REAL ESTATE
Real estate in Colombia is comprised of residential sectors where the segments are located
VIS and non-VIS housing , student residences and senior living, the commercial sector comprised of the segments
office, retail, hospitality and tourism, and the industrial sector consisting of business, industrial and logistics parks
THE REAL ESTATE SECTOR IN COLOMBIA IS OF GREAT RELEVANCE
- Colombia It is the third-largest destination for real estate investment projects. Between 2010 and 2019, the country registered 61 investment projects in the sector, representing 21% of the investment projects attracted in Latin America and the Caribbean. (Source: FDI)
- Furthermore, Colombia It is attracting large investors from markets such as the United States, Chile, and Switzerland. (Source: FDI)
ATTRACTIVE LOCAL MARKET WITH POTENTIAL FOR THE DEVELOPMENT OF THE REAL ESTATE SECTOR SUMMER
- Colombia It is the third most populous country and the fourth largest economy in terms of GDP in Latin America The economic performance of this country translates into a middle class with growing purchasing power, making Colombia an attractive destination for the development of residential and commercial projects. (Source: IMF)
- The country has the third-largest construction industry in Latin America, an industry that supports the development of assets for the real estate sector. (Source: Fitch Connect)
- On average, the country builds 17,8 million m2 of new land each year that can be used for real estate development. In 2019, the country licensed 23,1 million m2 for construction. Of this licensed area, 80,8% was allocated for housing, 9,7% for retail, 3,6% for offices, and 27,2% for other types of construction. (Source: DANE)
- Colombia is showing a downward trend in interest rates for home construction and purchases, which favors the development of residential projects in the sector. (Source: Banco de la República)
- There's currently a high demand for premium office space (class A+, A) in major cities, which favors project development. (Source: Colliers)
IMPORTANT STRATEGIC LOCATION FOR THE DEVELOPMENT OF PROJECTS
- Colombia has become an important destination for en Latin Americawhich has allowed the development of the hotel, commercial and entertainment sectors.
- In addition to being a tourist destination, it is also promoted as a retirement destination. According to the International Living 2020 Retirement Index The country ranks 5th as a destination for seniors. (Source: International Living 2020 Retirement Index)
INVESTMENT OPPORTUNITIES IN THE REAL ESTATE SECTOR IN COLOMBIA:
- Shopping Centers
Colombia has opportunities in the development of shopping centers. It is the most attractive country for investment in the retail sector in Latin America and tenth in the world, according to the Global Retail Development Index 2019. (Source: Global Retail Development Index 2019)
Furthermore, growing private consumption, a strong middle class, and an urban population have made it attractive for investment projects. (Source: DANE)
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- Senior Living
Colombia has opportunities to develop projects focused on secondary residences, housing, and multi-family developments for seniors due to an increase in the senior population and a low cost of living. (Source: United Nations Population Division)
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- Student Residences
Colombia's six largest cities account for 76,3% of the country's graduates. This means there is a migration of students to larger cities, which has increased the demand for construction projects of this type in these cities. (Source: Labor Observatory)
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- multifamily
Colombia has opportunities for developing affordable housing (VIS) due to government housing programs and potential price adjustments.
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- mixed use
There is a growing development of mixed-use projects in Colombia, where offices, commercial areas, and residential spaces are all located in the same space, bringing the benefits of these sectors together.
Taken from: https://investincolombia.com.co/es/sectores/inmobiliario/inmobiliario
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