Real Estate: The Best Investment Despite the Rise of the Dollar

The dollar continues to reach historic levels in our country. On July 13, 2022, it was trading at 4,563 pesos, one of the highest values in recent days, even surpassing the levels seen during the crisis caused by the pandemic in 2020.

This economic situation has led to the devaluation of the Colombian peso, which may negatively affect citizens due to price increases in some of the products we use daily. For example, this situation raises the cost of imports, resulting in higher prices for products such as makeup, clothing, vehicles, cell phones, and computers.

Likewise, as stated by David Rubiano, an economist from the Industrial University of Santander and a specialist in Financial Management from Sergio Arboleda University, “it is important to know that there is a percentage (20% according to DANE) of items in the family basket that are imported.” For this reason, products such as cereals and their derivatives, some fruits, red meat, and dairy products will be affected.

This is also due to the importation of agricultural inputs. As explained by Jorge Bedoya, president of the SAC, “if this trend continues, it means higher production costs for our producers, which creates uncertainty in planting decisions and may impact food supply by the end of the second half of 2022 or even the first half of 2023.”

Fortunately, and so far, the real estate sector has not been affected by the rise of the dollar. This shows that buying apartments for sale in El Poblado and commercial properties for sale in Medellín and throughout the metropolitan area continues to be one of the most stable and secure investments in the market. It is worth highlighting that the pre-owned properties in the portfolio of Alberto Álvarez Real Estate help provide greater confidence to buyers and sellers due to price stability and market-aligned values, in addition to the support and guidance we offer. It is also important to note that new properties may see price increases, as construction companies have been affected by the rising cost of materials.

For many other sectors, this situation has become an economic relief. Exporters of Colombian products have benefited from receiving more money for their goods. Tourism has become more attractive, as visitors can receive more Colombian pesos for their dollars. Even purchasing apartments for sale in Medellín from abroad is an excellent option for foreigners considering investment.

At Alberto Álvarez Real Estate, as intermediaries, we will continue working to improve the quality of our services, providing peace of mind and support to all our clients. We have five offices throughout the Aburrá Valley and now also in Eastern Antioquia with our new digital real estate platform. We are at your disposal with all our services.