All spot on target data. Pozos are on fire. We are seeing lots of projects even breaking ground now with half the building sold. Most people don't want to hassle with pain in the ass renovations and almost all pre-existing properties need some work usually in the kitchens or bathrooms.
2025 and 2026 are going to be fun years watching a bunch of those blanqueo dollars go into the real estate sector.
It is also nice that many locals are shifting and getting out of Airbnb's and going to long-term market. Unfortunately there is a drop of tourism of about 35% to 40% so that is not good but once the peso gets to a reasonable level, and also as more and more companies start operations here again after the CEPO ends, corporate travel should pick up.
Totally agree, I think either one of two things will happen: 1) There will be another implicit devaluation after cepo comes off OR 2) Cepo continues and businesses will be forced to reduce prices, potentially worse for the economy overall. In either one of those cases, foot traffic and investments will increase in 2025, but especially under #1 if the cepo is terminated.
All spot on target data. Pozos are on fire. We are seeing lots of projects even breaking ground now with half the building sold. Most people don't want to hassle with pain in the ass renovations and almost all pre-existing properties need some work usually in the kitchens or bathrooms.
2025 and 2026 are going to be fun years watching a bunch of those blanqueo dollars go into the real estate sector.
It is also nice that many locals are shifting and getting out of Airbnb's and going to long-term market. Unfortunately there is a drop of tourism of about 35% to 40% so that is not good but once the peso gets to a reasonable level, and also as more and more companies start operations here again after the CEPO ends, corporate travel should pick up.
Totally agree, I think either one of two things will happen: 1) There will be another implicit devaluation after cepo comes off OR 2) Cepo continues and businesses will be forced to reduce prices, potentially worse for the economy overall. In either one of those cases, foot traffic and investments will increase in 2025, but especially under #1 if the cepo is terminated.