TuHabi to Invest Millions in Guadalajara’s Housing Market

The Colombia-based property technology (proptech) company TuHabi plans to venture into Guadalajara's housing market. It announced an investment of US$13.06 million to consolidate its business model in the city’s metropolitan area. 

According to the company, Guadalajara represents an opportunity as the city offers developed infrastructure because of its consolidated position as a commercial and logistical hub. The area also draws attraction from both national and international real estate investors. TuHabi said that its investment will be used for the acquisition of already-constructed properties in Guadalajara city and its surroundings where the company plans to market 800,000 units, which is over 70 percent of the apartments in the housing market in the area.

TuHabi considers Guadalajara as one of its main markets in Mexico. “Our focus on data and technology aims to serve people in the decision-making process regarding their properties,” said Gerardo Fernández, Director General, TuHabi.

The company plans to invest in some areas of Zapopan, Tlajomulco, Tlaquepaque, Tonala, and El Salto, too. TuHabi highlights that it targets properties valued between US$73,000 and US$157,000, which will make it easier for the company to trade. 

TuHabi has pushed for the incorporation of new technologies in the housing sector, not known to incorporate technology in its daily operations. The company believes that innovation could increase the sector’s economic value by facilitating procedures for house sales, which in Mexico are difficult and time-consuming. “We have a major problem in Mexico, as we do not possess the information to successfully buy or sell a house. We are building the required infrastructure to make house trading quicker and easier,” Fernández added. 

The housing sub-sector is expected to contribute the least to the construction industry’s GDP, due to the low demand for new houses. Companies have therefore focused on second-hand houses that are forecasted to gain a greater market share since the demand for such products is growing, as reported by MBN.