Colombia's Ministry of Housing, City and Territory has published a draft decree setting the sale of Social Interest Housing (VIS) and Priority Interest Housing (VIP) in Colombian pesos, rather than minimum wages. The document establishes caps of 135 minimum wages for VIS and 90 for VIP, with a limit of 280 minimum wages in San Andrés, Providencia, and Santa Catalina for rural social interest housing.
Colombia's Ministry of Housing, City and Territory has released a draft decree aimed at regulating the pricing of Social Interest Housing (VIS) and Priority Interest Housing (VIP). Under the proposal, these homes will be sold exclusively in Colombian pesos, removing references to minimum wages in transactions.
The draft sets specific limits: a cap of 135 monthly minimum wages for VIS and 90 for VIP. In the islands of San Andrés, Providencia, and Santa Catalina, the maximum value for rural social interest housing reaches 280 minimum wages. Sellers must disclose the total price clearly, verifiably, and in pesos from the moment the buyer expresses intent to purchase, whether through reservation, purchase promise, fiduciary assignment, or equivalent document.
The set price will remain the only one enforceable until contract completion and cannot exceed the maximum cap in effect at the time of adjudication or acquisition. The Superintendency of Industry and Commerce will handle inspection, surveillance, and enforcement of these rules.
This initiative aims to enhance transparency in the affordable housing market, though the draft is still open for comments and final adjustments by the ministry.
