Colombia - House Price Index for New Homes

For Colombia, the National Administrative Department of Statistics (DANE) reports quarterly price indexes for residential properties under construction, comprising houses and apartments.

Active:

• Measurement: Fixed-base index relative to 2020Q4 (Index 2020Q4=100)
• Adjustment: Not seasonally adjusted (NSA)
• Native frequency: Quarterly
• Start date: Uniformly 2016Q1

Predecessors:

• 2014Q4=100 - 1997 to 2020
• 2006Q4=100 - 1997 to 2014
• Methodology prior to 2010 - 1997 to 2010
• Methodology prior to 2006 - 1997 to 2006

Sale price per square meter of the property corresponds to the value at the time of the census. The cost structure at market prices:

• Lot price
• Costs of urbanism
• Direct costs - materials, equipment, labor, outsourcing
• Indirect costs - taxes, fees
• Financial costs - interest rate, monetary correction
• Sale costs -sales commissions, advertising
• Profit margin

The source defines:

• Houses as "dwellings in buildings not more than three floors tall, with separate entrances"
• Apartments as "dwellings in buildings at least three floors tall, with shared common areas, mainly access, corridors and recreation"

The price indexes are based on the market price per square meter (areal price), based on the salable area, which excludes common and exterior parking areas.

Moody's Analytics supplements

We back-extend the three NSA series by 19 years. For each, we construct a seasonally adjusted counterpart.

Further reading

At the source:

• Source Methodology