How complicated it is to have your own home in Bogotá

The economic situation of the majority of Colombians has made it difficult for them to realize their dream of owning their own home for years.

The high cost of housing in the country, especially in Bogotá, has been one of the major obstacles to achieving this goal. But now it is the new generations who are most affected.

Factors like that Work informalitythe bass Salary level and the big one Cost of living For many it is the biggest obstacle.

playground He took his series to the streets LIVE HERE to learn the realities and opinions of Bogota residents regarding access to housing.

“The cost of living is high. Services, administration and the family basket have increased significantly. Life in Bogotá is expensive,” said a citizen who lives in the Colina neighborhood north of the city.

This area is one of the most privileged in Bogotá as it has a wide range of housing, good access roads, shopping areas and parks.

However, not many people can afford the cost of renting or owning a home in Colina.

For example, a new 60 square meter apartment in this area can have an average starting price of around 530 million pesos (US$137,000).

“The idea of ​​owning my own apartment (…) seems too crazy to me.” “In order to achieve that, I would have to have a very high salary and save for a long time,” said a young woman LIVE HERE.

A large proportion of Colombians live on rent

Given this social reality, a large part of The Colombian population lives in rent and that shows how they need to adjust their income and lifestyle.

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According to the Real Estate Market Supply Report from the Colombian Federation of Real Estate Exchanges (Fedelonjas), 40.2% of households live in rent.

In addition, the majority of rental supply in the country is registered in tiers 1, 2 and 3, as low- and middle-income populations have the most access to this type of housing.

To address this reality, we examine the costs of a to rent a flat small in the Colina area. The value can range from 1,500,000 to 3,000,000 pesos (between 382 and $774).

Therefore, it would be impossible for a person earning the minimum wage of 1,300,000 pesos ($335) to live in this area.

If this is the case when taking out a rental agreement, we cannot imagine the difficulties a person earning this income might face in purchasing a home.

«It is not possible to suddenly say “out of nowhere, I will go into life alone” because the minimum is not enough. “If you have enough for the rent, it’s not enough for the market,” said one young woman.

These reasons show why millions of Colombians, especially young people, struggle to live in their own homes.

The cost of housing, the level of their wages and their lifestyle determine the way these people have to live; Therefore, many are located on the outskirts of the city, where it is cheaper.

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