Property price question

Got a specific question for the PBH property heads….

What is the current price range cada m2 for a new apartment in Cedritos Estrata 4 (circa 90m2) (good location on the 146). And of course do you think this area is appreciating.

I’ve looked on www.metrocuadrado.com to get an idea but their tables are primarily for existing properties.

If any of you have any good web sources for property in Bogotá other than metrocuadro let me know…

Much appreciated

By Noelito40 on May 4, 2008, 15:41 in Renting, selling & meetups.

gringoloid says on May 4, 2008, 17:24:

a realtor would be your best source for that info. i notice many transactions are kept secret.

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Gator says on May 5, 2008, 09:49:

Agree 100% with Gringoloid. A knowledgeable realtor will be a great help. It's hard to say because of the variables which make up building costs. Number of bedrooms, bathrooms and kitchens per square foot are the most expensive areas. Apartments with features such as on 24-hour security, dedicated parking space, garden area, etc. will cost more per square meter. And, of course, the location can have a large effect on the per square meter price. A lot depends on the
estrata which is sometimes is determined by blocks. So don’t be amaze to find houses with different stratification in the same neighborhood.

In a estrado 5/6 like Chico the sq mtr costs should be about new construction $3.000.000 sq mtr further north to say Cedritos new would be say $2.000.000 sq mtr., exsisting property(used) say 20% less.

Jut my observation and not to be taken as gospel

Ran across this ranking by Source: Coldwell Banker 2007 for the Latin American Markets:

Country Market 2007 Avg. Sales Price USD 2007 Average Sales Price in Local Currency

COLOMBIA Bogota $140,100 281,600,000 COP
NICARAGUA Granada $190,000 3,616,080 NIO
PANAMA Panama City $201,333 204,655 PAB
MEXICO Guadalajara $246,522 2,746,810 MXN
HONDURAS Tegucigalpa $377,500 7,182,881 HNL
COSTA RICA San Jose $389,900 206,545,626 CRC

Source: Coldwell Banker

"Brevior Sltare Cum Deformibus Mulieribus Est Vita!" .

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Alma del Norte says on May 5, 2008, 10:02:

That's an interesting post Gator - thankyou.

Using your figures, I worked out the the resale value on the apartment I rent here in Cedritos, (estrato 4, #147), and it comes out pretty much spot-on the price I could buy it for, if I wanted to. Very impressive.

[estrato edited 06 May]

La vida es una rutina

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aztec says on May 5, 2008, 10:23:

When I was last in Bogotá I saw a document which showed the cost per meter for apartments in all areas of Bogotá. Several variables were factored into the listing such as the age of the building.

I believe many real estate agents may have access to this same report. Perhaps property sections of the banks may also have the data.

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aztec says on May 6, 2008, 13:27:

buggy Thanks. That is exactly the information I saw earlier.

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Noelito40 says on May 6, 2008, 14:12:

Thanks Buggy, these were the tables I was referring to originally, they are indeed very good for setting a benchmark for prices, they at least give you some terms of reference, but what puzzles me is that these tables contain sections for new properties, but these are almost always blank? which begs the question why are they there in the first place? It should be as easy to formulate average prices for new developments?

My suspicion is that prices for new apartments can even differ within buildings (i.e. if a building has say 2 towers, then prices for apartments in the second tower are almost always more expensive than identical apartments in the first tower).

thanks

Noelito

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