Real estate analysis: New, used, and rental properties

Supply of rental properties

The highest concentration of rental supply was in the city of Medellín, with a 33.03% share. In this category, Bucaramanga and Itagüí gained relevance, making it into the top rankings.

In this category, commercial properties such as warehouses for rent in Medellín and other areas of Colombia stand out, as do lots and offices, which account for more than 50% of the country's inventory. This behavior may be due to new forms of teleworking and hybrid work in different cities, which require less physical space, increasing the supply of these properties.

Housing rental market behavior

Thanks to the Rent Index, which measures rental price volatility, a significant increase in rental fees was identified. An annual variation of 7.6% was recorded for houses for rent and 6.7% for apartments for rent, doubling last year's variations in residential properties.

Demand for properties for sale by city

At the end of the first trimester of this year, there was evidence of interest in the search for new and used housing, with Bogotá registering 28.45%, Medellín 13.31%, and Cali 8.04%. Compared to the first trimester of 2022, this represents the same trend without significant variations.

Apartments and studio apartments for sale also account for 68.53% of the market share and are the most sought-after properties in the country, both for new and used purchases.

Demand for rental properties by city

During the period from January to March 2023, interest in searching for rental properties remained highest in Bogotá with 30.98%, followed by Medellín with 18.74% and finally Cali with 8.63%. On this occasion, the city of Bucaramanga ranked fourth with a share of 4.16%.

Demand during the first trimester leaned toward searches for apartments for rent, with more than 80% of total searches including this type of property.

Finally, this analysis based on information from the Ciencuadras portal, Banco Davivienda, El Libertador, and La Galería Inmobiliaria shows us a clearer picture and behavior of the real estate sector to make more informed decisions seeking security, stability, and profitability in investments. Likewise, it is very important for us to keep our clients informed. As Inmobiliaria Alberto Álvarez, it is our duty to look after the assets of our buyers, sellers, tenants, and owners.

We hope this information is very useful to you. Stay connected to our blog for up-to-date and accurate information.

Source: Ciencuadras

Written by: Valeria Ospina – Marketing Analyst