Mexico is a healthy and safe country in which to invest in real estate, says Ernesto Cordero, Mexico’s Secretary of Housing, in a meeting that took place with a group of American investors in New York last Friday. Mexico continues to promote itself as a country worth investing in. During the annual Economic Forum in Davos, Felipe Calderon, Mexico’s president made a quick pitch at the end of his session, “Come and invest in Mexico, there will be tons of benefits.”
So is investing in Mexican real estate stable during these rough economic times?
According to Cordero, “The real estate sector in Mexico is not a burden; it is one of the internal motors of the economy.” He went on to assure that the real estate industry in Mexico has not been affected by what has happened in the United States.
He commented, “everyone believes that the real estate sector around the world is running into problems, this is not true.”
“In Mexico, it is a healthy business sector that continues to generate jobs, attract investment and has the support and interest of this country’s government to move forward,” assured Cordero, the president’s spokesperson to the group of investors.
Cordero communicated to investors that his country offers “economic stability, prudent management of public finances, a very strict system of regulations that has shown that it works after the 1995 crisis,” during a time when Mexico made reforms in the banking sector.
“Mexico is an attractive country to invest, with economically stable companies, solid institutions and a housing sector that offers a wide range of investment opportunities,” said Cordero in his message highlighting that it is the first time in history that this nation has invested so much public resources in housing programs that benefit those that most need it.
During the meeting with investors, Cordero, accompanied by other government representatives, signaled that this year the country will build 700,000 houses for low-income families. They predict that this will directly generate an estimated 200,000 new jobs.
The high ranking government officials went on to guarantee the repayment of the mortgage loans given out by the private sector. “We want to say that the industry’s private sector has the support of the government.”
A common message throughout the meeting was that Mexico wants the housing to be sustainable for all those that participate.
Cordero also mentioned that Mexicans living outside the country can benefit from the new construction and if they qualify based on their income level, they can receive a government subsidy of up to 25 percent of the total value of the property.
Photo used on this entry provided by worldeconomicforum taken from http://www.flickr.com/photos/worldeconomicforum/374717331/