San Lucas include Pedregal (the hillside enclave with dramatic views), the Marina area (walkable to dining and nightlife), Hacienda Beach Club, Chileno Bay, and developments along the Tourist Corridor between Cabo San Lucas and San Jose del Cabo.
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What is the usual price difference between new-build and resale condos in Cabo San Lucas in 2026?
As of early 2026, new-build condos in Cabo San Lucas typically carry a 10% to 25% price premium over comparable resale units, translating to roughly US$30,000 to US$150,000 extra (MXN 540,000 to MXN 2.7 million / €26,000 to €130,000) depending on the property tier.
One factor that significantly widens this price gap in Cabo San Lucas is the inclusion of resort-style amenities in new developments, including pools, gyms, concierge services, and modern fixtures that older resale condos simply cannot match without expensive renovations.
Are condo prices rising or falling in Cabo San Lucas in 2026?
As of early 2026, condo prices in Cabo San Lucas are holding steady to slightly soft, with market reports showing modest price adjustments of 3% to 5% downward for some condo categories in Q3 2025, while well-located properties maintain their value.
The main factor driving this selective pricing in Cabo San Lucas is buyer pickiness, as data-driven purchasers are now comparing sold comps and price-per-square-meter data, bypassing overpriced listings while still competing for move-in-ready units in prime locations.
This price trend in Cabo San Lucas is not uniform across all neighborhoods, with Marina and Medano Beach condos holding value better than inland areas like upper El Tezal, where sellers have had to accept larger discounts to close deals.
You can also read our latest update about property price forecasts in Cabo San Lucas.
What has been the 5-year condo price trend in Cabo San Lucas in 2026?
As of early 2026, condo prices in Cabo San Lucas have appreciated approximately 25% to 40% over the past five years, with annual gains averaging 5% to 8% during this period driven by strong tourism recovery and remote worker migration post-2021.
The peak period for condo price growth in Cabo San Lucas during this five-year span was 2021 to early 2023, when travel restrictions eased and buyers seeking lifestyle changes flooded the market, pushing Q3 2021 sales alone to US$329 million and creating competitive buying conditions.
Please note that you will find much more detailed price analyses and forecasts in our property pack covering the real estate market in Cabo San Lucas.
We made this infographic to show you how property prices in Mexico compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What extra costs should I expect when buying a condo in Cabo San Lucas?
What are the total transaction costs when buying a condo in Cabo San Lucas in 2026?
As of early 2026, the total transaction costs when buying a condo in Cabo San Lucas typically range from 6% to 9% of the purchase price, meaning a US$400,000 condo would carry approximately US$24,000 to US$36,000 in closing costs.
The specific fee categories making up transaction costs in Cabo San Lucas include the property acquisition tax (ISAI), notary and deed formalization fees, public registry costs, fideicomiso (bank trust) setup for foreigners, due diligence expenses, and optional title insurance.
The largest single transaction cost for condo buyers in Cabo San Lucas is the ISAI (Impuesto Sobre Adquisicion de Inmuebles), which is set at approximately 3% of the purchase price according to the Los Cabos municipal Ley de Hacienda.
If you want to go into more details, we also have a blog article detailing all the property taxes and fees in Cabo San Lucas.
What hidden fees do condo buyers often overlook in Cabo San Lucas?
The most commonly overlooked fee for condo buyers in Cabo San Lucas is the HOA special assessment, which can range from US$2,000 to US$15,000 (MXN 36,000 to MXN 270,000 / €1,700 to €13,000) when buildings need major repairs like elevator replacement, facade work, or hurricane damage restoration.
Other hidden fees that frequently surprise first-time condo buyers in Cabo San Lucas include the annual fideicomiso trust fee (US$550 to US$1,000), electricity bill spikes when A/C usage triggers Mexico's higher DAC tariff, and sinking fund contributions that may be billed separately from regular HOA dues.
These hidden fees in Cabo San Lucas typically become due at different stages: HOA special assessments can be levied anytime after purchase, the fideicomiso annual fee is billed yearly by your bank trustee, and higher electricity bills appear monthly during peak cooling months from May through October.
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Which neighborhoods are best for buying a condo in Cabo San Lucas?
What are the most popular neighborhoods for foreign condo buyers in Cabo San Lucas in 2026?
