Mexican iBuyer TuHabi Expands Operations into Querétaro

Tu Habi has opened up operations in the city of Querétaro in central Mexico as part of a 100 million pesos ($5.4M) expansion plan.

The iBuyer confirmed the news after closing credit lines with banks Banorte and BBVA Spark.

Tu Habi says it moved after spotting an opportunity to introduce a new way of buying and selling property in Mexico, where sales can take up to 10 months to complete. Tu Habi's offering, by comparison, aims to buy a property in as little as 10 days.

Gerardo Fernández, country manager for Mexico at Tu Habi, said:

“Querétaro is a state that we like very much because of the enormous potential it has to consolidate itself as one of the most important real estate centers in the entire country.”

Tu Habi already operates in Mexico City, Monterrey, Guadalajara, and Toluca. It is a subsidiary of Colombian startup Habi, which raised a credit line worth $6.3M from Bancóldex in January 2023.

Mexico continues to be one of the most invested in real estate markets in the world, with a string of high profile expansions and innovations from other South American countries arriving in recent years given the attractiveness of the market to foreign investors.

Names including La Haus and Aptuno (Colombia), Quinto Andar and Loft (Brazil) and Houm (Chile) have all expanded operations organically and through acquisitions.