According to him Fincaraiz.com studybetween January and March 2023 house rental prices increased by 7% and apartments by 6.7%.
The cities with the most expensive rents are Btear off, with an increase of 7.8%; Medellin, with an increase of 7.5%; and Bogota and Cartagena, with 7.3%.
At the same time, Buying houses on the used market rose 8.33%. And that of apartments increased by 0.54%.
«The median sale price of a new apartment from January to March 2022 was 346’19,433 pesos, by the end of the same period of 2023 an increase of 39’905,067 pesos was increased», added the study.
(See: When renting a property, who should be responsible for the arrangements?).
Other data that corroborate the upward trend are those obtained by the Colombian Federation of Real Estate Markets (Fedelonjas).
The entity revealed that Medellín is one of the cities in which it is more expensive to pay a rent: a tenant could pay $23,028 per square meter living in stratum three.
(See: Inflation: public services fell and rents continue to rise).
This rise is the product of “the pandemic. At that time the demand began to grow, and the supply was not enough. Likewise, landlords have opted for a segment dedicated to ‘short-short’ rent, which means that they rent places for short periods of time in tourist areas and is generally charged in dollars, so there may be an increase”, explained Martín Monzón, CEO of the Fincaraiz.com platform in the report.
(See: Rate hike pushes rentals of used housing).
Another piece of information from the Fincaraiz.com report is that: “there is a strong demand for apartments and studio apartments”.
Bogotá, Medellín and Barranquilla are the cities with the greatest real estate offer in this segment.
(See: Rents and transportation will keep inflation high.)