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.
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.
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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.
