Real estate buyers in Latin America are ditching the clasificados and the neighborhood inmobiliaria when it comes time to search for property, according to a new report from Google Argentina.
Buyers are increasingly more “digital”, said the company’s New Business Development Manager in a presentation yesterday at Montevideo’s World Trade Center. He pointed to the high Internet penetration rates in Latin America as one of the reasons for the half million real estate searches per hour in Latin America.
76% of those who bought real estate in Latin America last year began their search for Hogar Dulce Hogar online. Online financing and home loan searches have also surged 360% since 2008 in Uruguay, Argentina, Chile and Peru, according to the article in El Observador.
Southern Cone countries have some of the highest Internet penetration levels in Latin America including Argentina (67%), Chile (58%) and Uruguay (56%) which has the fastest and cheapest Internet service in the region, according to another Google-funded report. (Full Story in Spanish)
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