Bogotá is ranked as the sixth best city in Latin America to do business according to the América Economía magazine. Good corporate environment with an strategic location in the continent; there are currently more than 1,500 foreign companies in the city.
As the country is putting the past behind it with the end of the conflict, Colombia is looking to attract investors to help it rebuild its infrastructure ranging from airports and roads to ports and schools. The National Government housing program gives priority to displaced families and families that live in extreme poverty, the program intends to deliver 100 thousand homes by the end of 2018.
“Colombia’s largest bank Bancolombia lowered the interest rates on its mortgage offerings by up to 150 basis points. According to the Medellín-based financial institution, this move means its rates now start at 0.76% monthly, or 9.6% on an annual basis. The bank said that these reduced rates apply for both new and used home financing, including mortgages offered under the Vivienda de Interés Social (VIS) program.” FINANCE COLOMBIA. 09/06/2017
“There is a great potential for buyers and that is why we should be developing new projects, however, there are only 5,500 social housing and priority offers, and it is very little”
Elsa Noguera, Housing Minister
Who urged entrepreneurs to compromise to build 36,000 VIS (Low Income Houses).
In the April – June 2017 quarter they registered 21.636.493 m2 under construction for housing with an anual variation of 6,6%. In the April – June 2016 they 20.291.270 m2