With the growth of the real estate sector in Colombia, Investments in real estate are boosted and are an opportunity for economic growth for the country. Figures from the Colombian Chamber of Construction (Camacol) project that by 2023 the purchase of housing will be excluded by 11%, figures higher than those of 2022 and 2021, which were 10% or less. The union association affirmed that at present there are almost 350,000 projects for new housing and another 190,000 are already under construction.
(Please note: the changes that the Mi Casa Ya program will have).
When it comes to investing safely, Colombians opt for real estate, especially housing. This type of investment can be very profitable in the long term, since the value of the property increases and appreciates over time, 4% each year, according to Dane; This allows you to have a greater profit when selling the property in the future. Benefits such as portfolio diversification to have other sources of income; the construction of a patrimony in a safe or profitable way and the possibility of avoiding economic effects due to inflation, keep investor spirit.
Laura Camargo, an expert in the real estate sector, CEO and co-founder of Brikss, a proptech that facilitates purchase and rental processes for both residential and commercial properties, It ensures that the home remains an active refuge, in which returns are obtained from valuations and long-term fixed returns.
In addition, technology becomes an ally and in the case of this proptech potential investors can tour the property virtually and from different angles to get to know it in detail and define the properties that are of interest to them.
(Step by step to access the housing subsidy Mi Casa now).
Currently the real estate market offers different options for people to invest their capital, for this there are various factors that must be taken into account such as budget, interest, expectations, needs, among other important factors to have a higher return on investment. According to the CEO of Brikss, these are the best options to invest in real estate in 2023:
1. Buy an apartment, office or commercial premises to rent, This can generate a return that ranges between 0.4% and 0.5% per month for residential properties and a little more for commercial properties.
2. Invest in off-plan properties to sell when the project is finishedand earn the valuation that the property had during the construction stage.
3. Buying a used or old apartmentbut with great potential to remodel and improve its infrastructure, this will increase its valuation and price when selling it.
4. Real estate crowdfunding, a form of financing in which a group of people invest their capital to finance the purchase of a property and earn according to their percentage of participation.
“Before investing in real estate, you should think about key issues such as a location close to points of interest, that it be an attractive space and that it serves several people depending on their needs. Today the market trend is to buy a property and lease it to earn money and recover the investment month by month, however, it is important that people are flexible and aware when stipulating a value for their property, since today nowadays properties are rented out quickly, if this is not the case it is because their price is high or there is some factor that does not attract the attention of the interested party”explains the Brikss co-founder.
The real estate sector in Colombia is expected to have a growth of 1.7% in 2023 according to the Colombian Chamber of Construction, Camacol; driven by increased foreign investment, economic growth, and political and social stability. The previous year closed with a figure of 234,592 new homes sold; which means a great interest of Colombians in the real estate market, that is, 28% more than the average of recent years.