Mexican Economy Grows 2.4%

The Instituto Nacional de Estadística y Geografía (INEGI) (National Institute of Statistics and Geography) reported that the country’s gross domestic product (GDP) grew 2.4 percent during the first quarter of the year (compared to the same period in 2017). According to the institution, the main driver of this development was the primary sector (raw materials), with growth of 5.1 percent. On the other hand, the tertiary sector (services) grew 3.1 percent, while the secondary sector (end products) showed no change.

In this context, Alejandro Kuri, president of the Asociación Mexicana de Profesionales Inmobiliarios (AMPI) (Mexican Association of Real Estate Professionals), expects the construction sector to be more dynamic than last year. At a press conference, he declared that investments of between 7 and 8 billion dollars are projected for 2018, so the real estate industry could reach 4 percent growth at the end of the year.

According to Kuri, Riviera Nayarit is in one of the most dynamic zones in the country, along with the northern border zone and the Bajío (Guadalajara, Querétaro and San Luis Potosí), which could increase their activity by up to 7 percent. Finally, he pointed out that regardless of who wins the next presidential election, the industry will maintain its positive performance.

“The real estate industry does not move because of political fluctuations. Regardless of which candidate becomes president of Mexico, our country has sufficient economic maturity to continue its growth.” —Alejandro Kuri, AMPI president.