A few weeks ago, Gustavo Solares, president of the Mexican Association of Real Estate Professionals; Silvia Elias, president of the International Real Estate Federation (FIABCI) and Antonio Hánna, president of the Latin American Real Estate Confederation; took turns as guests on the real estate industry-oriented radio show Alto Nivel Inmobiliario, produced by Imagen Radio in Mexico City.
Addressing the election of Donald Trump as president of the United States and how this will impact the real estate business, all three agreed that Mexico currently has competitive advantages that make it an attractive, safe country for investment and this will allow the sector to thrive.
“We have to emphasize that Mexico will continue to be an important supplier for the United States, whether a wall is built or not. This generates a production demand, and therefore, a necessity of enough real estate developments for this production to take place,” Solares mentioned.
Similarly, Silvia Elias spoke about dollarized markets (such as Puerto Vallarta and Los Cabos), which become attractive for foreign investment due to the current rate exchange. Meanwhile, Antonio Hánna mentioned than the selling points in Latin American destinations—such as natural beauty, human warmth, weather and affordability—will represent a worldwide competitive advantage.
“Each time surprising events happen—such as the financial crisis in 2008, Brexit and Donald Trump’s election—we go through a time of uncertainty and adjustment that subsequently balances itself. Now, due to the peso devaluation, we will remain attractive for some sectors but the national market could be at a disadvantage.” —Silvia Elias, FIABCI Mexico president and PV Realty director.