Real Estate Market: What Does the Consumer Want?

Open spaces in the condominiums, green areas and enough rooms to accommodate a home office, are aspects that Guatemalan consumers consider when buying a residential property.

Tuesday, November 17, 2020

As a result of the covid-19 outbreak, the population in Guatemala was subjected to strict quarantine, which caused changes in people's behaviors and modified tastes and preferences.

You may be interested in "Rental and Sale of Apartments: Evolution of Demand"

In this context of new commercial reality, real estate developers have dedicated themselves to understanding the demands of potential clients. Fernando Lara, founder of the real estate company BiTV explained to Elperiodico.com.gt that "... as far as the housing segment is concerned, the first house was one of the niches growing in the sector. Now the demand is based on 'what am I going to buy' considering the open spaces, green areas and number of rooms to accommodate the office."

Lara added that "... in the midst of the economic and health crisis, the real estate sector has had to reinvent itself by adapting digitalization to its projects and redesigning future plans to meet current consumer trends."

See "Residential Construction: More than $1 Billion Projects"

Sales strategies have also had to evolve. According to businessmen in the sector, companies have advanced in the digitalization of processes, through the use of videos for display in social networks, 3D animations, digital surveys, drones, video calls and online financial and legal processes.

Studies by CentralAmericaData indicate that in Guatemala between July and October of this year, the number of people who explored options for buying a house online fell 23% and the number of consumers interested in buying an apartment dropped by 31%.

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Housing: How is the Central American Market behaving?

November 2020

Between July and October 2020, the number of people in Panama looking for rental homes grew 56%, while in Guatemala, the number of people exploring options for renting a home fell 37%.

CentralAmericaData's interactive platform, Consumer Insights, monitors in real time changes in consumer habits in all markets in the region and in other Latin American countries, with key data to understand their behavior, new trends and anticipate eventual changes in their purchasing patterns.

Rental and Sale of Apartments: What is the Most Sought After?

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Between July and October 2020 the number of people in Panama looking for apartments to rent grew 34%, while the number of Honduran consumers looking to buy apartments for sale fell 5%.

CentralAmericaData's interactive platform, Consumer Insights, monitors in real time changes in consumer habits in all markets in the region and in other Latin American countries, with key data to understand their behavior, new trends and anticipate eventual changes in their buying patterns.

Residential Sales: How do Preferences Change?

August 2020

Because of the new commercial reality that has emerged in an accelerated manner and with the boom of telecommuting, potential buyers are more inclined to buy an individual home, which offers more privacy, than an apartment.

With the spread of covid-19, strict home quarantines were decreed in Central American countries.

Central America: Is the Real Estate Market Moving?

July 2020

In the countries of the region about 4 million people are looking to buy or rent a residential property, and 11% of these consumers, explore options to rent an apartment.

The interactive information system developed by CentralAmericaData, monitors in real time the changes in consumer habits in all markets of the region, with fundamental information to understand the new commercial environment that has emerged in an accelerated manner.

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Desarrollo Inmobiliarios 4D

We are a firm dedicated Aldesa Investment Corporation to seize business opportunities in the housing market.
Operates in Costa Rica and Costa Rica
Phone: (506) 2207-8888

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