A Great Moment to Invest in Colombia
It´s been several years since, due to the decrease in oil prices among other reasons, the Colombian peso has devalued towards the USD. For a long time, we were used to an exchange rate of approximately $2000 COP / $ 1 USD, but those days are long gone. Today, on June 18, 2019, the official exchange rate is at $3,286 COP / 1 USD.
These changes have been seen as something negative among the country´s society in general, especially due to reasons such as an increase in prices of imported items and/or travelling.
Nevertheless, what many don’t know is that due to the devaluation of the peso, we are facing new foreign investment opportunities. This year the outcomes of the increase in foreign investment have been noteworthy, according to an article published in El Colombiano “Foreign Direct Investment (FDI) in the country increased during the first trimester 68,4% more compared to the value registered during the same period of time last year. To be exact, it passed from 1.980 million USD to 3.335 million USD”.
Real Estate is one of the business sectors where this is most evident. In this moment, the USD´s value allows foreign investors to acquire properties by investing less money compared to what they would need make an investment of similar characteristics in their countries or in other markets of the region.