The buying a house in colombia has remained downward since 2022. According to data from the Colombian Chamber of Construction (Camacol)Only in April 2023, the sale of new housing in the country had a drop of 62%.
Despite the situation, if you find yourself wanting to purchase a new property, Keep in mind the following aspects of the real estate market.
(What the country would lose in labor productivity due to droughts).
Cheaper new apartments
In the country there are three categories for new housing: Priority Interest Housing (VIP), Social Interest Housing (VIS) and without VISwhich differ in their value and offer the possibility to their buyers of being beneficiaries of subsidies.
(Bank profits fall 42% until April).
The VIP It is the set of properties with the lowest prices on the market. The total cost does not exceed 90 current legal minimum wagesthat is, 104’400,000 pesos for this 2023.
(Government has 28 days to issue measures focused on La Guajira).
The VISOn the other hand, it is the second with the cheapest prices, since it is between 156,000,000 and 174,000,000 pesos.
In order to apply for subsidies in this modality, families cannot own another home in the country and must not have received housing subsidy benefits.
(‘Meta de Mi Casa Ya, the entire VIS offer has never been covered’).
Additionally, these people must be registered in the sisben and have 5% of the total value of the house along with a pre-approved loan.
(First semester, with marked symptoms of deceleration).
In this way, families can apply for the subsidy of the program My House Alreadythrough which they can receive up to 30 current legal monthly minimum wages (34’800,000 pesos) as an initial installment and a coverage in the interest rate of the credit for seven years of five percentage points.