Bogotá — The increase in the value of materials and sales of the VIS segment at the end of 2021, which derived in fewer units with low prices availableinfluenced the costs of buying a home in the first quarter of 2022 in Colombia, according to a report by the real estate platform Ciencuadras.
“The sales values increased in higher proportions, those sold in VIS (Housing of Social Interest) grew 18% and in non-VIS 10%. This confirms the increase in housing prices from one year to the next by 8%discounting the growth in units”, indicates the report.
The greatest availability of properties for rent and sale was concentrated in Bogotá (30.82%), followed by Medellín (28.53%), Barranquilla (13.45%) and Cartagena (6.73%).
For prices, the greatest availability in new real estate was concentrated in the range between $100 and $300 million (39.28%)followed by between $300 and $600 million (37.91%).
They are followed by those between $600 and $900 million (13.97%), $900 and $1,500 million (4.61%), homes of up to $100 million (2%) and those of more than $1,500 million (1.75%). .
Regarding the supply of used housing, the highest percentage is between $300 and $600 million (32.75%), according to the report.
He further explains that “the availability of units was reduced by 27% compared to the previous year. This as a consequence of the large volume of sales that occurred in 2021 and the few initiations in recent months.”
In the segment of new homes, the average price is $231 million and in used homes it is $600 million.
While in the case of new apartments the prices are located at $346.2 million and used ones at $368 million.
In terms of leases, you have to the median price for houses was $4.1 million and for apartments $1.6 million.
The real estate platform Ciencuadras cites figures from the Libertador Rent Index (ELRI) to indicate that so far this year until March the price of rental fees registered a rise of 3.2% for apartments and 3.6% for houses.
Figures from Real Estate Gallery show that in the first three months of this year 63,490 VIS and non-VIS homes were marketed in Colombiaan increase of 6% compared to the same period in 2021.
“Never before in the country’s history have Colombians bought as many homes as they do now,” said the country’s Housing Minister, Susana Correa.
At the end of April, the Colombian Chamber of Construction (Camacol) warned that current steel prices would make it unfeasible to build affordable housing in Colombia.
According to Camacol, “only between February and March 2022 the price of steel registered a new increase of 4.2%with a growth of 5.7% in corrugated steel”.
“If this trend in the price of steel continues, as indicated by the reference prices in the market for April, could close the year with an annual variation of 43% in the price of this input”, he indicated.
For the builders’ union “this new increase in the price of steel puts the construction of 250,000 VIS homes at imminent riskwhich were pre-sold in the last two years and have not started work”.