Mexico City Real Estate News
Mexico City
Worldwide Ultra Luxury Home Sales Dip in Q3
According to new research by Knight Frank, global super-prime ($10m+) residential sales fell 2.4% in Q3 2023 on a year-on-year basis, with 362 sales across the 12 markets covered in the three months to September compared to 371 in the same period last year.
55.4 Million Americans on the Move Thanksgiving Holiday
55.4 million travelers will head 50 miles or more from home over the Thanksgiving holiday travel period. This year's Thanksgiving forecast is an increase of 2.3% over last year and marks the third-highest Thanksgiving forecast since AAA began tracking holiday travel in 2000. The top two years were 2005 and 2019, respectively.
Global Commercial Investment Implodes 51 Percent Annually in Q3
Global commercial real estate investment declined by 51% year-over-year in Q3 to $142 billion. Investment fell by 53% in the Americas, 54% in Europe and 31% in Asia-Pacific. Rising interest rates in many countries contributed to the significant drop of investment activity.
Category 5 Hurricane Otis Pounds Acapulco
The National Hurricane Center (NHC) estimated maximum sustained wind speeds at landfall were 165 mph (270 km/h), making Otis a Category 5 hurricane. The core of Hurricane Otis made a direct landfall over the greater Acapulco, Mexico area.
