Expat Community > Colombia

fecherklyn
Joined 2015
Posts: 1459

Are property prices all wrong?

1 year ago

This BBC headline caught my attention and I thought it worthy of debate despite the fact it, at first sight, seemingly having nothing to do with Colombia…..or, perhaps it does?

Foreigners now banned from buying homes in Canada
https://www.bbc.com/news/world-us-canada-64082923

In an earlier thread I suggested to forum members that property prices in Colombia had shot up recently and were now beginning to HURT. Now, I feel it appropriate to ask “Why, & If’ house prices should hurt…..is it in the national interests that housing needs are so closely related to commodities that function as profit and loss articles rather than as homes to live in?

Already Canada and New Zealand are taking a stab at this problem. With Canadian properties now being priced at more than 11 times the median household net income it seems evident to me property prices are becoming less, and less a function of a living quarter, but more of an investment for pure profit motives?

Are Colombian property prices too high? Are property prices too sensitive to foreign investment and the local inbred criminal/corruption money laundering input?

Over to you Elexpatriado?

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Expat Community > Colombia

Are property prices all wrong?

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