What is the real estate climate like in Baja, Mexico?

As of 2014 the real estate market in Los Cabos on Mexico's Baja peninsula is on the rebound, reports The New York Times. The commercial market in Mexico is also growing, according to Nearshore Americas.

The real estate market in southern Baja slumped in 2008 and 2009 due to the effects of the U.S. housing crash. It was on the path to recovery when Hurricane Odile stalled its progress, explains The New York Times. The market stabilized at 2012 and 2013 prices with inventory levels dropping. At the same time, changes in the investment and regulatory environments in Mexico drove growth in the commercial market, explains Nearshore Americas.