Construction & Real Estate

Colombia Construction and Real Estate

Buoyed by a strengthening of the government’s housing programme, as well as a continued emphasis on improving transport infrastructure across the country, Colombia’s construction sector is well positioned for growth over the coming years. The sector grew 9.8% in 2013, considerably more than the 3.6% increase seen in 2012, accounting for 6.5% of GDP in 2013, according to BBVA Bank. Driven by demand for housing and a mounting construction sector, the real estate sector is also experiencing healthy growth. According to the Colombian Federation of Real Estate, the sector accounted for 8% of GDP in 2013, with real estate services generating a value of $9.8bn, a 3.2% increase on 2012 figures. As the housing stock is absorbed by high demand and a well-structured mortgage system, fears of an impending bubble have so far been exaggerated. This chapter features an interview with Luis Felipe Henao Cardona, Minister of Housing and Social Development.

Cover of The Report: Colombia 2014

The Report

This chapter is from the Colombia 2014 report. Explore other chapters from this report.

Interviews & Viewpoints

Sketch of Luis Felipe Henao Cardona, Minister of Housing and Social Development
OBG talks to Luis Felipe Henao Cardona, Minister of Housing and Social Development