The COVID-19 pandemic has impacted the day a day of all the people around the world, from our work schedule to the family interactions. Therefore, it is not a surprise that the economy got impacted too. However, many sectors like the real estate industry had adapted themselves to meet the expectations of the market, which now has changed its necessities.
For example, a now many real estate companies are focusing in attracting digital nomads, especially millennials, who are the population who are searching for a better place to live while their work allows them to be wherever. Although, one of their new requirements is that they need a property where they can have a good internet connection an extra room for the home office scheme. As well they need a house where they can ensure the reduction of the cost of living or somewhere they can continue building a good networking among their neighbors or the general community.
“Today the evolution is to offer coworking spaces, spaces for creativity, because more and more people are going to need it”, said Mateo Turanzas, the Director of Innovation and Digital Transformation of the real estate Quiero Casa.
Likewise, he has considered that 2021 will be another year of growth and full of opportunities for the sector even with the challenges that the health crisis and the economic contraction continue to impose.
He also explained that the fact that the segment of up to 2 million pesos grew 32% in 2020 compared to 2019 was surprising.
Also, he described that technology use increased and customer behavior changed. The search for housing is done mainly online, virtual tours are an essential factor for a successful sale closing, in addition, the procedures are practically done digitally.
Regarding the strategy the real estate company has used in the last years, Turanzas shared that Quiero Casa is analyzing the issuance of its second Development Capital Certificate (CKD) with the possibility of launching it by the end of 2021 and beginning of 2022.
In 2017, the real estate company placed a CKD on the Mexican Stock Exchange for 3,000 million pesos, resources that it has used to finance its housing projects in Mexico City.
In summary…
With this knowledge about the new normality, the real estate market must reinvent itself. It needs to adapt the spaces according to current needs and advertise with competitive prices.
Large national companies would be expected to invest more in Mexico. Some foreign companies turn to see the real estate in our country and have even opened businesses, offices or recreation centers; even many people have moved, because the transfer to the office is not necessary. A transformation in the real estate market would not only change the lives of people who need a suitable housing for their work and housing needs. The opening to credit and the readjustment of prices would also contribute to the development of other industries and the economic growth of the country