January 29, 2016
Developers are reportedly exploring new projects across the Mexican border, as a way to diversify and meet demand for housing by those who work in San Diego but live in Mexico. High land costs and California’s challenging approval process are cited as reasons to possibly seize opportunities in Mexico.
Tijuana, in the early stages of a cultural and economic revitalization, is already seeing tech hubs, restaurants, shops and art galleries pop up in abandoned downtown storefronts. Though developers must adjust to different real estate laws in Mexico, building for-rent projects that are more affordable could prove to be a viable option.
Reasons behind Baja California’s emergence as an attractive option to live include the higher living costs of San Diego, reduced security concerns since 911, as well as improved border crossings as a result of the U.S. Customs and Border Protection’s SENTRI program.