The rise of the online real estate sector: Mexico at the forefront
The real estate landscape, both in Mexico and around the world, is undergoing an unprecedented digital transformation. The adoption of online platforms for searching, buying and selling properties has skyrocketed in recent years, driven by factors such as the greater convenience and accessibility offered by these tools, the growing familiarity of the public with digital technologies and the need to adapt to new post-pandemic realities.
The online real estate sector in Mexico is booming and more and more people are searching for and buying properties online, thanks to the convenience, accessibility and transparency offered by digital platforms.
In this article, we tell you everything you need to know about the online real estate market in Mexico:
The latest trends in the sector
- Exponential growth of the PropTech market: The global PropTech market is expected to reach a value of USD 1.7 trillion by 2025, with a compound annual growth rate (CAGR) of 16.2% during the period 2020-2025.
- Increase in visits to online platforms: Mercado Libre Inmuebles reports a 24% increase in visits to its platform during the first two months of 2024, compared to the same period two years ago.
- Adoption of digital tools: Virtual visits, electronic signatures and other digital solutions have become essential elements to maintain market activity.
The most relevant market data
- According to Infonavit, interest in purchasing a home grew by 12.9% in 2023.
- 74% of internet users in Mexico search for properties online.
- 65% of home purchases in Mexico begin online.
The keys to buying or selling your property safely and efficiently
- Choose the right real estate platform: Research and compare different platforms to find the one that best suits your needs.
- Create an attractive profile: Include quality photos, a detailed description of the property and all relevant information.
- Use search tools: Filter results by location, price, features and other specific criteria.
- Contact an expert real estate agent: An agent can advise you throughout the entire buying or selling process and help you get the best price for your property.
- Be realistic with your expectations: Research the local market to find out the average prices of similar properties.
- Make informed decisions: Compare different offers and don't rush into a decision.
Adapting to the new reality of real estate
The COVID-19 pandemic has accelerated the adoption of digital tools across all industries, and real estate has been no exception. Virtual tours, e-signatures, and other digital solutions have become essential elements to keep the market active during restrictions and social distancing.
For real estate experts, this new landscape presents both challenges and opportunities. It is essential to stay ahead of the latest technological trends, adopt new digital tools and strategies to reach a wider audience and offer a superior user experience. Those who successfully adapt to this new era of real estate will be well positioned to thrive in the market of the future.
