The CORFAC meeting discussed the evolution of real estate markets internationally, the opportunities in the post-Brexit business world, and the streamlining of collaboration between regional and international markets.
The most important real estate markets in Russia are Moscow and St. Petersburg. The market is stable, the leading players moving and expanding being almost exclusively the existing companies in the market and only occasionally new companies entering the market. There is a growing appetite for domestic investors to invest in European markets.
In the US, the real estate market is at full swing and is expected to continue at this rate.
In many regions, against the background of the increased appetite of investors, “the products available in the market become limited. 2018 has brought a higher number of sales transactions, and we believe that this trend will continue in 2019 “, according to Andrew Jaffe, President of CORFAC International.
“In some markets, such as Arizona, Phoenix, rents have increased by up to 25% in the last two years. The selling price of residential products was also appreciated amid rising costs of construction materials and working force due to declining available workforce in construction, a situation encountered in many American states “, says Andrew Jaffe.
Mexico, the second-largest economy in Latin America, after Brazil, managed to attract foreign investment growing by 19% in the first quarter of 2018.
“Mexico’s manufacturing market is one of the most competitive internationally, with the automotive industry being the strongest segment of the economy,” said Miguel Cavazos, Managing Partner of Citius Capital | CORFAC International.
With a population of 124 million in Mexico and 40 million in the United States, with an annual increase of about 2% and an unemployment rate of 3%, “Mexico is a healthy market, next to a huge market (United States),” Miguel Cavazos believes.
Despite the delay in concluding the NAFTA agreement’s renegotiations and the upcoming presidential elections, the real estate market is in continuous development, both in the office space segment and in the industrial one.
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