"Mexico is in a hurry," said Towle after explaining the country's macroeconomic framework. He assures that, despite the growth projections being flat, this represents an opportunity for developers, since the risk of a breakdown in the economy is "minimal." Also, short-term rates and controlled inflation generate a stable mortgage rate, the analyst said .
He insisted, on the other hand, that much of Mexico's economic development rests on the real estate sector and that without the contributions of this sector, the nation's growth would be stagnant .
Eugene Towle pointed out that the developers' strategy should be generated based on the understanding of new demographics in the country that need to be studied. "We have to understand what cities are going to be like in the future and who we are designing for ."
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The transition from a generation that was based on commodities to one more focused on experience and customer service is also a new challenge for developers, according to Towle . 'We have made the mistake of believing that consumers see everything at a price per square meter and this is not the case. With a new generation that controls purchasing decisions, we have to think about how do we serve the customer and what market do we offer them? ', He said.
The drop in low-income housing sales is not a cause for concern for Softec's Managing Partner but rather an opportunity to look at other markets such as vacation, office and commercial markets. He insisted on analyzing the nation's demographic changes as a primary variable .
The outlook for the new administrations
"Andrés Manuel López Obrador is a polarizing president, who sometimes evokes the past in search of solutions, but who is committed to maintaining macroeconomic variants," José Shabot pointed out during his participation in the forum. He also spoke about Claudia Sheinbaum's administration and reaffirmed the real estate industry's commitment to work hand in hand with the CDMX government to trigger development in the Mexican capital.
He commented that in the city there is a deficit of 62 thousand homes that the sector can take advantage of. "We want to develop the areas that are a priority for this administration, such as Vallejo and the Historic Center , and we seek to generate more housing to generate more employment," said Shabot.
Resources:
HOW TO REMODEL A HOUSE AND WHAT ELEMENTS TO CONSIDER
WHERE TO BUY A HOUSE IN MEXICO? STATES WITH FEWER COVID-19 CASES
CAN THE PURCHASE OF A PROPERTY BE CANCELED?
7-STEP GUIDE TO RENTING YOUR FIRST APARTMENT
