Construction in Colombia – Key Trends and Opportunities to 2019

Date: 2015-12

“• According to the Banco de la República, the central bank of the Republic of Colombia, the housing market remained buoyant in 2014. The average price index of existing homes grew by 5.7%, going from 126.0 in 2013 to 133.1 in 2014. This was preceded by annual growth of 7.8%, 8.3%, 4.5% and 4.5% in 2013, 2012, 2011 and 2010 respectively. The largest increase in existing house prices was recorded in Bogotá, the country’s capital, where the average price of existing homes grew by 7.4%, increasing from 134.0 in 2013 to 143.9 in 2014, while house prices in Medellín, Cali and other cities rose by 5.1%, 4.3% and 6.3% respectively.

• Rising energy demand is expected to attract investments in the country’s energy infrastructure over the forecast period. According to the Sistema de Información Eléctrico Colombiano (SIEL), electricity demand in the country increased by 30.2% between 2005 and 2014, increasing from 48,829GWh in 2005 to 63,571GWh in 2014, and is expected to reach 79,541GWh by 2020 and 89,918GWh by 2025.

• To improve transport infrastructure, reduce travel time, increase access and improve transport services, Agencia Nacional de Infraestructura (ANI) – a Colombian government agency – is seeking investment of COP200.0 trillion (US$100.0 billion) under the 4G plan in transport infrastructure by 2021; of this total, COP50.0 trillion (US$25.0 billion) will be spent on road infrastructure.

• The number of foreign tourist arrivals to Colombia increased in 2014, making tourism one of the main growth industries. According to the Ministry of Commerce, Industry and Tourism, the total number of tourist arrivals in the country grew by 11.9%, going from 3.7 million in 2013 to 4.2 million in 2014. Plans to increase the number of visitors to 5.0 million by 2018 will require significant investment in Colombia’s tourism infrastructure.”

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