The developer 3 Torres plans to build a residential tower of 10 levels that will house 40 apartments, the building will be located in the municipality of Santa Tecla, El Salvador.
Representatives of the business group that will invest in this housing complex informed that the new residential project is called Trib Apartamentos, and will be located at 14 avenida norte, Finca San Rafael, in the city of Santa Tecla, department of La Libertad.
Through solutions based on the analysis of satellite photos and machine learning models, it is possible to optimize the process of identifying the best land uses and analyze the areas where a construction project will be developed with a high level of detail, in order to find the optimal location and minimize investment risks.
The accelerated growth in the availability of data and the solutions and technologies being developed to take advantage of it is directly impacting all industries, and the real estate and construction industry is no exception.
During the first four months of 2021, interest in apartment rentals, as evidenced by the number of Internet searches and mentions in conversations in the digital environment, increased in all Central American markets.
Through a system that monitors in real time the changes in the interests and preferences of consumers in Central American countries, developed by CentralAmericaData, it is possible to project demand trends in the short and long term, for the different products, services, sectors and markets operating in the region.
During the first weeks of the year, interest in apartment rentals increased in Honduras, Panama, Dominican Republic and Guatemala, a situation that contrasts with Costa Rica and El Salvador, markets in which interactions in the digital environment decreased.
Through a system that monitors in real time the changes in the interests and preferences of consumers in Central American countries, developed by CentralAmericaData, it is possible to project demand trends in the short and long term, for different products, services, sectors and markets operating in the region.
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.
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.
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. This scenario encouraged the implementation of telecommuting and forced companies to adapt to new forms of operation.
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.
Entrepreneurs in the real estate sector estimate that in the Panamanian market the prices of homes in inventory could fall between 5% and 10%, due to the economic crisis resulting from the outbreak of covid-19.
Although the construction industry is currently paralyzed because of the health emergency and the supply of new housing is not increasing, entrepreneurs anticipate a fall in the prices of residential property.
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.
Although at the beginning of the covid-19 outbreak in all the markets of the region the interest for the rent of apartments of residential use diminished, at the beginning of April the fall stopped and in some countries an incipient rise is reported.
Through a system for monitoring changes in consumer interests and preferences in Central American countries in real time, developed by CentralAmericaData, it is possible to project short and long-term demand trends for the different products, sectors and markets operating in the region.
In the country's metropolitan area, nearly 16,000 homes are being built, most of which are apartments and will be available in the coming months.
The good numbers for the construction sector in the country will continue in the coming months, since currently 112 real estate projects are being developed in the department of Guatemala, which will increase the housing supply in the next three years.
After the Preferential Interest Act was modified and the maximum limit for applying preferential interest to the purchase of homes was raised to $180,000, an 11% decrease in the inventory of available homes was reported.
About 60% of the apartments in the district of Santa Ana, Costa Rica, have prices per square meter that range from US$1,500 to US$2,000.
An analysis of the real estate supply by area, prepared by the Trade Intelligence Unit of CentralAmericaData, shows interesting results on the behavior and distribution of prices per square meter in the sector of Santa Ana, in the province of San José.
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).