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May 23, 2023
The real estate market is undergoing significant change, reflected in people's growing interest in searching for apartments to rent in new areas of the city. In fact, the Fincaraíz portal found that searches for rentals have increased by 27%, while those for sales have risen by 5%.
According to figures shared with El Colombiano, during the first four months of this year, Laureles received more than 230,000 searches, San Antonio de Prado more than 174,000, La Candelaria 157,000, Rodeo Alto 128,000, and El Poblado 123,000. These figures make these areas of Medellín the most sought-after for renting properties.
San Antonio de Prado has proven to be the most attractive area for apartment rentals. According to Fincaraíz, it had more than 153,000 searches, putting it above apartments for rent in Laureles and La Candelaria.
On the other hand, the central-western area ranked first in searches for studio apartments for rent in Laureles, followed by La Candelaria, Rosales, and Nogal.
In the housing segment, Laureles continues to register the highest number of searches with a total of 23,000, followed by Rodeo Alto with 13,000. There is also significant interest in rental properties in El Poblado, with a total of 10,000 searches.
Likewise, there is a significant number of queries regarding availability in the municipalities of Envigado with 638,000 searches, Bello with 384,000, and Sabaneta with 381,000.
What is the trend by socioeconomic level? Taking into account the dynamics by socioeconomic level, for the Fincaraíz portal, the rental value factor is the main differentiator for middle-class people to prefer to search in socioeconomic levels 3 and 4, since properties in higher socioeconomic levels have a large difference in rental value.
Most properties in stratum 3 are in the range of $1,400,000 to $1,500,000; in stratum 4, from $3,000,000 to $4,000,000; in stratum 5, between $3,000,000 and $5,000,000; and in stratum 6, up to $8,000,000.
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On the other hand, apartments, studio apartments, and houses are in higher demand when located in socioeconomic class 3, while those looking for a room mainly do so in socioeconomic class 4. As explained by the website, "Socioeconomic class 4 accounts for the majority of rooms available for rent in the city, with 37% of the supply. This means that those looking for a room find it easier to find a wider variety in stratum 4." Finally, demand for housing in the capital of Antioquia has remained strong, with seven out of ten searches being for rental properties.
The rental segment is not only growing, but also showing a clear preference for new emerging areas in the city. Areas that were not previously in high demand are now attracting the attention of those looking for properties to live in. This trend may be driven by the search for a balance between quality of life and affordability, which has led many tenants to look for neighborhoods that offer a good level of comfort without the high costs associated with the more established areas of the city.
Written by: Valeria Ospina – Marketing Analyst
Source: Fincaraíz – El Colombiano
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