The used house is the preferred one when buying a property
- The value of the credits disbursed for used housing increased 18.2% and a total of 3.22 billion pesos in the last 12 months (with a cut in March).
- The prices of used housing are very competitive and, in some cases, the cost of the square meter is cheaper than new housing.
Bogota, August 2018. – Acquiring housing is one of the most important decisions of any person or family. When thinking about the different options that the real estate market has, the ideal is to buy a new house or apartment.
It is important to note that currently in the used housing market the increase in demand and prices is significant, the purchase preference for this type of property has grown thanks to the different advantages it offers in terms of market size. This is how the value of loans disbursed for used housing rose 18.2% and amounted to 3.22 billion pesos in the last 12 months (with a cut in March).
"For a correct decision when buying a home, it is important to take into account various factors such as price, space, location in the city, financial procedures; among others. Because of this, many people make the decision to acquire a house or apartment that has already been released. There are used homes in excellent conditions and at very competitive prices", says Ricardo Barbosa, project manager of Gran Salon Inmobiliario - International Fair.
Gran Salon Inmobiliario, presents four advantages of investing in used housing in the country.
Offer of real estate
In the currently used housing market there are properties with different location options, generous areas and better features than a new home. The diversified offer of second-hand goods allows the buyer to have a selection of the property they want based on their tastes and budget.
The prices of used housing are very competitive and in some cases the cost of the square meter is cheaper than the one in new housing. This allows the buyer to keep a capital and thus be able to make the adjustments to his taste that he considers pertinent in the property.
The majority of second-hand homes are located in sectors where there is an urban development. They have commercial areas, main access roads, public transport, shopping centers nearby; among others; generating a valuation of the house. On the other hand, the buyer can also generate short-term profits, investing in improving the property and reselling it at a higher price than what he bought it.
People who buy used housing can immediately dispose of the property, or just have to wait a few weeks depending on the purchase procedures that are still pending.
During the XIII edition of Gran Salon Inmobiliario 2018 - international fair that will take place from 9 to 12 of August in Corferias, visitors will be able to find innumerable types of real estate used in Bogota and in several cities nationwide.
The fair organized by the International Business and Exhibition Center of Bogotá - Corferias in association with La Lonja de Propiedad Raíz de Bogotá, expects 26,000 visitors this year, mostly professionals from the sector, businessmen, investors, construction companies, specialized consultants, suppliers and officials of industries that depend on the real estate sector.