Residential Sales: How do Preferences Change?

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.

Tuesday, August 18, 2020

With the spread of covid-19, strict home quarantines were decreed in Central American countries. This scenario encouraged the implementation of telecommuting and forced companies to adapt to new forms of operation.

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

Oscar Sequeira, vice-president of the National Association of Home Builders (Anacovi) in Guatemala, explained to Prensalibre.com that "... people are looking for larger spaces, gardens, illuminated and ventilated areas, among others."

In the last five years, the trend in the Guatemalan metropolitan area was to move from individual homes to apartment buildings with the aim of getting back to the city. However, with the changes in people's habits caused by the covid-19 outbreak, the trend was reversed.

Check out the "Feasibility studies of real estate projects" that we carried out at CentralAmericaData.

Regarding residential property sales, Juan Carlos Salazar, president of Anacovi, explained that "... the demand for housing is recovering fast, and there is also interest from banks in granting loans, that is, there is capital available."

Studies by CentralAmericaData show that at the end of the first half of 2020 in Central America nearly 4 million people were looking to buy or rent a residential property over the Internet, and 18% of these consumers were exploring options for buying an individual home.

The interactive information system details that as of June of this year and at a regional level, more than 350 thousand consumers were trying to buy an apartment in the digital environment.

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More on this topic

Real Estate Market: What Does the Consumer Want?

November 2020

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.

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.

Home Sales: Lights, Shadows and Predictions

July 2020

Although the Guatemalan economy has almost stagnated in recent months, during the first half of the year the number of loans granted for the purchase of residences grew 3%, and by 2021 it is predicted that sales could be similar to those of 2019.

The social distancing measures and the prohibition of several economic activities decreed by the authorities due to the covid-19 outbreak, caused considerable negative effects to the Guatemalan real estate market.

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.

Real Estate Fair: $180 Million in Business Agreed

September 2019

At the Expo Capac in Panama, 2,100 homes were sold, and mortgage transactions for nearly $180 million were achieved, surpassing the projections of the organizers by 50%.

This year was attended by 400 exhibitors who presented some 600 real estate projects and the support of 14 mortgage banks, public and private, which closed buying and selling procedures with thousands of visitors who came together during the five days of the fair event, reported the Panamanian Chamber of Construction (CAPAC).

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NAI Costa Rica

NAI Costa Rica is the representative of NAI Global in Costa Rica and Central America, leaders in real estate consulting services worldwide; with 380 offices in 55 countries around the world.
Operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama
Phone: (506) 2228-7760 - (506) 2289-8075

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