Mexico's Economy 2012Mexico’s economy recovery keeps moving forward and this is translating into positive real estate news for most of Mexico’s markets. In the month of February, Mexico City’s unemployment rate stood at 6.3% a 5% improvement over the same month one year ago. This year’s positive growth pattern (GDP is expected to increase close to 4%) will be influenced by the federal elections timing and by the pace of the U.S. economic recovery, where it appears that a new cycle has taken hold.

A PROMISING START IS TAKING SHAPE

As a result of improved business expectations, demand for real estate showed sustained healthy growth over the first and second quarters of 2012.  For instance Puerto Vallarta shows a 30% increase in the number of properties sold from July 2011 to July 2012 according to the realtors MLS.  The financial and information technology sectors continue to be key sources of growth for Mexico as a whole, but specialized manufacturing companies (for example pharmaceutical) are increasing their activity and this trend is expected to continue over the near term.

UNEVEN GAINS, SPOTTY CHALLENGES

As is usually the norm for this third quarter, activity in Puerto Vallarta’s market has slowed some but new sales are picking up speed.

OUTLOOK FOR THE REST OF THE YEAR

While demand and momentum remains positive, underlying growth is on par with the long term averages; still, sales for all of 2012 are likely to be at much better levels than 2010, and 2011. Some positive signs after the July elections, now that the new federal government has been elected, could help boost confidence, for an already positive-trending year.

 

Timothy Real Estate Group – An innovative company setting new standards in Real Estate sales and services has the most professional and experienced Realtors in the Puerto Vallarta area who understand the intricacies of Mexican Real Estate ownership, the local market, Puerto Vallarta property codes and regulations and financing.  The Timothy Group uses that knowledge to provide a sound analysis on every aspect of property ownership. Timothy Real Estate Group is known for professionalism and experience and they bring this to every transaction they work on for the benefit of Real Estate investors and developers alike. Ask about our Real Estate Listings