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Colombia’s residential property market enjoying record pricing levels

Posted on 21 November 2012

The growth of Colombia’s real estate sector is having a strong impact on secondary housing markets. Following the rising price of new housing, used home (existing home sales) prices in Colombia have continued to increase and have now reached an historical high. According to a report by Portafolio, since the end of 2004 used housing prices have jumped 74%.
Housing demand in Colombia will likely remain strong given the current pace of the country’s economic growth and the general availability of financing. The Colombian economy is forecast to grow approximately 4.5% in 2012 and should grow more than at a healthy rate of 4% in 2013, particularly if the Central Bank does not raise the reference interest rate. ………………………………………Full Article: Source

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