Tuesday, July 1, 2014

Investment in real estate in Colombia PTO

The growth of the economy and the incentives to invest are some of the elements that create opportunities for housing, offices, hotels and commercial establishments, among others.

Hotels, offices, convention centers, warehouses, free zones, industrial and housing projects are part of the menu of investment opportunities in Colombia, which has broken all records after entering a period of economic growth and foreign investment has located as one of the most attractive countries for business.

This upward trend was confirmed by the National Bureau of Statistics, for in the last twelve months to January, accumulated an approved 23.4 million square meters, representing an annual increase of 28.2 percent area.

Bogotá is the most coveted region for investment, followed by the departments of Antioquia and Valle.

According to the organization, projects for wineries were the best performers, up 67.2 percent; then there are approvals for offices, with 58.1 percent; trade, 56.1 percent; housing, 30.4, and hotels, 14.7 percent.

Even more important, the consolidated permits: 23.7 million square meters, which exceeds 19.2 million in 2007, which was a record year industry.

The case is relevant in the hotel, if you consider that the indicator initiations of new works at the end of 2011, scored with an increase of 129 percent.

In fact, major hotel chains in the world have come to the country with projects that explore the integration with housing, retail and offices to put together a complete package that attracts potential investors.

According to the building contractor, Luis Fernando Correa, the number of hotels must be close to 1,700 rooms and around 64,000, including projects on site.

"Some consider these excessive numbers, but we need much," says Correa, adding that "to grow significantly we take the next ten years at least another 50 thousand rooms."


The Colombian Chamber of Construction (Camacol) highlights the performance of social housing (VIS), linked to the figures reported in Bogota and Cundinamarca, which in 2011 accounted for 47 percent of the total.

"Participation in the allocation of government subsidies, which strengthened the demand, and the start of several developments associated macroproject Green City in Soacha (Cundinamarca), were instrumental in the process," said the organization.

Camacol also highlights the growth in commercial locations (64 percent), Wineries (69 percent) and offices (29 percent), which analysts have been given to believe that 2012 will be the year of these markets.

"In shopping malls is revalued and the threat of oversupply, however, there is room to grow, especially in intermediate cities of over 300,000 inhabitants," says Felipe Bernal, construction manager Pedro Gómez y Cia.

For Roberto Caceres, director of real estate services firm, Colliers International Colombia, "the country has twelve cities with over 400,000 inhabitants and an expanding middle class, which means that there is an attractive market for supermarkets and trade in general. "

In the same vein are the offices, said the executive, who highlighted the case of Bogotá, which manages the largest inventory in the country: "The net absorption of office in the capital during the second half of 2011 was 203,979 square meters, a record historic. "


The real estate sector in Colombia has established several exemptions and benefits, including tax users EPZ incentives. They enjoy the exemption from payment of income tax (35 percent) and complementary remittance (7 percent) on the proceeds of the annual sales of goods and services into foreign markets.

Similarly, goods for production (machinery and equipment, raw materials, supplies and spare parts) from abroad, intended for industrial users are exempt from import duties, ie, tariffs, the value added tax or sales tax, and only the rights to the foreign component is incorporated cause.

Investment in hotels also enjoys exemptions, because the income from accommodation services in the first works executed between January 2003 and December 31, 2017 are exempt from income tax by treinjta years.

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