Vincent Ferrero, president of the Mexican Association of Real Estate Professionals (AMPI) Los Cabos highlighted that the real estate area, like all other sectors of the economy, have had slower sales in recent months due to the health contingency due to the Covid pandemic -19, noting that despite the facilities that both banks and credit institutions have been offering, it is difficult for people to make a long-term decision in the midst of the uncertainty that the pandemic has promoted:
“Above all, the sale of retirement and rest as well as for this time of certainty, the sale of houses for nationals, locals who want to invest here in Los Cabos, however it is important to mention that the real estate sector, the construction sector, real estate development It is a sector of economic growth and does not react as badly compared to other sectors such as tourism, which is much more fragile than real estate, but due to unemployment, uncertainty, although interest rates drop, although Infonavit and Fovissste are also providing facilities and banks are also accessing mortgage credit, banking, obviously it is more complicated because in this uncertain time it is difficult to make a long-term decision such as buying a home. “
On the other hand, he stressed that the income sector is a little different since precisely this health contingency made people reflect on where they want to live and where they will rent in the coming months, which has been reflected in greater movement both in Los Cabos as the whole country.
Source: tribunadeloscabos.com.mx
