The Tourist Industry Recover Real Estate Sales in 2011

The tourist industry recover real estate sales in 2011

07/09/2010 09:20


The property market in Mexico registered a slowdown in their businesses to have a slight increase of 1% in the first half of 2010 compared with the same period in 2009.

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

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

Due to the conditions set out the sector expects growth in tourist housing offer to attract a large volume of buyers during 2011 and thus initiated the revival of the acquisition of such property.

The 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 3 thousand 600 million dollars, but it is expected that by the end of the year reached U.S. $ 5 billion.

About possible involvement by the climate of violence experienced, Ignacio Rodriguez said "we know we have a security problem, but is very focused on non-tourist areas."