Colombia Reports

Bogota's eastern hills (Photo: Wikipedia)

Neighborhoods in Bogota are valued differently, depending on their location, urban development, and existing private construction projects, some are worth more than others.

According to a research conducted by real estate website Metrocuadrado, taking the value per square meter used between two and eight-year-old apartments into account, there are three main reasons why one sector area is valued more than others.

The first is the investments coming from the state: when talking about plans for road development such as avenues for ciclovias, locations for Transmilenio bus stops, the future location of Metro lines will become of importance as well; also, plans involving the development of public spaces for creating parks, libraries, and other recreation areas.

Second is business investments. Bogota’s neighborhoods are especially influenced by this factor. Businesses continue recovering particular sectors, which on it turn increases its value per square meter. This phenomenon is due to the implementation of projects by private builders. The building of shopping centers, office buildings, warehouses, stores, business centers, schools, health centers, and so on.

Last but not least is the personal investment generated when owners improve their own housing situation.


La Magdalena

Located south-west of Bogota, and is part of the Ciudad Bolivar district, this neighborhood has excellent access to various highways. It also has a large shopping area and one of the attractions of the sector is the Magdelena New Park and Magdelena sport creation Cafam club.

Most of the sector is residential and it is considered an estrato 3 area. Thanks to its security, architectural design and housing construction, it is currently one of the highest valued neighborhoods in the south of Bogotá.

  • Average price per square meter: 1.916.749 pesos in 2014 (it increased by 368.195 pesos compared to 2013)
  • Average value of a house for sale*: > 150 million pesos.
  • Average value of renting property: > 700.000 pesos

Gustavo Restrepo

Located south of the city, and is part of the Rafael Uribe-Uribe district. Bordering the neighborhoods Olaya, south Quiroga Sosiego, and south Country.

Th neighborhood is one of the most traditional neighborhoods of southern Bogota, and is characterized for its various residential and small commercial businesses.

It further encompasses plenty recreational spaces such as the San Carlos Park and Channel Albina.

  • Average price per square meter: 2.144.082 pesos in 2014 (it increased by 407.350 pesos compared to 2013).
  • Average value of a house for sale: > 400 million pesos
  • Average value of a renting property: > 700.000 pesos

Verona

Part of Ciudad Bolivar, and on the main roads of Villavicencio Avenue and carrera 51. It borders the neighborhoods: La Coruna, Jerusalem, Lower and Upper Arborizadora.

The neighborhood has an important commercial area of restaurants, supermarkets, drugstores, clothing stores, and much more. The neighborhood is right next to the headquarters of the Technology faculty of the District University and the Uniminuto House. It is also very close to the Tunjuelito river.

  • Average price per square meter: 1.687.181 pesos in 2014 (it increased by 318 832 pesos compared to 2013.
  • Average value  of a house for sale:> 110 million pesos
  • Average value of renting property: > 600.000 pesos

Marruecos

Part of the town of Rafael Uribe-Uribe, and located in the south of the capital, it borders the neighborhoods: El Consuelo, Bochica City, San Agustin and Molinos.

There are various recreational areas to visit, such as the Morocco Park, South Mills Cultural Center and the San Ramón Nonato parish.

The neighborhood is known for its small local  businesses such as restaurants, drug stores, and clothing stores.

  • Average price per square meter: 1.328.077 pesos (it increased by 240 121 pesos compared to 2013).
  • Average value of a house for sale: > 130 million pesos
  • Average value of renting property: > 500.000 pesos

El Claret

part of the town Rafael Uribe-Uribe, and located south of the capital.

Well-known places to visit are, amongst others, Parish of the Immaculate Heart, the Tunal park, the commercial center Tunal, Sports Quiroga, Centro Mayor and Hebrew Cemetery South.

According to the Cadastre, one reason for the increase in the valuation is related to the recent attraction of the trade sector as a consequence of the development of public parking lots.

  • Average price per square meter: 1.957.071 (it increased by 337.580 pesos compared to 2012).
  • Average value of a house for sale: > 630 million pesos

*All housing prices are granted by Metrocuadrado.

Sources

Los cinco barrios más valorizados en Bogotá (Metrocuadrado)

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