Real estate market in Colombia expects foreign buyers to return in 2010

Nicholas Wallwork

Nicholas Wallwork

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The real estate sector in Colombia is poised to recover well as foreign*investors from the US and Europe return to the market in 2010, it is*claimed.

Indeed, the property industry in this Central American country has seen*it all before. It suffered its own mini real estate market collapse in the*late 1990s. At the time, the most common type of financing was adjustable*rate mortgages which were tied to skyrocketing inflation rates and as the*value of the Colombian peso declined and the cost of living increased, so,*too, did mortgage payments leaving many homeowners with properties worth*less than their loans and foreclosures became rampant.



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