Latin America’s leading economies of Brazil, Mexico, Colombia, Peru and Chile continue to benefit from a convergence of long-term demographic, economic and political trends that are expected to support sustainable growth over the next several years.

These positive long-term trends include attractive demographics, a growing middle class, greater mortgage availability and large housing deficits, all factors that should continue to result in resilient demand for housing and the development of other real estate products.

Political risk has receded in the region as newly elected market-friendly leaders prevailed in Brazil, Colombia and Peru; some uncertainty remains in Mexico with the questionable initial policies of its new president, Andres Lopez Obrador.

Brazil’s economic and political outlook improved sharply in 2018 with the election of a pro-business president who is already pursuing a reform agenda. GDP is expected to grow in the 2 percent–plus range in