≡ Menu

Mexico City — It is Richer Than You Think

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.

Skyscraper in Mexico CityJust 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. 

Mexico City offers many attractions beyond commerce.  It is reported to have more museums than any other city in the world.  The Palacio de Bellas Artes Museo Nacional de Antropologia is over 100,000 sq ft and is regarded as one of the best anthropology museums. Another great museum is the Museo de Arte Modern.  And there are at least 200 more. There is also the symphony, operas, sports, parks, traditional markets and luxury shopping. (Future posts will tell much more about this fascinating city).

As with every city, there are problems.  Mexico City has been known for years to have a pollution problem.  However, the city has become a leader in reducing pollution levels.  Some measures of pollution are as much as three times lower than they were 25 years ago.  Traffic and parking are a problem but the public transportation system is excellent and constantly improving.

One last thought,  the declining exchange rate of pesos to the dollar may impact retail growth, but at the same time, it makes Mexico very attractive to US citizens.

 

 

{ 0 comments }

Paradise4Gringos Welcomes You

 

Paradise4Gringos -- Scene of a beautiful pool close to the beach

 

Welcome to Paradise4Gringos

 Your Resource for Information on Latin America Real Estate

 

This is the first post on a new version of the Paradise4Gringos website.  We have been providing real estate services and consulting for over 30 years in the United States and Latin America. Now we want to tell you about many of the things we have learned as we have helped others.

We want to make this information more accessible to more people.  Every day more people think about escaping to a new life.  They look for a lower cost of living and new and exciting locations.

Latin America offers many different possibilities for you.  You may be thinking of real estate for retirement, for a vacation home or for investment.  You may also be thinking of living and working in a different country.  Along with those dreams, you will have questions and concerns.  We want to provide the answers.

 

We Are Here to Help You

We are a resource for individuals interested in real estate in foreign countries and especially Latin America real estate.

We also provide consulting and referral services.

We have a great network throughout the world of some of the top professionals that can assist in everything related to real estate and relocation.  We will give you unparalleled support.  Everyone associated with Paradise4Gingos will put a ton of effort into helping you.

Our goal now is to provide an interesting blog and resource pages which will provide tips about real estate and information on foreign markets. We especially like Latin America. It is close to the United States and Canada and offers many benefits to those who purchase property there.

We also want to give you information pro and con about moving to foreign countries to work, play or retire.  And we want to let you know much more about foreign real estate as an investment.

 

We are asking for your help:

  • Please let us know about anything that you would like to see in the blog.
  • We welcome guest posts that fit within our guidelines and editorial calendar.
  • Please give us any suggestions that will make this site better for you.
  • Please tell your friends and associates about us.

Thank you.

 

{ 0 comments }