Colombia | Real Estate Outlook 2021

Summary

The real estate sector has good growth prospects and will lead the country's economic recovery process. It will be driven by medium and low priced new housing. Meanwhile, higher-value housing, used housing and the non-residential sector will have a slightly later recovery.

Key points

• Key points:
• In the most recent decade, two million homes were built. Bogotá, Tunja, Villavicencio and Popayán were the cities with the highest valuation of real property.
• Construction companies are financially sound, explained by the reduction of inventories and the improved pace of housing sales.
• Housing prices are decelerating, especially in the case of used housing. Low-prices housing prices are performing better.
• Housing financing was more concentrated in new housing and, within this, in low-prices housing.
• Construction costs are being pushed up by higher prices of iron and steel.

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