It is estimated that Mexico will reach 65 million Internet users this year. This is having a significant effect on the real estate market.
According to Lamudi’s research, 82 percent of consumers now use the Internet in their real estate search process, as they move away from traditional methods and turn to desktops and laptops, as well as mobile devices, to search for properties.
In the last quarter of 2014, the number of online real estate queries in Mexico grew by 25 percent from 2013, according to Google Analytics.
This access is causing house-hunters to become more specific and analytical in their search for property. The ability to reduce time and optimize each search through the filtration of location, property type and price, is encouraging consumers to move online.
Globest – Officials from Equity International, a privately-held investor that helps build real estate companies outside the US, say they and several partners have closed a new investment in Grupo Acosta Verde, a family-owned developer, owner and manager of shopping centers in Mexico.
Sentido Comun – Homex, the housing construction firm that failed to pay debts two years ago, reached an agreement with the Institute of National Housing Fund for Workers (Infonavit), the agency that grants Mexico’s highest number of mortgages, to re-engage in mortgage finance programs.
Sentido Comun – Fiber Terrafina has completed the sale of $101 million in reserves of land and industrial buildings as part of its strategy to recycle its capital. The company will use most of the proceeds for the payment of debt.
Sentido Comun – Grupo Empresarial Angeles, the health, finance, communications and tourism business conglomerate of the Vazquez Rana family, said its subsidiary Real Group Tourism, or TSO, will invest $220 million to open four new hotels in Mexico in the next two years.
Sentido Comun – Grupo Aeroportuario del Centro Norte, or OMA, announced the opening of its first warehouse at Monterrey International Airport as part of an alliance with Vynmsa Real Estate Development.
Bloomberg – The first Mexican homebuilder to offer new shares since 2004 is testing investor appetite for an industry that imploded in $2.6 billion of defaults just two years ago. Servicios Corporativos Javer plans to raise as much as 3.5 billion pesos ($227 million) in an initial public offering after dodging the meltdown with a strategy of building housing developments in urban areas instead of far-flung suburbs.
Sentido Comun – Vesta Real Estate Corp., a company dedicated to the construction, management and leasing of warehouses and distribution centers, secured a loan for $47.5 million with Metropolitan Life Insurance Company, or Metlife, to fund its growth plans.
Sentido Comun – Sare Holding, a housing construction company that has suffered various restructurings, announced that construction will start on eight projects after it restructured a $32.9 million loan with HSBC.
Sentido Comun – MRP a specialized investment fund for buying land for shopping centers or commercial property, said that along with an unidentified partner, it is investing 614.6 million pesos $40.8 million) to build four shopping centers in Mexico City.
Sentido Comun – Medica Sur, an operator of hospitals and health services provider, said it will invest 800 million pesos ($53.2 million) to build a 22-story tower of clinics and medical offices as part of the Southern Medical City.
Sentido Comun – Fibra Macquarie, a specialized property management company, said it had acquired an industrial property, Class “A” Ridge Property Trust, n Monterrey for $ 58 million, excluding transaction costs and taxes.
Sentido Comun – Banco Nacional de Mexico, or Banamex, signed an agreement with the Institute of National Housing Fund for Workers (Infonavit) to open 42 mortgage centers in 30 states to attend to members of the institute.