AMPI urges Jalisco State Congress to approve Real Estate Law and prevent fraud

By | August 7, 2023
AMPI urges Jalisco State Congress to approve Real Estate Law and prevent fraud

Despite the fact that nationally, Jalisco is a leading entity in the development of the housing sector and presents a high rate of urbanization, there is still no Real Estate Law here that regulates the activity of those who promote or advise on rental transactions or property sales. It is a legal vacuum that opens the door to possible fraud or simply bad practices that put the assets of families and investors at risk.

The president of the Mexican Association of Real Estate Developers in Guadalajara (AMPI), Mario Romo Alarcón, pointed out that it is vital that the State Congress approve this new legislation in order to officially certify and register professionals in the sector and, consequently, give the greatest possible legal certainty to those who wish to acquire or rent a property.

AMPI urges Jalisco State Congress to approve Real Estate Law and prevent fraud

While the issue awaits its turn on the agenda of the state legislature, this organization of professionals advances in offering a permanent training plan, establishing alliances with other groups and government institutions, as well as integrating a network of advisers with work, prestige, and recognition of its honesty, that it be open to the public and easily accessible.

As part of the strategy, next Friday, September 23, the AMPI Guadalajara Real Estate Forum will be held, in its 31st edition, Romo Alarcón announced this morning, who announced that some 1,200 attendees are expected for this day.

This is a meeting that will bring together the most influential real estate leaders and experts considered agents of change who will share their knowledge and experience. The objective is to provide more elements aimed at professionalizing the task of real estate advisors.

They will be present, for example, the researcher Alfredo Ceja; the businesswoman Alejandra Ríos Spínola; the journalist Diego Petersen Farah; and the communicator Gloria Calzada.

The program consists of 20 conferences and discussion tables. Among the topics is that of Real Estate Law; and other highly topical ones such as the new technologies applied to this sector, as it is known that online property searches have grown by 36% this year. There will also be talk about the future that is glimpsed for marketing, and the so-called unicorn companies will be analyzed.

Why is the Real Estate Law important for Jalisco?

  • The real estate industry contributes 12.8 percent of the country’s Gross Domestic Product.
  • 19 states already have a law to regulate real estate sales.
  • Within the Mexican Republic, Jalisco is considered in third place in real estate supply.
  • Around 10,000 independent real estate consultants operate in the State without certifications and who are not part of any registry of professionals.
  • Contrary to some forecasts of contraction in the market, during this year real estate sales have increased by eight percent.
  • Prices have generally increased a little above inflation.

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AMPI urges Jalisco State Congress to approve Real Estate Law and prevent fraud