The long hoped-for (ahem) real estate bubble in northern Baja is finally underway:
Luis Maizel and his partner, Igal Gordon, have nearly sold
out the first Calafia tower, where a two-bedroom unit costs $265,000,
more than double the price of two years ago. Three-quarters of the 48
condominiums in the 16-story second tower are sold. And the developers
are about to begin construction on a third tower, one of several dozen
oceanfront developments that are being planned along the 68 miles of
rugged coastline between Tijuana and Ensenada.