As of early 2026, the three most popular neighborhoods for foreign condo buyers in Cabo San Lucas are the Marina/Downtown area, El Medano (near Playa El Medano), and Pedregal, each offering distinct lifestyle advantages that appeal to international purchasers.
These neighborhoods attract foreign buyers in Cabo San Lucas because Marina offers walkability to restaurants, boats, and nightlife, El Medano provides the strongest short-term rental appeal with direct beach access, and Pedregal delivers dramatic hillside views with a premium residential feel just minutes from downtown.
The typical price range for condos in these popular foreigner-friendly neighborhoods in Cabo San Lucas runs from US$350,000 to US$900,000 (MXN 6.3 million to MXN 16.2 million / €300,000 to €775,000), with Marina and Medano clustering in the mid-range and Pedregal skewing toward the higher end.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Cabo San Lucas.
Which areas have the cheapest condos in Cabo San Lucas in 2026?
As of early 2026, the three areas with the cheapest condos in Cabo San Lucas are upper El Tezal (inland sections), downtown inland pockets away from the marina, and outlying hillside colonias that offer functional housing without resort-style amenities.
The typical price range for condos in these cheapest areas of Cabo San Lucas falls between US$150,000 and US$280,000 (MXN 2.7 million to MXN 5 million / €130,000 to €240,000), with El Tezal offering the best balance of affordability and legitimate ownership documentation.
Which neighborhoods have the best rental demand for condos in Cabo San Lucas in 2026?
As of early 2026, the three neighborhoods with the best rental demand for condos in Cabo San Lucas are El Medano (vacation rentals), the Marina area (mixed short and medium-term), and El Tezal (long-term rentals for professionals and families).
The typical rental yield range for condos in these high-demand neighborhoods in Cabo San Lucas falls between 6% and 10% gross annually, with beachfront Medano properties at the higher end and El Tezal long-term rentals providing more stable but slightly lower returns.
The main factor driving rental demand in these Cabo San Lucas neighborhoods is the record tourism flow exceeding 3 million visitors annually, combined with a growing population of remote workers earning in dollars who prefer renting before committing to purchase.
You can also read our detailed analysis about the rental yields for condos in Cabo San Lucas.
What neighborhoods should I avoid when buying a condo in Cabo San Lucas in 2026?
As of early 2026, condo buyers in Cabo San Lucas should be cautious about properties with ejido (communal) or irregular land title history, buildings with poorly documented HOA governance, units near flood-prone arroyos, and any "too cheap to be true" listings where sellers cannot produce clean condo regime documentation.
The main reason these situations are considered risky for condo buyers in Cabo San Lucas is that title problems can make resale nearly impossible, weak HOA management leads to deferred maintenance and surprise assessments, and flood-prone locations create insurance headaches and potential property damage during hurricane season.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Mexico versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
What is the condo buying process like in Cabo San Lucas?
What are the steps to buying a condo as a foreigner in Cabo San Lucas?
The condo buying process for foreigners in Cabo San Lucas involves approximately 7 to 10 main steps, depending on whether you are purchasing resale or pre-construction and how complex your fideicomiso setup becomes.
The key steps for foreigners buying a condo in Cabo San Lucas include: finding a property and making an offer, paying a reservation deposit (typically 5% to 10%), opening escrow, conducting due diligence (title review, HOA documents, inspection), obtaining the SRE permit for your fideicomiso, completing the bank trust setup, closing at the notary, registering the deed, and handling post-closing tasks like utilities and HOA onboarding.
The step that typically takes the longest in the Cabo San Lucas condo buying process is the fideicomiso (bank trust) setup, which requires SRE permit approval and bank coordination, often extending the timeline by 2 to 4 weeks compared to purchases that use an existing trust.
The documents a foreigner must prepare before starting the condo purchase process in Cabo San Lucas include a valid passport, proof of address (utility bill or bank statement), RFC (Mexican tax ID, which can be obtained during the process), and potentially a visa or immigration status documentation if you plan to reside in Mexico.
You can also read our blog article about what foreigners can buy and own in Cabo San Lucas.
How long does it take to complete a condo purchase in Cabo San Lucas?
The typical timeframe to complete a condo purchase in Cabo San Lucas from accepted offer to ownership transfer is 45 to 90 days for resale properties, with transactions involving new fideicomiso setups trending toward the longer end of that range.
