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.
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.
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.
From February 19th to 23rd, ExpoConstrucción 2020 will be held at the Pedregal Event Center, a fair in which real estate developers will offer houses, apartments and condominiums.
Thirteen financial entities, including public and private banks, mutual and cooperative banks, as well as the National Institute of Housing and Urbanism (INVU), the Costa Rican Social Security Fund (CCSS) and the National Insurance Institute (INS), will have financing with special conditions for ExpoConstrucción attendees, particularly for the middle class segment.
The number of available apartments in Costa Rica has increased in recent years, a rise explained by the current economic situation and the high prices of some vertical housing projects.
Although sales are still on the rise, the number of apartments available in the Costa Rican market has increased, from 888 to 1,213 between 2017 and 2018, and up to June 2019 the figure reached 1,418.
Building on own land and keeping premiums in a trust are part of the new requirements to be met by companies that market houses and apartments in Costa Rica.
According to representatives of the Ministry of Economy, Industry and Commerce, the new rules that would soon enter into force and seek to regulate term sales in the real estate sector are currently in the consultation process with interested parties.
In Costa Rica the real estate market has started to respond to the demand for lower middle class homes which typically have minimal sizes and are in buildings or condominiums.
Apartments measuring from 40 square meters for single people or small families at prices starting from $65 thousand have started to make up a large part of the real estate supply in the country, where until now there has been a predominance of real estate developments which are larger area and cost more, aimed at the middle class and upper class middle segment.