That’s very true. Mexico still stays strong. That’s the last piece of news we want to go into today. The objective of our mini guide today is just that: to analyze the strengths and weaknesses of a growing market. Also in terms of prices. For this reason, we advise you to pay attention to the next few lines. We will explain everything in as much detail as possible. So, if you are ready, we can get started !
Mexican real estate, as we have anticipated, continues to grow stronger. This should not be underestimated, given that, in general, the Mexican economy is suffering.
In detail, the national real estate price index rose by almost 5% until the third quarter of this year. The historical maximum, compared to the distant 2016.
What makes one think, is that this moment of great optimism emerges after a decade of deadlock. Taking an historical excursus, we note that in 2009 house prices rose by only 0.77 %, in 2010 by 0.55 %.
The luxury market is the driving force of Mexican real estate. The very strong demand for penthouses and extra luxury villas has increased dramatically in recent years. The main buyers have been the Canadians and Americans, obviously belonging to an extremely high level of investors.
It is the middle class, however, that is the mainstay of the Mexican real estate market. In 2019, the middle class invested about 14.6 million in this very segment. And the forecasts seem to be only and exclusively in favour of a more than positive trend, destined to grow. It is estimated that in 2030 we can touch quota + 3.8 million more investors.
But what is the most sought-after type of contract? What are the most important returns? Let’s assume that the costs of standard apartments in Mexico reach an average of $3,000 per square meter. The key element is the central bank, the Banxico, which has taken alternative measures to facilitate buying and selling. The key rate of 25 points has been cut to 7%.
, which has taken alternative measures to facilitate buying and selling. The key rate of 25 points has been cut to 7%.
The entire Mexican economy has been reduced to 0.3 percentage points. The newly elected president has warned potential investors. By promising the adoption of policies aimed at improving Mexican infrastructure. He will undoubtedly promote the interest of investors in the Mexican real estate, which, let us remember, is the only economic sector capable of remaining high in terms of performance. The economy, therefore, should undergo a weak but important expansion, which will remain perpetual over time. Some USDÂ 13Â billion have already been invested, for example, to make Mexico City smarter.
What can I say, is that this wave of optimism will continue unabated over time. So if you want to buy a property in this land, well, now is the time!
Read also: Property for sale Mexico
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