Alert over housing prices in Colombia: it is among the highest rising in the world
The price of housing has become one of the most determining factors when deciding where to live. Beyond variables such as traffic, safety, or job opportunities, the cost of buying or renting a property weighs increasingly on household budgets.
TL;DR
- The price of housing is a key factor in choosing where to live.
- Colombia ranks sixth globally for the largest increase in housing prices over the last decade, according to OECD data.
- Colombian housing prices have risen approximately 53% since 2015.
- Countries with higher housing price increases than Colombia include Turkey, Lithuania, Ireland, Slovenia, and the Czech Republic.
- Turkey has experienced the most extreme price surge, with an index over 1,900, largely due to high inflation and currency devaluation.
- Despite the extreme case of Turkey, Colombia's housing price increase is still one of the highest among OECD economies.