Introduction
The Colombian real estate market continues to present attractive opportunities, despite economic challenges and high interest rates that have affected home sales. For those interested in Investing in Colombian housing, the outlook for 2024 looks favorable thanks to a possible reduction in interest rates and growing demand. In this Investing Latam article, we analyze why this is a good time to consider real estate investment in the country.
Interest Rates on the decline
Positive expectations for 2024
Projections for the Colombian economy indicate that interest rates will continue to decline in the coming years, which could facilitate access to credit for those who wish to Investing in Colombian housingIn 2023, inflation began to moderate, closing at 9,28%, which allowed the Bank of the Republic to lower its intervention rate.
Financing Opportunity
With lower interest rates, commercial banks will be in a position to offer more attractive conditions for home purchases. This reduction is crucial for those looking to invest in Colombian homes, as a better rate means a lower financial cost. At Investing Latam, we help you find the best properties in Colombia. Visit our property section to learn more.
Limited Housing Supply
Minor Launch of Real Estate Projects
During 2023, home sales fell considerably, which also affected the pace of launching new projects. This situation has led to a limited supply of available units, meaning that properties purchased now will appreciate more in value in the future.
Less Competition, More Opportunities
For those who seek Investing in Colombian housing, this decrease in supply represents an opportunity. Buying now, when competition is low, will allow you to secure a property at a good price and benefit from appreciation in the medium term. Explore our portfolio of off-plan housing and take advantage of these opportunities.
Growing Demand in the Future
An Expanding Market
Despite the drop in sales during 2023, pent-up demand in the Colombian real estate market is expected to increase in the coming years. More than 2.3 million Colombian households have stated that they have the capacity to save and are interested in buying a home in the near future, which will create strong competition in the market.
Opportunity for Valuation
If you decide Investing in Colombian housing Now, you can take advantage of increased demand in the coming years when interest rates will fall even further and supply will be limited. This is the ideal time to purchase properties with the intention of selling or renting them out when the market is more optimistic. Visit our Blog for more information on real estate market trends.
New Housing Valuation
Price Increases in 2023
Despite the uncertainty, housing appreciation in Colombia remains strong. According to the Dane New Housing Price Index, the sale prices of apartments and houses increased between 11% and 12% in 2023. This increase reinforces the value of Investing in Colombian housing, since long-term appreciation is practically assured.
A Safe Investment
With inflation under control and economic recovery underway, real estate in Colombia is well positioned to continue increasing in value in the coming years. This is a unique opportunity for those looking for a safe and profitable investment in the real estate sector. Visit our about us section to learn more about how we can help you invest in the country.
Conclusion
2024 is a key year for Investing in Colombian housingWith falling interest rates, limited supply and growing demand, investors who act now can enjoy significant appreciation in the years to come. At Investing Latam, we offer you the best options to maximize your real estate investment.
If you are ready for Investing in Colombian housing, visit our property store or contact us for more information. Follow us on instagram and LinkedIn to stay up to date with the latest developments in the real estate market!
