For some months now, Colombia has been experiencing a decrease in property sales. In the first quarter of the year this trend was very marked and since then, the situation has not been reversed. Find out which are the main areas of Colombia where these casualties were recorded.
The numbers of the fall in real estate sales
According to the Colombian Chamber of Constructionin the ninth month of 2024, 1,831 fewer homes were sold than those registered in the same period of 2023. The numbers become even more worrying if given a context of persistent decline that has continued since the beginning of the year.
Among some of the factors that could affect the market are, the tohigh interest rates, inflation and economic slowdown.
This leads to less initiation to start this type of projects, as well as demand. On the other hand, there are areas of the country that were more affected than others by this decrease in sales.
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Fall in housing trade: the numbers
In the list of areas we can find
1) Bogotá and Cundinamarca (-1,846).
2) Antioch (-482).
3) Magdalena (-228).
4) olive grove (-166).
5) Goal (-106).
6) Santander (-59).
7) Quindío (-1).
8) Huila (0).
(MORE: How and who can access a loan at Banco Agrario?)
Colombia experiences a significant drop in the real estate sector
Source: IStock
House sales in Colombia: how were the previous years
Although the year has not yet ended, the current situation can be compared with that of 2011/12, where worrying numbers were recorded in terms of housing. According to Camacol The figures were the following:
2011: 67,878
2012: 64,497
2014: 85,828
2016: 93,935
2018: 88,223
2020: 78,300
2022: 133,280
2024: 66,620
Concern and alert
Guillermo Herrerapresident of Camacolhas been expressing its concern for some time and asked the government to take action before the crisis in the sector deepens.
This trend, so disturbing and serious for the country, even extends to Social Interest Housing. Compared to 2023, the drop is almost 60%. An important challenge that the national Government must face where it must make quick and forceful decisions.
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