Since the drop in commodity prices in 2014, Colombia’s economy has been recovering and is set to expand in 2019 and 2020. In May 2018 Colombia was invited to become the 37th member of the OECD, a positive development that should increase the country’s international political and economic prominence in the coming decades. However, challenges to ensuring Colombia’s continued economic progress remain.
With economic growth reducing poverty and increasing the size of Colombia’s middle class, government programmes are having a major impact in lowering the country’s housing deficit.
Programmes to allocate free homes to the lowest-income segments, reduce the costs of acquisition and ease access to banking credit for other segments of the population...
With plans set to modernise transport networks and government-led housing programmes expanding the availability of homes, Colombia’s construction sector remains an essential part of the economy.
Structural precaution against risk, along with an influx of investment coming from government housing programmes as well as private investors, continue to fuel Colombia’s housing market. Although government support has primarily focused on the lower-income segments of the population, the expansion of the middle class has helped move housing...
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