According to the Colombian Chamber of Construction (Camacol), the construction sector in 2023 didn’t close with the best results. Approximately 38 thousand households had to give up purchasing their home, this was 62.9% more than in 2022. For 2024, real estate experts in investment highlighted four reasons why is a good idea to buy your own home in the near future.
Fabian Zuluaga, Project Manager in Architecture and Concrete, and Jenny González, Senior Vice President of Investments at Nexus Investment Banking presented the key aspects about investing in real state at the panel “The True Face of the Future of Business and the Construction Sector”. They made an emphasis on the importance of motivating housing investment and getting to know the dynamics of this sector, as they consider it is crucial for economic development and quality of life.
According to Fabián Zuluaga, the construction industry typically goes through cyclical periods due to the current macroeconomic adaptation. This industry has been growing for the last 30 years and currently there are positive changes in regards of supply, access and confidence. All of this promotes a favorable investment environment allowing families to fulfill the dream of owning their own home.
The experts are advising to make a plan to buy your own home based on the following recommendations:
1. Reduced interest rates and material costs: The Bank of the Republic announced the reduction of interest rates for housing purchases in the country. This will provide greater capacity for financing and improve sales for current projects. Additionally, reduced costs of construction materials will represent a benefit for project developers and will impact positively the value of properties.
2. Shielding against inflation: The infrastructure industry is currently shielded and protected against the effect of inflation. This will create a significant appreciation in the properties and will improve the return on the investment, according to the Nexus Capital investment fund. The presence of capital funds, trust companies and financial allies have a part of their portfolio fixed on housing and benefit those interested in housing with products that are valued and paid into the assets of families in Colombia.
3. Sustainable projects: Sustainable certifications have increased in real estate projects due to the industry’s concern for the environment, as well as the implementation of practices, inputs and materials that are more environmentally friendly.
For more than 4 years, Arquitectura y Concreto has had a policy that all its projects must have sustainable certification (CASA Colombia, EDGE, LEED). This also impacts savings in water and energy resources, as well as the generation of a carbon footprint and on the rate given to whoever will purchase the home, translating into an economic benefit for the investment.
4. Buildings tailored made for new needs and lifestyles: With a perceived transformation of society, developers have understood that the needs have evolved and changed. Therefore, housing projects are building 15-minute cities that offer commercial and recreational options, creating a significant impact on the quality of life of its residents.
Cities such as Medellin, Barranquilla and Cartagena are improving their urban processes that are bringing renewed public services, mobility and recreation to the new urban centers and housing complexes, therefore, when you purchase your home you are acquiring all the comforts for a good life.
