The Real Estate-Tourist Industry Will Recover Sales in 2011 in Mexico, The Market Value of this Sector is of $3 ' 600 Billion Dollars But is Expected that by Year's and Reach $5 Billion Dollars.

The real estate-tourist industry will recover sales in 2011

07/09/2010 09:20



Mexican property market experienced stagnation in their business by having a slight increase of 1% in the first half of 2010, compared with the same period of 2009.

Juan Ignacio Rodríguez, VP of Business Development for Mexico and Central America of the RCI tourism firm, said there are signs showing that the sector already hit bottom in the crisis and begin to show a recovery.

During the launch of the 5th edition of Luxury Markets Symposium, the manager indicated that where it does exists is in investment growth, and that for this year an amount of $500 million is expected while in 2009 was less than $250 million dollars.

Due to the conditions pointed by the sector it is expected that the touristic housing supply attract a large volume of buyers during 2011 and thus initiated the revival of the acquisition of such goods.

Destinations that will attract more resources, both domestic and foreign, will be the Riviera Maya, Quintana Roo, Los Cabos, Baja California Sur, Baja California Norte and Sinaloa.

Currently, the market value of this sector is of $3,600 billion dollars, but is expected that by year's end reach $5 billion dollars.

On a possible effect on the climate of violence experienced, Ignacio Rodriguez said 'we know we have a security problem, but is very focused on non-tourist areas.