Medellín, among the cities where used housing appreciates the most
Although Bogotá and Medellín are the metropolises with the greatest development in the national economy, thanks to the number of companies, industries, and people they concentrate...
TL;DR
- Armenia, Cali, and Pereira are projected to have the highest appreciation for new housing in 2025, with rates of 15.7%, 14.1%, and 12.5%.
- For used housing, Pereira leads with 11% appreciation, followed by Manizales (10%) and Medellín (9%).
- The average price per square meter for apartments is $5.19 million and for houses is $4.45 million.
- Investments in real estate, particularly housing, are seen as a way to build wealth, as mortgage payments transform into capital.
- Monthly mortgage payments should not exceed 35% of income for financial stability.
- Paying an initial down payment can be spread over 12, 24, or 36 months for new housing.
- The construction sector faces challenges including increased material costs and the impact of the minimum wage.
- In the first three months of the year, Metrocuadrado recorded over 27 million property searches, with 52% for rentals and 48% for sales.