Factors that can speed up the Cabo San Lucas condo purchase process include buying a property already held in a fideicomiso you can assume, having all documents ready in advance, and working with an experienced notary; conversely, delays often stem from incomplete HOA documentation, title issues discovered during due diligence, or slow bank trust processing.
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What are the ongoing costs of owning a condo in Cabo San Lucas?
What are the typical recurring monthly condo costs in Cabo San Lucas in 2026?
As of early 2026, the total typical monthly condo cost in Cabo San Lucas, including HOA fees, sinking fund contributions, and utilities, ranges from US$400 to US$1,200 (MXN 7,200 to MXN 21,600 / €345 to €1,030) for a standard unit, with luxury properties running significantly higher.
The typical monthly common area or maintenance fee (HOA) in Cabo San Lucas ranges from US$200 to US$700 (MXN 3,600 to MXN 12,600 / €170 to €600) for standard condos, while resort-style or luxury buildings charge US$800 to US$2,000 or more for enhanced amenities and services.
Monthly sinking fund contributions for condos in Cabo San Lucas are often included within HOA dues, but when billed separately they typically add US$30 to US$100 (MXN 540 to MXN 1,800 / €26 to €86) to your monthly obligations for building reserve purposes.
The typical monthly utility cost for a standard condo in Cabo San Lucas runs US$190 to US$780 (MXN 3,400 to MXN 14,000 / €165 to €670), with electricity (US$120 to US$600) being the largest variable due to air conditioning usage, plus water/gas (US$40 to US$120) and internet (US$30 to US$60).
What are the typical annual condo ownership costs in Cabo San Lucas in 2026?
As of early 2026, the total typical annual condo ownership cost in Cabo San Lucas, including property tax and insurance, ranges from approximately US$1,500 to US$4,500 (MXN 27,000 to MXN 81,000 / €1,300 to €3,900) for a standard unit, plus the fideicomiso annual fee for foreign owners.
The typical annual property tax (predial) for condos in Cabo San Lucas ranges from a few hundred to around US$1,500 (MXN 27,000 / €1,300) depending on the assessed value, with the Los Cabos municipality offering early-payment discounts that can reduce your bill by up to 15%.
The typical annual condo insurance cost in Cabo San Lucas for a "walls-in" policy runs US$400 to US$1,200 (MXN 7,200 to MXN 21,600 / €345 to €1,030), varying based on coverage level, building location, and whether your HOA master policy provides adequate protection.
Foreign condo owners in Cabo San Lucas should also budget for the fideicomiso annual fee of US$550 to US$1,000 (MXN 9,900 to MXN 18,000 / €475 to €860), which is billed by your bank trustee and represents a mandatory ongoing cost of ownership in Mexico's restricted zone.
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Mexico. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
What do expats and locals really say about buying condos in Cabo San Lucas?
Do most expats regret or recommend buying a condo in Cabo San Lucas in 2026?
As of early 2026, the general sentiment among expats about buying a condo in Cabo San Lucas is positive, with most owners recommending the purchase when they bought in a well-managed building and chose a location matching their actual lifestyle needs rather than just vacation appeal.
The most common reason expats recommend condo ownership in Cabo San Lucas is the ability to earn rental income in dollars while enjoying a beach lifestyle, particularly because the strong tourism market and growing remote worker population create consistent demand that offsets ownership costs.
The most common reason expats regret their condo purchase in Cabo San Lucas is underestimating monthly carrying costs, especially HOA fees and electricity bills during summer months, combined with buying in buildings where HOA governance turned out to be weak, leading to deferred maintenance and surprise assessments.
What unexpected challenges do foreign condo owners face in Cabo San Lucas?
The most common unexpected challenge foreign condo owners face in Cabo San Lucas is the wide variation in HOA governance quality, where some buildings have professional management with audited financials while others operate with minimal transparency, making reserve planning and maintenance unpredictable.
Other unexpected challenges that frequently surprise foreign condo owners in Cabo San Lucas include climate-related wear and tear (salt air corrosion, hurricane season stress on buildings), the ongoing paperwork rhythm of fideicomiso administration with your bank trustee, and navigating rental rule complexity if your HOA restricts short-term vacation rentals.
Finally, please note that we have made a list of potential risks, scams and pitfalls when buying a new property in Cabo San Lucas.
