Real estate in Mexico is surging to a record high, the country’s biggest stock market and the countrys biggest real estate market.
The real estate index jumped 3% in Mexico City, the nations second biggest city, to 4,869.62.
It was the largest increase in the past two years.
The benchmark MSCI Mexico City index rose 3.5% on Wednesday to 5,879.09.
The index is down from the 4,715.85 that it reached in November, a year ago, and the 4.2% in November 2016.
Mexico’s benchmark 10-year bond yields jumped to 3.98% on Thursday.
Mexico has been experiencing a massive housing bubble in the country, which has seen prices rise dramatically and people move out of the country in droves.
But the stock market boom has not been matched by any real estate bust, according to analysts.
Real estate prices soared to record highs in the US and Europe last year, when global demand was booming, but it has since crashed as the global economy has been hit by the pandemic.
Mexico, where inflation is currently near 20%, is a sign of a potential rebound in the housing market.