mexico travel, travel in mexico, visiting mexico, retiring in mexico, magazine about mexico
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Loreto Loreto is the undoubted tourism capital of south-central Baja's east coast. Along with the FONATUR development at Napolo (and Puerto Escondido just to the south) it boasts an international airport, great sportsfishing, modern hotels and magnificent coastal scenery. Despite this, its total population is only around 15,000 including the few hundred permanent and semi-permanent North American residents. The problem was that the initial government investment in Loreto's development in the 1980's languished throughout the 1990's. Today it has an air of vitality about it - reinvigorated by both private and government investment. In Napolo, for example, a large tourist resort hotel - which was always somewhat of a white elephant - has now been demolished to make way for a new condo development. This leaves the Inn at Loreto Bay (formerly the Camino Real Loreto) as the only hotel in Napolo. The major residential community development in Napolo is in the hands of the self-same Loreto Bay company who are building an eco-sensitive, planned community around the new golf course. Prices have risen as a major publicity campaign and an effective sales effort have already attracted over 700 hundred new buyers to the community. Not to be left behind, private investment in Loreto itself is growing as North Americans recognize both the cost advantages of buying here and tranquil, established lifestyle the town offers. The Costa Loreto development is into its second phase and the old Mision Hotel on the Malecon has at last been sold and is slowly undergoing a multi-million dollar renovation/transformation into a luxury resort hotel. Another long time favourite, the perenially popular Villas de Loreto Hotel is now closed! But not for long! It too will undergo a transformation - this time as an enclave of small villas and condos. The upsurge in real estate sales has resulted in more than doubling the number of agencies in town! The old-timers in the business Alexander Realty and La Giganta Real Estate see this as a positive sign for the future. Loreto's stagnation through the 1990's actually gave it a distinct price advantage and the new development activity, while raising prices considerably, still means that Loreto offers good short-term value and long-term potential. Although the summer months can be very hot and humid on this coast, the fish are biting off Loreto and sportsfishers arrive from all over North America to take advantage of the abundance of the Sea of Cortez an area many consider to be among the world's best sportsfishing areas. With so mant positives obvious to so many new residents, Loreto's days in the doldrums are now over.
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