The real estate sector has supported Colombian households even in difficult times: Fedelonjas
Mario Andrés Ramírez Peña, executive president of Fedelonjas. Photo: Courtesy
TL;DR
- The Colombian real estate sector has experienced over a decade of positive growth, contributing significantly to the national GDP.
- New housing construction is slowing, with a 23% cancellation rate in projects and a sales drop in the first quarter of 2026.
- Renting has become the main form of housing tenure in Colombia for the third consecutive year, with 40.4% of households renting compared to 39.6% owning.
- The majority (56%) of rental contracts are verbal, a figure that rises to nearly 96% in lower income brackets.
- Rising interest rates, attributed to inflation and a significant minimum wage increase, are making mortgage access difficult and impacting consumer confidence.
- Fedelonjas proposes three priorities for the next government: reactivating the 'Mi Casa Ya' subsidy program, implementing subsidies for down payments and used housing, and focusing on social rental programs.