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ARE REAL ESTATE PRICES IN COLOMBIA OVERVALUED?

****Article original posted in spanish in October/2008


It seems somewhat repetitive, but it’s inevitable that we continue to discuss this issue. Journalists in Colombia criticize themselves because the only subject they write about in their columns is President Uribe. Likewise, as entrepreneurs, the most talked about subject is the current financial crisis. The typical question posted on any forum is: To what affect will the global crisis have on the Colombian economy? Some say that there will be no affect; others say there will be a small amount of affect and so on. I believe that it definitely does have an affect, for the simple reason that Globalization arrived some time ago and for better or worse our country is riding that wave. The measure of damages, according to each sector, will depend on the way you look at it. As for the real estate sector the question is: How will all this global Pandemonium affect the Colombian real estate market?


A way to analyze this is by looking at whe…