¡It's a good time to buy a house!
According to the latest figures from Dane, real estate is appreciating at a rate of 12.3%, outpacing inflation, which is close to 7%, meaning there is a real increase. This, combined with decreasing interest rates, makes it a good time to invest in and buy housing.
According to the most recent figures from Dane, when comparing the first quarter of 2024 with the fourth quarter of 2023, the average change in the price of new homes, under construction, and the last unit sold showed a quarterly variation of 2.64%. This rate is 0.32 percentage points lower than the same quarter last year, when it grew by 2.96%.
This means that properties were not appreciating at the pace of inflation and were losing value in comparison; they appreciated by 9.5%, while inflation was at 13% in the country.
The new figures show that real estate is appreciating at 12.3%, well above inflation, which is near 7%; this means properties are starting to appreciate above the inflation rate, resulting in a real increase. This, combined with falling interest rates, such as the one from the Central Bank of Colombia, creates a good time to invest securely.
Vitrina Inmobiliaria del Caribe, VIMO, will be the best option for buying a new home in the region for three days. This fair will showcase the largest offering of housing projects, commercial, industrial, and tourism properties in the region.
Juan Esteban Pérez, Executive Director of Corferias Puerta de Oro, stated that VIMO will feature a wide selection of new housing in the region:
"VIMO is for everyone, especially for those who are not subsidized, meaning we are talking about housing for those perhaps in stratum 3 or higher, who don’t need government subsidies; we are talking about the middle class and above, but the range of options at VIMO is wide. The development of Barranquilla and the Atlantic Coast continues to be strongly marked in areas like Mallorquín, Miramar, and Alameda del Río; these are large spaces where people are finding very pleasant ways to live."
He also emphasized that they are expecting a massive turnout, with between 3,000 and 5,000 visitors interested in buying their own homes, because this time the entry to the largest real estate fair in the Caribbean will be completely free.
"VIMO is a very special space for three main reasons: first, it has all the financing options in one place; second, there are state entities like the National Savings Fund that can help people acquire their own homes; third, all the housing offerings from new construction companies will be available in one place, VIMO. So, the most important message is that, for the first time, VIMO has free entry. You can visit vitrinainmobiliaria.com, pre-register, and enter VIMO freely," emphasized the executive director of Corferias Caribe.
