During his first public appearances as 2018 president of AMPI (the Mexican Association of Real Estate Professionals), Alejandro Kuri Pheres told the press that, thanks to the positive activity of the internal market as a result of population growth, the leading institution foresees close to five percent growth in the real estate sector during the year.
If so, the sector will develop above the Mexican economy. Although Kuri Pheres acknowledges that this indicator does not represent the full potential of the industry, it shows solidity and continuity: “We know that there are countries with growth near and above 10 percent; however, we believe it is better to maintain stable vigor than to create real estate bubbles,” he explains.
According to AMPI, factors that could affect real estate business during the year include the electoral process and the renegotiation of NAFTA (the North American Free Trade Agreement): “Mortgage interest rates could rise in the coming months and create a lack of confidence in home buyers, but we trust that the impact will be minimal. In fact, developers expect an increase in production of close to 15 percent.”
“The real estate sector is one of the most stable markets for investors. Proof of this is that the September 2017 earthquakes did not have a great impact in the following months. Investors continued to trust in the industry.” —Alejandro Kuri Pheres, president of Mexican Association of Real Estate Professionals.