A few weeks ago, the 12th edition of the Gran Salón Inmobiliario was held at Centro Internacional de Negocios Corferias, in Bogotá, Columbia, with more than 200 international companies exhibiting their projects and real estate opportunities to the public. Among the countries at the fair, Mexico stood out for its options, benefits and advantages to real estate investors.
“One of the reasons investors prefer real estate in a Mexico beach destinations is the return on investment, which can range from 10 to 14 percent per year on the value of the property,” said Christopher Gill, director of SIMCA, a Mexican developer that participated in the event. “Other influencing factors are the country’s economic flexibility, with low taxes and the exclusion from taxes on the first property.”
According to Forbes Mexico magazine, other countries showing strong performance are Brazil, Colombia, Chile, Panama and Peru. In the case of Mexico, the real estate sector is the second largest contributor to the Gross Domestic Product (GDP), accounting for 15 percent of the total and generating more than 15 billion jobs directly and indirectly. And the Secretaría de Hacienda y Crédito Público (SHCP) (Ministry of Finance and Public Credit) notes that the real estate industry impacts 48 other sectors of the Mexican economy.
“Mexico is an attractive place for investors, thanks to its cultural diversity, gastronomy and beaches. It is one of the Latin American countries with the greatest tourist demand because of its geographical location, which allows people to rent or invest in a property for tourism or business purposes.” —Roberto Vergara, director of Centro Internacional de Negocios Corferias.