Do you want financial institutions to lend you easier money?

There are those who say that millennials are ‘zero’ interested in acquiring their own home. Their desires and interests for the future focused on something very different. That are the trips and the experiences lived in their day to day. They flee to stability and the comfort zone because they consider that they made to do big and important things. Many consider them ‘lazy’ and without projections. It has shown through studies that young people are interested in investing. It is growing professionally to get to know each other while climbing in better positions.

financial institutions

They do not think of buying housing as a goal that allows family building. Because it is not their life pillar for the future, they do consider it important to save good money to buy a property. Because this allows them to have an extra income to their salary remuneration, for them without a doubt this is a very considerable form of business. However, rather than analyzing the circumstances around you to determine whether to invest in housing. You should keep in mind the situation of the country’s economy policies and regulations. They could affect largely the value of the home. You are interested or the value of the installments that you would have to pay in the case of going to a mortgage loan.

In this sense, 2017 was a hard year that reflected with the fall of 5.7 of GDP in buildings. It is expected that 2018 is a year of adjustment the entity projects that growth would be 4.6%. Thanks to the stability of the fundamentals of the economy inflation, interest rates and GDP. The permanence of housing policies has to do with the subsidies. That the government has approved until 2019 and the positive continuity in VIS housing growth.

The boost to social housing and the positive effect of the program already marked a milestone in housing investment. This segment grew 22% in sales with a great dynamism in the initiation of work in the main regions of the country. In the middle segment of the market, the interest rate hedge helped to contain activity at a modest level compared to the last years. Despite being lower than in 2016, it contributed more than 90,000 units consolidated.

The characteristics of the homes that people are buying

The region with the highest VIS housing offer (of social interest) is Norte de Santander with 2,084 units as of October 2017. The region with the highest offer of No VIS housing (which is not of social interest) is Antioquia with 20,416 units as of October 2017. Sure, it seems very strange, especially because the capacity of debt that is required to acquire a mortgage is high. The requirements often ‘cumbersome’, moreover, to reach an investment of this size and long term is necessary to have a strong credit history. It generates enough confidence to financial institutions to approve the loan easily.