Real Estate Market: Challenges and Opportunities

The commitment to long term rentals instead of vacation rentals, preference for larger residences and innovation in the marketing tools of the projects under development are some of the changes expected in the coming months, which could set a new pattern in the sector.

Thursday, August 27, 2020

The health crisis caused by the spread of covid-19 ended up changing consumer habits in all Central American markets. In this scenario the real estate market is no exception. This sector will have to adjust to take advantage of the opportunities generated by the current crisis.

You may be interested in "Real Estate Supply: How do Prices Behave?"

Technology has played an important role in the emergence of this new reality, as people are willing to perform all possible activities through digital tools. For example, virtual visits to real estate projects via videoconferencing.

Check out the "Feasibility studies of real estate projects" that we carry out at CentralAmericaData. reviews that "... The confinement can make many clients rethink the qualities of the house they wish to acquire in order to live and change their tastes for homes with more light, more surface area and implement home automation technology to facilitate their domestic activities."

Studies by CentralAmericaData indicate that at the end of the first semester of 2020 in Central America, close to 4 million people were looking to buy or rent a residential property through the Internet, and 18% of these consumers were exploring options to buy an individual home.

The article from adds that "... It is possible that vacation rentals are destined to long term rentals due to the fact that tourism will be affected by the covid-19 crisis, especially in the segment of foreigners who wish to stay for a certain period of time in the country."

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