Mexico City is booming. It will probably be the 7th richest city in the world within 5 to 10 years.
This will create many opportunities for developers, investors and individual property owners in this thriving city.
Just look at a map of the Americas and you will see that Mexico City in the center is a natural hub. It’s proximity to the United States and Canada along with easy access to the emerging markets of South and Central America are one factor. The greater metropolitan population of 21.2 million people (similar to New York City) helps fuel the economic growth.
Huge amounts of direct investment from foreign countries has been driving the real estate growth. PricewaterhouseCoopers estimates the annual growth to be 4.5% for the period of 2005 to 2020 which is the highest growth rate of the top 15 cities in their list of the richest cities and urban areas for 2020.
Mexico City currently has over 1,000 modern shopping centers and will add 100 more in the next two years as investments are made in the retail sector. In the office sector, Mexico City has 52 million sq ft of modern office space with another 52 million sq ft being developed over the next three years.
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