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Yes, the analysis of Cabo San Lucas' property market is included in our pack
Condo prices in Cabo San Lucas range from $167,000 for entry-level units to over $1.2 million for luxury beachfront properties as of September 2025.
The current average price per square foot sits at $106, though beachfront and ocean-view condos command premiums of 30-50% above comparable inland units. With the Cabo San Lucas condo market showing 9.9% appreciation in 2024 alone and strong rental yields of 6-8%, understanding the exact costs becomes crucial for both investors and future residents.
If you want to go deeper, you can check our pack of documents related to the real estate market in Mexico, based on reliable facts and data, not opinions or rumors.
Cabo San Lucas condos cost between $167,000-$1.2M+ depending on size, location, and amenities, with ocean-view units commanding 30-50% premiums.
Annual ownership costs include HOA fees ($200-$2,000/month), property taxes (0.1-0.2% of value), and maintenance (1-2% of property value yearly).
| Property Type | Price Range (USD) | Key Features |
|---|---|---|
| 1-Bedroom Condo | $167,000 - $350,000 | Entry-level, inland locations |
| 2-Bedroom Condo | $250,000 - $800,000 | Mid-range, near beach/marina |
| 3-Bedroom Condo | $400,000 - $1,200,000+ | Luxury, beachfront/marina view |
| Ocean-View Premium | +30-50% above inland | Beachfront/ocean views |
| Pre-Construction | 15-30% below market | Early buyer discounts |
| Annual Costs | $8,000 - $15,000 | HOA, taxes, maintenance |
What's the average price per square foot for a condo in Cabo San Lucas right now?
The average price per square foot for condos in Cabo San Lucas is $106 as of September 2025.
This figure represents the market average across all condo types and locations in Cabo San Lucas. However, construction prices for new builds start significantly higher at around $200 per square foot, particularly for premium finishings in beach-adjacent locations.
The $106 per square foot average includes older inland units, mid-range properties near the marina, and some luxury developments. Beachfront and oceanfront condos typically command much higher per-square-foot prices, often exceeding $150-200 per square foot due to their premium locations and amenities.
Entry-level condos in less desirable inland locations may sell for as low as $80-90 per square foot, while ultra-luxury penthouse units in prime beachfront developments can reach $300+ per square foot.
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What's the typical total purchase price range for a one-bedroom condo in Cabo San Lucas?
One-bedroom condos in Cabo San Lucas typically cost between $167,000 and $350,000 as of September 2025.
Entry-level one-bedroom units priced around $167,000-$250,000 are usually located inland, away from the beach, and may be in older buildings with basic amenities. These properties often target long-term residents or budget-conscious investors seeking affordable entry into the Cabo San Lucas market.
Mid-range one-bedroom condos priced between $250,000-$350,000 typically offer better locations closer to the marina or downtown area, modern finishes, and access to community amenities like pools and fitness centers. Units in this range often feature contemporary designs and may include partial ocean or marina views.
Premium one-bedroom condos with ocean views, beachfront locations, or luxury amenities can exceed $350,000, sometimes reaching $500,000+ for prime locations in exclusive developments. These properties often include concierge services, private beach access, and high-end finishes throughout.
The size of one-bedroom condos in Cabo San Lucas typically ranges from 600-1,000 square feet, with larger units commanding higher prices per square foot due to their spacious layouts and premium features.
What's the typical total purchase price range for a two-bedroom condo in Cabo San Lucas?
Two-bedroom condos in Cabo San Lucas range from $250,000 to $800,000, with the median sales cluster falling between $400,000-$800,000.
Entry-level two-bedroom units priced around $250,000-$400,000 are typically located inland or in older developments without direct beach access. These properties offer good value for families or investors seeking larger living spaces at more affordable price points.
The most popular price segment for two-bedroom condos falls between $400,000-$600,000, featuring modern amenities, convenient locations near the beach or marina, and access to community facilities. Properties in this range often include updated kitchens, quality finishes, and balconies with partial views.
Premium two-bedroom condos priced between $600,000-$800,000 typically offer superior locations with ocean or marina views, luxury amenities, and larger square footage. These units often feature private terraces, premium appliances, and access to exclusive resort-style amenities.
Ultra-luxury two-bedroom condos can exceed $800,000, particularly in exclusive beachfront developments or premium marina locations. These properties often include penthouse-level finishes, panoramic ocean views, and access to private beaches or yacht clubs.
What's the typical total purchase price range for a three-bedroom condo in Cabo San Lucas?
Three-bedroom condos in Cabo San Lucas typically cost between $400,000 and $1,200,000+, with many luxury beachfront and marina-view listings falling in the $900,000-$1.2 million range.
Entry-level three-bedroom condos priced around $400,000-$600,000 are usually located inland or in older developments, offering spacious family living at relatively affordable prices. These properties may lack premium views but provide good value for larger families or investors seeking rental properties.
Mid-range three-bedroom condos between $600,000-$900,000 typically feature better locations, modern amenities, and may include partial ocean or marina views. These properties often offer community pools, fitness centers, and convenient access to beaches and dining.
