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AMPI says real estate down across country but maintained in Cancun, Riviera Maya

Cancun, Playa del Carmen, Q.R. — Although a decline in real estate sales has been felt around the country, the national head of AMPI says the northern regions of Quintana Roo maintain investments.

Pablo Vásquez Rodríguez, national president of la Asociación Mexicana de Profesionales Inmobiliarios (AMPI) reports that although a decline in the real estate sector has been noted nationwide, Quintana Roo, particularly in the northern area, continues with growth in the commercial and tourist sectors, providing hope to the industry’s real estate professionals.

Pablo Vásquez Rodríguez says that the economic slowdown has hit the state of Quintana Roo as well as the rest of the country, however in the northern regions of Quintana Roo, it does so in smaller proportions since the region is a tourist power and investments are maintained in both Cancun and in Riviera Maya.

He estimates that at the beginning of 2020, there will be a 2.5 percent growth in the state, equivalent to an investment of 2 billion peso. He adds that it is the residential sector that has been hit, but the tourism and commercial sectors will compensate for this decline.

Nationally, Quintana Roo stands out, as does Yucatán and the Bajío area as the only regions with above average growth, he notes.

Vázquez Rodríguez said that if there is something that previous economic crises have taught, such as that of 1994 or 2008, it is that “nobody will come to help us. We have to be a counterweight and encourge people to invest.”

The important thing to promote is that in Mexico, the cost of land, labor and the ease of supplies make an investment a quick return, and therefore, it remains an attractive market worldwide.

He acknowledged that through AMPI, real estate agents have been trained to work in these areas to provide legal certainty in the sector, adding that all licensed agents are certified with a Reconocimiento de Validez Oficial de Estudios (RVOE) from la Secretaría de Educación Pública.

In Quintana Roo, professional real estate certification is law.