Real estate sector will grow 6% in 2019: AMPI

Pablo Vásquez, national president of the AMPI, said that this rise is conservative because at the beginning of a new sexennium real estate activity in all its segments is slower, but will exceed the growth of 2018, which was 5.1%.

The real estate sector will have a growth of between 5.5 to 6 percent this year, estimated on Thursday the Mexican Association of Real Estate Professionals (AMPI).

At a press conference, Pablo Vásquez, national president of the AMPI, said that this rise is conservative because at the beginning of a new sexennium real estate activity in all its segments is slower, but will exceed the growth of 2018, which was 5.1 percent.

“We expect Industry growth to accelerate after the second quarter, but for now it will be more controlled,” said the expert.

Vásquez said that the residential segment will be the largest increase this year, with an estimated 7 percent, driven by demand in Mexico City, State of Mexico and Jalisco.

Resultado de imagen para Sector inmobiliario crecerá 6% en 2019: AMPI

Also, the residential sector will have greater development in luxury housing, vacation, hotels, and housing for rent and Co-living.

“The demand for rental income will continue to trend, we are at 16% and estimated will reach 20% in 2019, but it will not stop real estate development because there are investors who buy to rent,” he said.

Vásquez pointed out that Mexico City will grow by 5.8 percent, largely due to the restriction on mega-construction permits imposed by the CDMX Government.

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“The brake implies a slower process for mega projects, but we have to adapt, these measures are for improvement,” he said.

Regarding housing policy of the Federal Government said to be positive for the release of resources for housing acquisition subsidy, as announced a few days ago by the Ministry of Agrarian and Territorial and Urban Development (Sedatu) of 400 million pesos.

“We hope that the subsidy increase will continue, before March we will have something more solid about it,” he concluded.

Source: El Financiero

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