Luxury three-bedroom condos priced between $900,000-$1.2 million usually feature prime beachfront or marina locations, panoramic ocean views, and resort-style amenities. These properties often include private terraces, premium finishes, and access to exclusive facilities like private beaches, spas, and concierge services.
Ultra-luxury three-bedroom penthouses can exceed $1.2 million, sometimes reaching $2-3 million for the most exclusive properties. These units typically offer expansive living spaces, rooftop terraces, and unobstructed ocean views in the most prestigious developments.
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How much more do ocean-view or beachfront condos cost compared to similar units without a view?
Ocean-view and beachfront condos in Cabo San Lucas cost 30-50% more than comparable inland units without views.
Entry-level inland condos typically start at $250,000-$350,000, while similar-sized oceanfront units in luxury developments begin at $1,000,000. This represents a premium of approximately 200-300% for prime beachfront locations compared to basic inland properties.
For mid-range properties, the premium is more moderate but still substantial. A two-bedroom inland condo priced at $400,000 would likely cost $520,000-$600,000 with ocean views, representing a 30-50% premium for the view and location benefits.
Luxury beachfront penthouses can command premiums of $2,000,000-$3,000,000+ compared to similar inland luxury units. The highest-end oceanfront properties often include exclusive beach access, private pools, and concierge services that justify these premium prices.
The exact premium depends on the quality of the view, with panoramic ocean views commanding higher premiums than partial or distant ocean glimpses. Properties with unobstructed sunset views over the Pacific Ocean typically achieve the highest premiums in the market.
What are the average monthly HOA fees for condos in Cabo San Lucas?
Monthly HOA fees for condos in Cabo San Lucas range from $200 to $2,000 per month, depending on location, amenities, and exclusivity.
| Property Type | Monthly HOA Range | Typical Amenities Included |
|---|---|---|
| Basic Inland Condos | $150 - $400 | Basic maintenance, security, pool |
| Mid-Range Properties | $400 - $700 | Pool, fitness center, landscaping, security |
| Luxury Communities | $700 - $1,200 | Multiple pools, spa, golf access, concierge |
| Ultra-Luxury/Gated | $1,200 - $2,000+ | Private beach, yacht club, full-service amenities |
| Beachfront Resorts | $1,500 - $2,500+ | Beach service, restaurants, spa, valet |
Mainstream condo properties typically charge $150-$600 per month in HOA fees, covering basic maintenance, security, landscaping, and shared amenities like pools and fitness centers. These fees generally include water, trash collection, and common area maintenance.
Luxury and gated communities charge significantly higher fees of $1,000-$2,000+ per month, but include extensive amenities such as concierge services, multiple pools, spas, golf course access, private beach clubs, and 24/7 security with gated access.
Beachfront resort-style developments often charge the highest HOA fees, sometimes exceeding $2,000 per month, but provide comprehensive services including beach attendants, multiple restaurants, spa facilities, valet parking, and full resort amenities for residents.
What are the average annual property taxes for a condo in Cabo San Lucas?
Annual property taxes for condos in Cabo San Lucas typically range from 0.1% to 0.2% of the assessed property value.
For a $500,000 condo, annual property taxes would range from $500 to $1,000 per year. This represents significantly lower property tax rates compared to most U.S. markets, where property taxes often range from 1-3% of assessed value annually.
Property tax in Mexico is called "predial" and is assessed by local municipalities based on the official cadastral value of the property. The cadastral value is typically lower than the actual market value, which helps keep property tax obligations relatively modest for property owners.
Luxury properties may face slightly higher effective tax rates, but even premium beachfront condos worth $1-2 million typically pay annual property taxes of $2,000-$4,000, making property ownership in Cabo San Lucas quite tax-efficient compared to comparable resort destinations.
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How much should I budget for annual maintenance and repair costs for a condo there?
Property owners should budget 1-2% of their condo's value per year for maintenance and repair costs in Cabo San Lucas.
For a $500,000 condo, this translates to $5,000-$10,000 annually for maintenance and repairs. This budget should cover routine maintenance, minor repairs, appliance replacements, and periodic updates to maintain the property's condition and value.
Basic property management services, if hired, typically cost $125-$250 per month for standard maintenance oversight, inspection coordination, and vendor management. This service is particularly valuable for non-resident owners who cannot personally oversee their properties.
Luxury homes and high-end condos often require $5,000-$15,000+ annually for comprehensive maintenance packages. These properties typically feature premium finishes, complex systems, and extensive amenities that require specialized maintenance and higher-quality materials for repairs.
Climate-related maintenance costs in Cabo San Lucas include air conditioning system servicing, salt air corrosion prevention, and hurricane preparation. Properties closer to the ocean face higher maintenance costs due to salt air exposure, which can accelerate wear on metal fixtures, appliances, and exterior finishes.
What's the typical price difference between pre-construction and already-built condos in Cabo San Lucas?
Pre-construction condos in Cabo San Lucas typically cost 15-30% less than comparable completed units.
