BanRep Blog: Housing Prices and International Remittances in Colombia
This latest Blog entry discusses the recent issue of the Working Papers on Economics that analyzes variations in remittance flows to several regions of Colombia and their correlation with changes in housing prices.
Publication Date:
Monday, 23 September 2024
08:50
A recent research paper authored by Jair Ojeda from Banco de la República (the Central Bank of Colombia), published in the Working Papers on Economics series, examines the impact of remittances from abroad on housing prices in Colombia. The study focuses on the analysis of remittance flow variations to several regions of Colombia and their correlation with changes in prices of specific new housing projects. The findings illustrate a significant aspect of the macroeconomic impact of remittances, which account for 2.0% of the country's gross domestic product (GDP) and over 10% of its exports of goods.
