Real Estate market expected to grow up to 7% in the Riviera Maya.

The Real Estate market could grow from 4% to 7% this year in The Riviera Maya, according to the Mexican Association of Real Estate Professionals (AMPI).
The national president of AMPI, Alejandro Kuri Pheres, said that the real estate market will grow this year about 4% over the previous year.

Real Estate News

At the press conference he mentioned that the outlook for the market is that progress is greater compared to 2017, when it was 2.8%, and even in areas such as Bajío, Riviera maya and Nayarit, the expansion is estimated above the level expected, as it could reach up to 6% or 7% per year.

He explained that in the case of the Bajío, the projection of the real estate association considers the materialization of the Queretaro-Monterrey industrial corridor, promoted by the Employer’s Confederation of the Mexican Republic (Coparmex).

Meanwhile, in the Mayan Riviera and the peninsular zone, the good outlook is due to the conjunctional attractiveness for foreign investors of acquiring retirement properties in the area due to the greater value of the dollar against the peso.

The growth of the sector includes cities such as San Luis Potosí, Guanajuato, Zacatecas and Monterrey itself, where there will be new industrial parks, logistics , product distribution, procurement, he said.

Similarly, he indicated that these cities are detonating important investments throughout the region, which will allow there states to grow above 6% annually, caused solely and exclusively by real estate development.

He also noted that the expectation of this yearincorporates the forecast that the market reaches to invst between seven thousand and eight billion dollars, an amount that will be in addition to the 32 billion dollars that the industry has managed to invest accumulated in what goes of the present sexenio.

With the above, he described the investment of the market in the present federal administration as an “unprecedented” investment, since in the previous six years the same barely reached around 25 billion dollars.

“The housing market is going ahead and at full steam”, said Alejandro Kuri Pheres, after denying that there are investments in the real estate market halted by the incertainty of the next electoral process.

“It is not a market that moves by political occurrences or fluctuations, my approach is that the Mexican economy is one of the strongest in the worlds and that it will resist any candidate that reaches the presidency of Mexico, the country has the maturity economic growth to continue its growth regardless of the winning candidate”, he added.

Contact us
Ryan Gravel
Ryan Gravel

Ryan Gravel is an American real estate broker and developer. He began his career at a young age working for his family owned construction company.

After graduating college at the University of Central Florida with a degree in business, Ryan set out to find untapped prolific markets around the world. His search landed him in Playa del Carmen, Mexico where he founded Virgin Realty Mexico and co-founded the Saatal Development Group one of the fastest growing development companies in the Riviera Maya.

With extensive market knowledge, professionalism, etiquette, innovation and integrity Ryan is known as one of the most highly respected real estate advisors in the region.

Read more
Latest Posts