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Colombia Real Estate Boom

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Residential, office and industrial space are all seeing strong growth, spurring strong construction activity.

BY CHRONICLE STAFF

Thanks to increased local and foreign investments, coupled with improved security, Colombia is seing a major real estate boom.

"Last year was one of the best years ever and the expectations are for continued strong growth this year," says Guillermo Gomez, regional director for Century 21 in Colombia.  The real estate company itself is an indication of the growth - it was started last year to meet the growing demand in the sector. Gomez is a 25-year veteran of Colombian real estate.

Also, Colliers International reports strong growth. "We have seen an increase in demand and prices," says Andres Rojas, director of marketing and operations at the Colombia office of Colliers International.

Despite increased interest rates aimed at reducing inflation in the fast-growing Colombian economy, the construction sector last year saw a..

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