Real Estate Market Outlook in Colombia: Insights from CAMACOL 2024
From November 6 to 8, CAMACOL hosted its annual event at Puerta de Oro in Barranquilla, bringing together nearly 2,000 attendees, including government officials and real estate leaders, to explore the challenges and opportunities shaping Colombia’s market.
Discussions centered on critical themes such as the importance of strategic planning and adaptability in an industry defined by long development cycles. Success, it was emphasized, hinges on anticipating market dynamics and aligning strategies with both current realities and future trends.
Julián Dos Santos, Head of Business Development for the Studio in Colombia, underscored the importance of structuring projects with a long-term perspective, optimizing time and resources to maximize value for developers and end-users alike.
Amid economic challenges, Colombia has made significant strides in reducing inflation. According to Finance Minister Ricardo Bonilla, the country’s cost of living dropped to 5.41%, down from 10.48% a year earlier, based on data from Dane.
CAMACOL concluded the conference with a call for collaboration with the National Government to revitalize the sector. The proposed plan focuses on three strategic pillars: prioritizing subsidies, fostering regional development, and promoting sustainable growth.
Regional housing programs are set to mobilize approximately 17 trillion pesos in investments over the coming years, with municipalities contributing 2 trillion pesos—a critical factor in driving local development strategies.
On the sustainability front, Colombia has partnered with the World Bank’s Edge certification to achieve nearly 17 million square meters of certified sustainable construction. By 2030, the aim is for 50% of delivered housing units to meet environmental certification standards, underscoring the sector's commitment to green growth.
The event served as a pivotal platform for exchanging ideas and fostering collaboration, further positioning the real estate market as a cornerstone of Colombia’s economic and social progress.
