Sunday, June 22, 2014

Real estate boom in north and central areas

Cancun Qroo. According to MiamiRealEstateInc The real estate market in Mexico will grow 6.5% this year;however, in the cities of the north and center of the country will be greater the expansion, according to estimates by the Mexican Association of Real Estate Professionals (AMPI)
States such as Queretaro, Veracruz and Puebla and cities like Tijuana, Los Cabos, Cancun and the Riviera Maya are the points at which further growth, because they have shown recovery is expected, said executive vice president and national coordinator of regions AMPI, Antonio Hanna Grayeb.
Only Cancun and the Riviera Maya hotel occupancy report sustained above 80% since 2013 and, precisely, the rebound in economic activity leading every city has a direct impact on real estate.
"In the case of the Bajio, there is a boom in industrial areas, growth in the automotive and manufacturing, and it also affects growth will have the sale of residential property this year," he said.
With respect to Tijuana, he said, is a very special case, because it is a city that was marked by the issue of insecurity and violence; however, today there are also an interesting economic activity in the manufacturing sector, which is moving other sectors of the economy as it is real.
"In these cities the markets are already well defined; most Americans and Canadians is concentrated in Cancun and Los Cabos, while the European market and more recently a percentage of South Americans prefer options like Riviera Maya and Tulum, for his concepts of harmony with the environment ", he said.
Considered the possible adoption of the 27 constitutional reform that would allow foreigners to acquire property in the coastal areas of the country, would give a boost to the sector to 15% immediately to the approval of the reform; however, Linda Neil Jones, representative in Mexico of the National Association of Realtors, said that although at the time looked favorably upon the reform of Article 27 of the Constitution, today considered very remote possibility that, by the time that has elapsed since approval in the House of Representatives and Senators brake later.

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