The Mexican property portal Inmuebles24 has reported that rental searches were up 26% from May to July, while searches from users looking to buy a home were up 20%. There was a particularly big change in the number of users from 18-24 years old, as the demographic saw a 100% increase in renting or buying with the boom attributed to millennials realising that living with their parents in a lockdown situation may not be the most comfortable option.
According to the Navent owned portal, the use of videos on its listings was up by 157% over the same period and the use of virtual tours was up by an estimated 500%. The portal saw record traffic during the period from May to July as, along with property portal users from all over the world, Mexicans flock to make their lives more comfortable as the concept of ‘home’ changes. Commenting on the traffic increase and the state of the market, Inmuebles24 Director of Marketing Alejandro García del Río said:
“For us it has been a surprise to see how user activity has changed since June. Suffice to say that we have had record traffic of almost 4 million unique users and over 9 million visits. All of which leads us to believe that the real estate sector is taking steps towards a recovery.” [Translated from Spanish]