Although construction has slowed in the US to the north, in Mexico, in Baja real estate, financing for luxury properties is moving ahead and buildings are flying up.



Reporting on the trend, British consumer advice website, Buy Association, said this week that American developer CDDG has received approval to finance the construction of The Residences project in Baja California.

They said Banorte, one of the top banks in Mexico, funded the deal, confident that the Baja real estate market will only continue to attract visitors and homeowners in coming years.

The Residences will be a beachfront condominium, villa and penthouse complex. Amongst the luxury features will be six spas, two swimming pools and a nine-hole putting green.



Banorte is also working with impressive Baja real estate project La Elegancia, a 19-story tower with rooftop pool and movie theater. They hope to complete construction within one year and already some 65 percent of the project's 109 units have been sold.

Other Baja real estate developments recently given the green light include Naos, a 20-story "green" tower in the Riviera Baja region; Palacio del Mar, a 10-acre beachfront property; and Entremar, the first high rise in Ensenada.

Visit our website's destinations section for more about Baja real estate.