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Living on Rent in Colombia: An Increasingly Popular Option

Vivir en arriendo en Colombia: una opción cada vez más popular

In Colombia, renting homes has become an increasingly popular option for both nationals and foreigners. This is mainly due to the high costs involved in buying a property in the country. According to the National Administrative Department of Statistics (DANE), currently 40.2% of Colombian citizens live in rented residences, according to the data from the latest Quality of Life Survey (ECV).

However, it is projected that rental prices will increase significantly in the coming years. According to the Colombian Federation of Real Estate Boards (Fedelonjas), it is estimated that by 2024, lease rents will have increased by up to 9.28% in the country’s main cities. This would affect both the families living on rent and the homeowners, especially those belonging to socioeconomic strata 1, 2, and 3.

In this context, many people are looking for rental options in cities like Bogotá and Medellín, which offer educational and employment opportunities, as well as stability. In a comparative analysis conducted by W Radio, the rental costs in two representative neighborhoods were evaluated: Laureles in Medellín and Chapinero Central in Bogotá, both known for their high cultural and artistic levels.

The results showed that rental prices are higher in Chapinero Central than in Laureles. For example, the rent for a 30-square-meter apartment in Laureles has an approximate value of $1,200,000 COP, while in Chapinero, it would have a cost close to $1,520,000 COP. These differences continue as the size of the property increases.

It is important to note that these prices are estimates and may vary depending on factors such as size, number of rooms and bathrooms, inclusion of administration fees, and parking availability.

In conclusion, renting homes in Colombia has become a popular option due to the high costs of purchasing. However, it is expected that rental prices will continue to increase in the coming years, posing a challenge for both tenants and homeowners.

Frequently Asked Questions:

1. Why has renting homes become popular in Colombia?
– Renting homes has become popular in Colombia due to the high costs of buying a property in the country.

2. How many Colombian citizens live in rented residences?
– According to the Quality of Life Survey (ECV), currently 40.2% of Colombian citizens live in rented residences.

3. Are rental prices expected to increase in the coming years?
– Yes, it is estimated that rental prices will increase by up to 9.28% by 2024, according to the Colombian Federation of Real Estate Boards (Fedelonjas).

4. How would the increase in rental prices affect homeowners and families living on rent?
– The increase in rental prices would affect both homeowners and families living on rent, especially those belonging to socioeconomic strata 1, 2, and 3.

5. Which representative neighborhoods in Bogotá and Medellín are suggested for rental options?
– Two representative neighborhoods for rental options are Laureles in Medellín and Chapinero Central in Bogotá.

Key terms:

– Rent: The act of leasing a property in exchange for periodic payment.
– Property: An immovable asset, such as a house or an apartment.
– Socioeconomic Strata 1, 2, and 3: Socioeconomic stratification system in Colombia that classifies individuals and homes into different income levels and socioeconomic conditions.

Suggested Related Links:
– National Administrative Department of Statistics (DANE)
– Colombian Federation of Real Estate Boards (Fedelonjas)
– W Radio