Medellin Real Estate

whitewidow says on Nov 9, 2009, 12:57:

a big index used in the usa is new housing starts or permits to build. this is a strong indicator of a slow down or increase.

Looking for love....

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maritime04 says on Nov 9, 2009, 13:44:

WOW.....thank you a positive real estate report from a truly impartial source, THANK YOU. So let me get this stright, you are giving us a report written by your bussniess, which says this(Colombia) real estate market will not suffer from a downturn like the rest of the world. and that his report was written by a real estate broker, and handed out by a real estate agency. YOU ARE SERIOUS, like this is not a joke you actually stand by this?

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Cali2005 says on Nov 9, 2009, 14:07:

WOW Maritime take some time to read the report. You will notice that Medellin along with the Colombian government is in an aggressive program to deliver 15,000 new homes, which they have pushed halfway through. The shift of buying has moved quite a bit to the lower and middle income classes.

If it wasnt for government subsidies there is no doubt that the numbers would be lower. The Colombian Government has really good timing with these government subsidies. Of course your not going to see these subsidies as much in richer neighborhoods, but the big push to deliver 15,000 new homes in a 2 year period is definately helping the economy and people in Medellin that are less fortunate.

Many new middle income homes have been built in Belen, while the VIS homes have been built up in the Robledo neighborhood. The largest housing developments in Medellin.

There is no doubt that sales are lower this year in certain areas, but other nieghborhoods are booming, like Belin and Robledo. I would like to get some numbers on new housing starts, or building permits as whitewidow mentioned.

These numbers come straight from the Lonja association in Medellin, which governs real estate business in Medellin.

I just pass on information as i find it. Most people enjoy it because it takes time to find it and translate it. If we were in the states i wouldnt be doing this because all the information would already be posted.

Cheers!

Medellin Apartments and Tours http://www.ParadiseRealtyMedellin.com

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maritime04 says on Nov 9, 2009, 16:05:

I did read the report, Thank you. as you are very civil and polite, i thank you as i see you stand by your information, as to what your true purpose is one can only guess, thanks for the info.

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makopp5 says on Nov 10, 2009, 04:52:

brians
the programm is good, my maid is getting an apartment which costs 35 millon for 9 millon.

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makopp5 says on Nov 10, 2009, 06:03:

Brians
in the case of maide she does not have to pay it back.

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makopp5 says on Nov 10, 2009, 06:35:

brians
no that are new apartments with Vivienda interes social in cooperation with Confenalco.

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whitewidow says on Nov 10, 2009, 06:49:

the questions are;

1) how large is the pool of funds?
2) where did the money come from? bond? other?
3) what are the income qualifications?
4) what are the terms of the program? percentages, max amount of collateral, etc

Looking for love....

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makopp5 says on Nov 10, 2009, 06:54:

ww
there was a kind of lottery. It`s with the caja de compensacion Comfenalco.
http://www.comfenalcoantioquia.com/subsidios/CuotaMonetaria/Vivienda/t...
El subsidio para vivienda no es un préstamo ni un crédito, es un aporte que les facilita a las familias tener casa propia.

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Cali2005 says on Nov 10, 2009, 12:40:

I was went in with a developer to talk with the folks at the vivienda en interes social one day, and the people that can prove they have STABLE JOBS, and show they can budget money well, can qualify for 3 seperate subsidies for a low income house. 1 from the city, 1 from the state, and 1 from the national government. Then after this they can usually get a loan for the remaining 30% or so. The average home in the VIS projects run between 30 and 50 million pesos from what i remember.

Subsidies are also being paid out to the middle class as well for new home purchases.

The VIS subsidies are tied into the construction of the new VIS housing, so money never is paid out to the people directly, and its an interesting way to keep construction projects moving quickly.

With 5 Million displaced people in Colombia the public subsidies are long over due, but are actually helping the economy quite a bit.

Ill have to look at my notes and i can get you all some more info on the subsidies here in Medellin.

Medellin Apartments and Tours http://www.ParadiseRealtyMedellin.com

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fecherklyn says on Nov 10, 2009, 14:58:

A good scheme...but not perfect:

-Advantages: the marginal construction created by the subsidies keeps activity at a higher level than it would have been otherwise.

-Disadvantage: candidates for the subsidy benefits must have STABLE EMPLOYMENT. So the scheme does nothing to create NEW employment (admitedly it keeps the construction workers working).

Unemployment is perhaps the biggest social problem in Colombia (Just try getting a permanent job unless you "know someone"). But better this scheme than NO scheme at all.

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