COLOMBIA - For the Colombian Chamber of Construction (CAMACOL), 2020 is expected to be a year of greater dynamism in the new housing market, due to a better perspective of the economy and the importance of social housing programs led by the National Government.

Also favorable are the positive financing conditions for investment in housing and a gradual recovery of the intent for housing purchases by the market. Under this scenario, the guild projects that 192,740 housing units will be sold by 2020, which will mean a 5.2 percent growth.

The middle segment will be the one that will register the most dynamism in 2020, given its contracting phase of the years 2017 and 2018, and it is projected that it will reach a 7.5  percent  annual increase, which will lead to 58,221 new homes on the market. Subsidized housing will continue to grow and consolidate as the main segment of the market, and for this an annual variation of 5.6 percent is expected, which will mean 116,089 new homes. The high-end segment will register an additional adjustment of 4 percent, reaching 18,430 homes sold.

“By 2020 the building sector and the construction of housing projects will play an important role in economic and social development. Our projections show that we will continue to consolidate ourselves as a thriving sector that, in addition to contributing to the competitiveness and growth of the country, contributes to the social transformation of Colombians,” said Sandra Forero Ramírez, CEO of Camacol.