In an impressive display of resilience and growth, 2023 marked a historic year for the real estate sector in Mexico, registering an unprecedented investment of 25 billion pesos, according to the Mexican Association of Real Estate Professionals (AMPI). This record-breaking figure underscores the burgeoning confidence of investors in the Mexican real estate market.
Investment Surge Amidst Economic Complexity
Despite the intricate challenges faced by both national and international economies, the real estate market in Mexico has shown remarkable dynamism. Emilio Rojas Cobián, the national president of AMPI, highlighted that this growth is a testament to the robust confidence investors have in the stability and potential of the Mexican real estate sector.
Tourist Properties Leading the Charge
A significant portion of this investment surge can be attributed to the tourist property segment. This sector has seen substantial benefits from the phenomenon of company relocation, also known as nearshoring, as well as the increasing influx of foreigners to Mexico. The heightened interest in tourist properties has sparked a wave of construction and sales of houses, apartments, and residential condominiums in both beachside and urban destinations.
Popular Investment Destinations
According to AMPI data, the top destinations attracting this investment include Mexico City, Playa del Carmen, Puerto Vallarta, Ajijic, Chapala, Los Cabos, and Riviera Nayarit. These areas, renowned for their picturesque beaches and charming magical towns, have become hotspots for real estate development, drawing investors and tourists alike.
Upcoming National Real Estate Congress in Acapulco
To further bolster the Mexican real estate industry, the 53rd National Real Estate Congress will be hosted in the port city of Acapulco. This significant event aims to gather real estate professionals and investors, promoting the reactivation of the local economy and tourism in the region, particularly in the aftermath of Hurricane Otis.
Acapulco as a Hub for Event Tourism
“Acapulco is ready to warmly welcome all congressmen, which will contribute significantly to the promotion of event tourism, a sector that greatly benefits the local economy,” stated Rojas Cobián. The choice of Acapulco underscores a commitment to revitalizing the region’s economic landscape through strategic real estate investments and tourism.
Notable Attendees and Support
The Congress presentation saw the presence of notable figures including Simon Quiñones Orozco, Secretary of Tourism for the State of Guerrero; Arturo Lopez Sugia, Undersecretary for Tourism Development for the City Council of Acapulco; Aida Patricia Perez Perez, Director of Operations for Fidetur Acapulco; and Julian Uriostegui Carbajal, President of the Guerrero Business Coordinating Council, among others. Their participation highlights the collaborative efforts across various sectors to foster growth and development in the real estate industry.
