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According to the results of the housing supply and demand study in Bogotá and Cundinamarca, five out of ten households currently believe that now is a good time to buy a house. 738,580 people are interested and have carried out some project search process, of which, 375,760 (50.8%) interested 18.7% of respondents who plan to purchase a new home in the next year claim to have pre-approved credit and resources to purchase. That is, within the next twelve months There is a potential demand for 70,401 homes in the region.
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Camacol B&C has been conducting research for 16 years to understand the interests and motivations of families. 47.3% of households surveyed in Bogota said that the main reason for buying a house was to receive subsidies.This is an increase of 12.6 percentage points from last year (34.7%). For 46.1% of people, the main reason is that they think the purchase is a good investment.
“These are very positive signs for the recovery of the market and the sector, as there is a latent demand of more than 70,000 homes in the short term, and their confidence in public policy and real estate investment gives us the confidence to remain objectively optimistic and committed to continuing to develop quality projects and support families in achieving their dream of obtaining formal housing,” said Edwin Chiriví, Camacol B&C Manager.
The study also looked at the price range in which they were looking for housing, finding that 64.3% of households in Bogota were interested in the VIP (20.8%) and VIS (43.5%) ranges, so Cundinamarca performed similarly, with 63.5% of households are also interested in the social housing sector (VIP: 21.0%, VIS: 42.5%).
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What you should know before buying a new property.
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on the other hand, Of the salesroom visitors surveyed in Bogotá and Cundinamarca, 48.3% said their purchases required subsidies, 22.3% had applied for some form of subsidy, and of those who had, only 46.3% were confident they would be approved.
Other interesting data revealed by the supply and demand study is that in Bogota, households prefer to learn about housing projects through specialized portals (23.9%), social networks (16.1%) and third-party recommendations (29.3%). In this region, an average of 34.9% of sales (closings and splits) are made virtually.
Depending on the location of the house, potential buyers in Bogota and Cundinamarca perceive the advantages of the project differently. The two main advantages to consider when buying a property in the capital are Convenient transportation (21.7%) and close to commercial areas (12.9%), In surrounding cities, families value safety (15.7%) and more favorable prices (14.6%) more.
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Advice from ChatGPT on buying a new home.
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For those surveyed in the Bogotá and Cundinamarca sales rooms, the capital location that most interested them in buying a house was Engativá, Suba and Fontibón. On the other hand, the top searched cities were Mosquera, Chia and Tocancipa.
“Knowing that the interests and motivations of demand present a challenge for our sector to meet the expectations of families. This is what the official campaign we represent is dedicated to: to continue contributing to quality projects for the well-being of people and regions. “Knowing that the equivalent of almost half of all families recognize that it is a good time to invest in housing lets us know that we are on the path to recovery,” Chirivi concluded.
Paula Galeano Balaguera
Portfolio Reporter
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