2021 was dubbed “The Year of Housing” by Colombia’s Ministry of Housing, with 227,000 new homes sold, marking a 28.6% increase from 2020. These figures are precisely what Vecindario, a startup revolutionizing and simplifying the home-buying process, aims to boost.
“Our obsession is for every family to have a home,” is a statement proudly displayed across Vecindario’s office, and it’s more than just words. Founded approximately three years ago, Vecindario joined the ranks of Colombian startups like Platzi, Rappi, and Laika by being accelerated by Y Combinator in December. The company has wholeheartedly embraced its mission.
To date, Vecindario has facilitated the sale of approximately 3,000 homes, 72% of which were purchased by middle- and lower-income families, generating over 55 billion pesos in transactions. With a team of 92 dedicated employees, the startup operates in Colombia’s major cities and collaborates with the country’s seven largest banks, more than 500 real estate projects, Protección as a pension fund partner, and two of Colombia’s largest compensation funds. They’re also working towards expanding into Mexico, the United States, and Ecuador.
“Buying a home is a beautiful and exciting process,” says Felipe Restrepo, Vecindario’s CEO. He emphasizes that one of the most fulfilling aspects of Vecindario’s work is helping thousands of families achieve the dream of owning their own home. After the most challenging years of the Covid-19 pandemic, this dream has taken on a new significance. “The pandemic made people realize the importance of their homes—it’s not just a place to sleep anymore,” Felipe explains.
Vecindario not only creates personalized purchase plans tailored to individual needs, guiding buyers step by step through a simple and digital process, but also sees home buying as a financially sound decision. To that end, they’ve established a “business school” to help people understand the home-buying process as an investment, learn how to generate additional income to cover mortgage payments, and explore opportunities in the real estate market.