Current market data shows pre-construction units averaging around $358,000 compared to completed condos averaging $792,840, though this spread varies significantly by development, location, and unit specifications. Early buyers often secure the best unit selections and positions within developments.
Pre-construction buyers benefit from developer incentives, flexible payment plans, and the ability to customize finishes and layouts. Many developers offer attractive financing terms, including deposits as low as 10-20% with progress payments tied to construction milestones.
However, pre-construction purchases carry delivery risk, potential construction delays, and the possibility of market changes before completion. Buyers should carefully research developer track records, financial stability, and construction timelines before committing to pre-construction purchases.
The discount for pre-construction purchases tends to be highest during early sales phases and may decrease as projects approach completion. Buyers who purchase during initial launch phases often see the greatest appreciation potential as construction progresses and market demand increases.
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How much do closing costs usually add to the total price of buying a condo in Cabo San Lucas?
Closing costs for buying a condo in Cabo San Lucas typically total 5-7% of the purchase price.
The largest component is the 3% property acquisition tax charged by Los Cabos municipality, which buyers must pay at closing. This tax is calculated on the purchase price and represents a significant portion of total closing costs.
Additional closing costs include 2-3% for standard fees covering notary services, property registry, legal representation, and documentation processing. These fees ensure proper title transfer and legal compliance with Mexican property ownership regulations.
Foreign buyers must establish a fideicomiso (trust) structure for beachfront properties, adding $500-$1,000 to initial costs plus annual maintenance fees. This trust structure allows foreigners to effectively own property within the restricted zone near coastlines.
Optional but recommended costs include property appraisal, surveys, and title insurance, which may add another $1,000-$3,000 to total closing expenses. These services provide important protection and verification for significant property investments.
How much rental income can a typical condo in Cabo San Lucas generate per month during high season and low season?
Typical condos in Cabo San Lucas generate approximately $5,500 per month during high season and $3,100-$3,500 per month during low season as of September 2025.
| Season | Monthly Income Range | Occupancy Rate |
|---|---|---|
| High Season (Jan-Mar, Nov-Dec) | $5,500 (median) - $10,319 (top 10%) | 45-51% |
| Shoulder Season (Apr-May, Oct) | $4,000 - $4,500 | 35-40% |
| Low Season (June-Sept) | $3,100 - $3,500 | 32-35% |
| Annual Average | $1,784 (median) | 37% |
| Well-Managed Properties | $2,500 - $4,000 average | 45-55% |
High season months (January-March and November-December) represent peak tourism periods when rental rates reach their highest levels. Top-performing properties in prime locations with professional management can achieve $10,000+ monthly income during peak periods.
Low season months (June-September) coincide with hot, humid weather and lower tourism demand, resulting in reduced rental rates and occupancy. However, well-located and professionally managed properties can still maintain decent income streams during these months.
Average annual occupancy rates range from 32-51% depending on property management quality, marketing effectiveness, and location desirability. Properties with professional management, high-quality furnishings, and strategic pricing typically achieve higher occupancy rates and rental income.
Typical rental yields for mainstream vacation condos range from 6-8% annually, with the best-located or professionally managed units achieving higher returns. Luxury properties in prime beachfront locations may achieve even higher yields due to premium nightly rates and strong demand.
What's the average appreciation rate for condos in Cabo San Lucas over the past five years?
Condos in Cabo San Lucas have experienced an average annual appreciation rate of 5-7% over the past five years, with 9.9% price appreciation recorded from 2023 to 2024 alone.
The five-year period from 2019-2024 saw average condo prices rise from approximately $500,000-$600,000 to $792,840, representing strong consistent growth in property values. Some luxury and prime location properties exceeded 10% annual appreciation during this period.
The accelerated appreciation rate of 9.9% in 2024 reflects increased demand from international buyers, limited inventory of quality properties, and Cabo San Lucas's growing reputation as a premier resort destination. This recent acceleration outpaced the five-year average significantly.
Prime beachfront and ocean-view properties have typically outperformed the market average, with some exclusive developments seeing appreciation rates of 12-15% annually during peak demand periods. Properties in emerging neighborhoods and pre-construction developments have also shown strong appreciation potential.
It's something we develop in our Mexico property pack.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Cabo San Lucas condos offer compelling investment opportunities with purchase prices ranging from $167,000 to over $1.2 million, depending on size, location, and amenities.
With annual appreciation rates of 5-7% historically and 9.9% in 2024, combined with rental yields of 6-8% and relatively low carrying costs, the Cabo San Lucas condo market presents attractive prospects for both investors and residents.
Sources
- The LatinVestor - Average Cost Condo Cabo San Lucas
- Oceanside Los Cabos - Market Reports
- Baja Smart - San Lucas Under $200,000 USD
- Cabo Beach Realty - Real Estate Prices
- Properstar - Cabo San Lucas Flats
- Pedregal Cabo - Condos For Sale
- Baja Properties - Cabo San Lucas vs Los Cabos
- The LatinVestor - Cabo San Lucas Property
- The LatinVestor - Buying Condos Mexico
- Alen Fabjan - Luxury Home Costs Cabo