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How much is really the cost of build or buying a house in Colombia?

At ARKIHAUS, it is our responsibility as architects and builders to break the paradigm that states that “architecture of high aesthetic value is unpayable for most people”. We give superior value to creativity as a tool to bring well-thought out constructive solutions to our clients, becoming an opportunity for them to think big.At ARKIHAUS, it is our responsibility as architects and builders to break the paradigm that states that “architecture of high aesthetic value is unpayable for most people”. We give superior value to creativity as a tool to bring well-thought out constructive solutions to our clients, becoming an opportunity for them to think big.

Our goal will always be to produce houses of high aesthetic/architectural value at an affordable price … but … what is an affordable price? That implies a comparison with respect to market prices … so the obvious question is: Our goal will always be to produce houses of high aesthetic/architectural value at an affordable price … but … what is an affordable price? That implies a comparison with respect to market prices … so the obvious question is:

How much is the cost of making or buying a house in Colombia?

This question is the most requested by customers and is the first thing they ask us to do their own rudimentary calculations, although there are many variables to take into account and that you cannot put a generalized price on all constructions, in fact the price is given by the quality with which a house is going to be built, the materials and luxuries to take into account, such as: carpentry, floors, type of roofs, the material of the kitchens, coverings, therefore all this goes up or lower the price of the square meter of construction.

On the other hand, there are situations where some professionals in order to retain the client promise prices that they know are not viable, and then through unforeseen events and sacrificing the construction quality will arrive at a real price, at the expense of the client’s pocket and the final quality of the project. That threatens the completion of the project and increases the frustration of anyone who bets on having a house.

Most of the cost of the square meter of construction is conditioned by the finishes that we put to a project (60% to 70%). In addition they are one of the elements of importance to determine the quality and category of the type of construction.

Despite the subjectivity that the issue of finishes may imply, fortunately there is something that is very objective, which are the market price markers. Our financial analysts looked for the main specialized sources of data in the Colombian real estate market, such as: The DANE (National Administrative Department of Statistics), CAMACOL (Colombian Chamber of Construction) and a selection of 4 of the portals of fincaraíz de greater prestige of national scope in Colombia, in order to raise the following data table with average costs per square meter for housing by stratum (includes new and used homes, horizontal property and vertical property + lot where the property is built). We chose homes from strata 4 and 2 because they are markers with a large amount of data, in order to increase the confidence of the study.

Are ARKIHAUS houses really accessible in price?

ARKIHAUS Innova Model House

Let us make a comparison of the cost per mt2 of the ARKIHAUS products with respect to the costs per mt2 presented in table 1. So that we can objectively and correctly compare the costs per mt2 we must place a land type to the ARKIHAUS option, in order to be able to take into account the influence of the land cost to the cost per m2 of the constructed house. But what size? As in the table 1 both horizontal and vertical properties are included, then we apply the following criteria:

  • In vertical property a credible average is that the price of each mt2 includes the price of 0.25 meters of land where the property is built. (*)
  • If, for example, the ARKIHAUS Innova model in its standard configuration has a 310 mt2 plant then we can, for the purposes of our comparative study, assign an average land of 500 mt2, in order not to get too far from the average land ratio vs plant and its incidence of the price per m2 of table 1.

(*) For a 10 floors vertical property, with 500 m2 of each floor and with 4 apartments per floor, in a lot of 1,000 m2, occupying 80% of each plant, that implies the commercialization of 4,000 m2 of construction on 1,000 m2 of land, It implies that each meter of construction includes 0.25 meters of land.

Making a study of the cost per mt2 of lots in strata 5 and 6 in the main cities of Colombia and assigning to the ARKIHAUS Innova model by reference of ARKIHAUS products, with a plant of 310 mt2 a land of 500 mt2 we produce the following table:

Table 2

And we finally produce based on the data in Tables 1 and 2 our comparison Table:

Table 3

In comparative table 3 we are comparing the average cost per mt2 in Colombia for real estate stratum 4 (table 1) with the cost per mt2 of ARKIHAUS products, which due to their finishes and architecture are directed to stratum 6, built in lands of strata 5 and 6 (table 2), checking the cost efficiency of the products we are offering to the Colombian market.

ARKIHAUS Innova Model House

Conclusion

The cost of making an ARKIHAUS house, stratum 6, in a land stratum 5 or 6, approximates in price to buy a stratum 4 property in Colombia.

Our goal: “Producing houses of high aesthetic / architectural value at an affordable price” is not a marketing slogan, it is a tangible proposal that has been the result of years of research and development of cutting-edge technology products for the Colombian market.

In ARKIHAUS we have proposed to put at your disposal the latest in construction technology to satisfy your aspirations, motives and desires to have “The Perfect House”.