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What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Cabo San Lucas, we always rely on the strongest methodology we can and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why It's Authoritative | How We Used It |
|---|---|---|
| Cabo Real Estate Services Q4 2025 Market Report | Brokerage-facing market report built from MLS transaction data with clear pricing tables. | We used it to anchor actual closed-sale condo pricing, median values, and volume trends. We also used it to calibrate realistic price bands across different Cabo San Lucas neighborhoods. |
| Banco de Mexico (Banxico) - SIE Exchange Rate Reference | Mexico's central bank providing official FX reference rates. | We used it to translate MXN to USD and EUR conversions throughout the article. We relied on late-2025 monthly figures as anchors for early 2026 budgeting. |
| Los Cabos Municipality - Ley de Hacienda | Official municipal legal text governing local taxes including property acquisition tax. | We used it to pin down the ISAI property acquisition tax rate at 3% in Los Cabos. We avoided relying on blog estimates for tax percentages. |
| SRE Mexico - Fideicomiso Permit Requirements | Official authority issuing permits for foreign ownership in Mexico's restricted zone. | We used it to describe the legal path for foreigners buying near the coast. We explained why bank trusts are required in Cabo San Lucas. |
| SHF - Housing Finance Indicator Methodology | Federal housing finance institution providing official methodology for price indices. | We used it to ground Mexico-wide price trend context. We cross-checked so Cabo San Lucas price direction is interpreted within national patterns. |
| INEGI - ENIGH 2024 Household Survey | Mexico's national statistics agency providing official household income and spending data. | We used it to anchor typical utility spending at a national baseline. We then adjusted for Cabo San Lucas climate and A/C-heavy usage patterns. |
| SECTUR DataTur - Tourism Statistics | Mexico's official tourism statistics system tracking destination demand. | We used it to support rental demand logic based on tourism strength. We validated Cabo San Lucas visitor volumes driving condo rental markets. |
| FITURCA - Los Cabos Tourism Observatory | Destination-level monitoring report summarizing occupancy and average daily rates. | We used it as a local cross-check on tourism strength. We validated high rental demand zones within Cabo San Lucas. |
| CONUEE - Electricity Tariff Information | Official government agency explaining Mexico's domestic electricity tariff structure. | We used it to explain why electricity bills can spike with DAC tariff exposure. We kept utilities section accurate without listing every rate detail. |
| CENACE/DOF - Official Tariff Publications | Official publication route for regulated electricity tariffs in Mexico. | We used it to validate that tariffs are formally published and change over time. We justified using ranges for budgeting rather than fixed numbers. |
| Stewart Title Mexico | Major established title insurer with standardized underwriting for Mexico properties. | We used it to support the optional title insurance step common for foreign buyers. We referenced it as a credible alternative to informal title checks. |
| Los Cabos Municipality - Predial Discount Announcement | Official municipality communication about property tax administration. | We used it to confirm how predial is administered locally. We informed readers about early-payment discount opportunities. |
| MexLife - Fideicomiso Cost Guide | Long-running Mexico relocation resource publishing concrete cost ranges. | We used it to triangulate typical fideicomiso setup and annual fee ranges. We turned legal requirements into usable budget line items. |
| Oceanside Real Estate Group - Market Reports | Local brokerage publishing detailed Los Cabos transaction data and trend analysis. | We used it to validate sales volume trends and price appreciation patterns. We cross-referenced neighborhood-specific performance data. |
| Baja Properties - 2026 Buyer Guide | Established local brokerage with deep Cabo San Lucas market experience since 1986. | We used it to validate step-by-step buying process details. We confirmed closing cost ranges and timeline expectations for foreign buyers. |
| VanSirius Luxury Real Estate - Market Analysis | Specialist luxury broker tracking ultra-high-end transactions in Los Cabos. | We used it to anchor luxury segment pricing and appreciation forecasts. We validated premium neighborhood performance data. |
| Susana Bueno Real Estate - 2025 Market Report | Local broker providing regional breakdown of Los Cabos property performance. | We used it to understand price variation across Cabo San Lucas sub-markets. We validated days-on-market trends and price adjustment patterns. |
| The Latinvestor - Cabo San Lucas Property Research | Research platform specializing in Mexico real estate data and buyer guidance. | We used it to compile rental yield estimates and buyer sentiment patterns. We cross-referenced our internal transaction database throughout the article. |
We have made this infographic to give you a quick and clear snapshot of the property market in Mexico. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.