Are fewer and fewer homes being built in Medellín? The reasons for rising rents in that city

TL;DR

Medellín has the most expensive rental prices in Colombia.
A 64% drop in construction licenses per capita between 2015 and 2024 has slowed housing development.
Limited availability of urbanizable land restricts new housing construction.
The majority of new housing is aimed at medium and high-income individuals (No Vis), creating a gap for lower-income households.
Increased interest rates for mortgages make homeownership difficult, increasing demand for rentals.
The housing supply is rigid and not adequately meeting the demand for smaller or more affordable units, especially in well-connected areas.

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