The Mexican Economy
Population Demographic:
Population: 107,449,525 (July 2006 est.)
Growth Rate: 1.16% (2006 est.)
Economy
Mexico is the third largest foreign direct investment host among developing countries and the 7th largest exporter in the world. Mexico is home to a skilled and competitive labour force and has a strategic geographic location with direct "just in time" access to the North American market, and world-class inputs and technology. It also benefits from the largest network of Free Trade Agreements.
(Source: http://www.embamex.co.uk/Economica/invest_eng.htm)
GDP: 3% (2005 est.) (3.5% and 4%, according to the Central Bank of Mexico)
Inflation: 3.3% (2005)
Unemployment: 3.6% plus underemployment of perhaps 25% (2005 est.)
Decline in Inflation 98-2006
Mortgage Market
2003, private banks approved 15,571 mortgage loans. Last year, that figure jumped to 29,318, according to the Mexican Banking Association, which includes 80% of the country's banks. 400,000 Housing loans in total.
Interest Rate Forecast: Falling Interest Rates.
Supply & Demand
1.6 million housing units a year required. Actual production may not surpass 800,000 per annum ( Softec- Mexican consultancy firm )
Tourism Market: 25% per annum increases in the tourist areas.
22 million per annum foreign visitors excluding visitors. ( Germans; Italians; Spanish; Canadians; American)
1 million in Campeche area. Mostly Winter season. (Source: Mall Group)
Sector figures revealed that more than 5.2 million international tourists visited Mexico during the first quarter of 2004, 14.6 percent more than during the same period last year. 22 million per annum foreign visitors excluding visitors. ( Germans; Italians; Spanish; Canadians; American)
1 million in Campeche area. Mostly Winter season. (Source: Mall Group)
Property Prices and rental yields
Estimated Gross yield 5-7%
Estimated annual appreciation 15%. Good weather conditions:
For Up-to-date weather please visit the following website:
http://smn.cna.gob.mx/