Mexico investment and telecommunications billionaire, Carlos Slim, doesn't often give free investment advice. So when he does, it's worth listening.
This week, the man Forbes say is the third-richest in the world, was in a good mood while attending an art soirée at the Soumaya Museum in Mexico City.
Reporters were eager for his thoughts on recent changes to the Mexican government's cabinet and caught him on the sidelines for a few wise words.
His advice to them was plain and simple: things are going great, invest in Mexico now.
He applied the logic that low interest rates, a weak peso against the dollar and policies aimed at stabilizing the fiscal environment all make it an opportune moment for investment in Mexico. He even went so far as to praise the Mexican government's new economic package, openly.
For us at Investment Properties Mexico, his comments sounded familiar.
We wouldn't go so far as to claim we said them before him (the savvy 69 year old has been around a while afterall) but the reasons Slim quoted are some of the very same we've been talking about all year. And they apply equally to Mexico investment property.
As the world starts pulling out of recession the smart investment money is starting to flow to emerging markets and, partly for Slim's reasons, Mexico tops the list.
Of course, not all of this cash will go into property, but a lot of it will. More investment in property and cheaper credit (see Slim's reference to low interest rates above) mean we can expect something of a rush on Mexico investment property next year.
Think back to those economics classes at school. When there's a rush in demand, but little increase in supply, what happens?
Answer: Prices go up.
So, now the only question that really remains is whether you want to buy your Mexico investment property before prices go up, or after?
(You shouldn't need our help to answer that one.)
Of course, there are many other reasons to invest in Mexico real estate now as well: a great climate and massive government investment in infrastructure are but two, and we recently came up with 10 reasons to buy Mexico real estate in 2010 in another blog.
But you might not listen to us. We know what we're talking about, but hey! we have a vested interest afterall.
Stop again and think hard though. Even if you choose to ignore our advice, you might be a little foolish not to take that of a happy Mexican billionaire...
Visit the author's website to find out more about the current Mexican property climate and how it affects Mexico investment.
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