Real Estate Seems Immune to Violence

(Acapulco, NA 4 November) According to the president of the Acapulco Diamante chapter of the Mexican realtors association, Luisa de la Peña, no one has come to the point of trying to sell property because of the recent wave of violence sweeping the country. She admitted that sales have dropped somewhat, but mainly because of the financial crisis, not because of security issues. Sales this year are about 50% to 60% of normal, but in 2008 they were also down to around 50%. In Acapulco Diamante, Luisa de la Peña stated that property values have remained flat; they have not gone up, but they have not depreciated either. Private realtor Estela Arteaga Solís told reporters that in the Traditional Zone of Acapulco sales have gone up nearly 50%, as buyers from Mexico City and Morelos continue to acquire vacation properties in that area.