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The Colombia Realty Gazette #04 - International TV show in Colombia
May 10, 2009
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Your link to the real estate market in Colombia

The newsletter for the international community with information about the Colombian Real Estate Market and all related issues.

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The Colombia Realty Gazette #4. May 11, 2009.

"Life is partly what we make it, and partly what it is made by the friends we choose." - Tennessee Williams.
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New fairs to promote real estate for Colombians living abroad, international TV networks interested in showing the country and new government measures, helps to maintain the dynamic of the Colombian real estate market. --------------------------------------------------------------- TOPICS
1. Colombian real estate fair “Invest at Home” -Invierta en Casa- in London and Madrid
2. “Home Hunting International” TV show in Colombia- You can be the star!
3. In action new law that reduces interest mortage rates.

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1. Colombian real estate fair “Invest at Home” -Invierta en Casa- in London and Madrid

Colombian real estate fair “Invierta en Casa” – Invest at home- for Colombians living abroad, i s one of the most important events to promote real estate in Colombia to the European market, offering housing solutions to Colombian immigrants. This year the Fair will take place in two major cities: Madrid 12th, 13th, 14th of June and London June 20th and 21st.

In order to take the most of these fairs, it is important for the Colombian immigrant to have a clear idea in advance what they can really buy in Colombia. Usually the Colombian living abroad has not the time or the money to travel to Colombia to make a real estate tour looking for a property in Colombia. They also usually require the opinion of a trusted person in the country in order to help them take the purchase decision. Normally, that person is an inmigrant’s relative living in Colombia, which is the person who can visit the properties, talk with the real estate agent in their homwtown, and finally help to filter, among a vast variety of projects in offer, the one that best fits with their needs and budget. Having clear in advance what they can actually buy, it will be easier to attend the fair, just to close the deal.

This is also an advantage to developers and promoters, who may have greater assurance that the investment in such an event is going to be fully justified in advance by the number of clients that have shown preliminary interest in their projects.

If you are a Colombian living in Madrid or London, you can learn more about how to buy in Colombia from abroad at http://www.buycolombiarealty.com/casa-en-colombia.html

Fill in the form with the characteristics of the property you are looking for at the following link http://www.buycolombiarealty.com/buscar-casa-en-colombia.html and take your time before attending the fair to known about projects that may interest you.

2. “House Hunting International” TV show in Colombia- You can be the star!

The international TV network HGTV has choosen us to make the show “House Hunting International” in Colombia. "House Hunters International" on HGTV It's a popular show in the US, where North American buyers show their experiences in countries around the world where they have decided to live. You can learn more about the show at http://www.hgtv.com/house-hunters-international/show/index.html. This web site can also provide some useful information about HGTV in general: http://scrippsnetworks.com/newsitem.aspx?id=90.

Well the good news is that BuyColombiaRealty’s visitors and prospective clients can be the star in this show!. We are looking for people that can comply with the producer’s conditions such as:

1. An energetic couple, married or unmarried, younger the better ( below 50 preferably), fluent in English, not necessarily living full time in Colombia. 2. Willing to show the property they have recently purchased (over the past year for example) or be close to closing on a residential property in Colombia.

If you want to have your “15 minutes of fame” and want to be part of this popular show, just send me an email at mauricioj@buycolombiarealty.com, telling me why you should be the right person to be in the Colombia House Hunting show. For the lucky couple not living in or near the production area, airfare will be arranged and paid for by the production company.

3. In action new law that reduce mortgage rates for middle class housing sector

In order to take action and counteract the decline in the rhythm of the construction industry, the government approved a law to promote mortgage loans for middle class housing projects, a sector which is about 50% of the housing offer around the country.

The government will assume around one third of the interest paid during the first seven years of life of the loan, time the grant will last. With this subsidy, the monthly installments would have a 25% reduction on average over this period, although initially these reductions would be between 20% and 30%.

Such measures have been mainly focused on providing an incentive for new housing projects and to provide financial support to Colombian buyers of strata 3 and 4.

This is the first time the government is giving subsidies for the middle class, that traditionally was not taken in count for this kind of measures.

The amounts of purchasing prices covered by the measure are: Up to 67 million pesos will get a 5% reduction on the annual effective interest rate; Between 67 million pesos and 117 pesos, 4% reduction on the annual effective interest rate, and from 117 to 167 million pesos, a decrease of 3%.

The measure will cover loans taken from April 01 of 2009 to June 30 of 2010. This is a good new for people who bought in off plan projects one or two year ago and are next to receive the properties and make the closing.

In spite of the economic slowdown, uncertainty among the population and a high fear for debt, the government's decision, makes this a great opportunity to buy real estate.


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