ICREA / WorldProperties.com News
Foreign investment will boost Mexican market in 2013
February 25, 2013
The Mexican Association of Real Estate Professionals (AMPI) is forecasting market growth up to 4.5% for 2013, mainly due to foreign investments expected to be made in the sector. AMPI president, Guillermo Salgado Castaneda (pictured), noted the economic situation in Europe has led some companies looking to invest in Mexico.
He mentioned the case of France where authorities have increased income tax to 65 percent, causing French investors to look elsewhere to take their capital to Mexico. “All this will lead to sustained growth,” said Salgado Castaneda.
AMPI signed an agreement with the French association FNAIM last December during the French group’s annual congress and international real estate forum. AMPI representatives were specials guests at the FNAIM event.
Salgado Castaneda said it is estimated that cities like Tijuana, Ensenada, Rosarito, Tecate, and the Federal District, which registered significant growth in 2012, will continue to evolve in the next decade. On the growth of the sector, Salgado Castaneda said that as of last November the industry recorded a growth of 4.1% compared with the same period in 2011, with 102 million in mortgage loans.
AMPI advocates strongly for the certification of the profession, stressing agents need to be trained and updated to ensure orderly operations and transparency.