Colombia housing groups propose 11 trillion peso plan to reactivate ‘Mi Casa Ya’

Colombian industry groups Camacol, Asobancaria, and Asocajas, with support from the Inter-American Development Bank (IDB), have proposed a roadmap to reactivate the ‘Mi Casa Ya’ housing program. The initiative seeks to restore access to social housing for low-income households and stimulate the construction sector.

The proposal suggests an investment of 11 trillion pesos over four years to provide up to 300,000 subsidies. According to Camacol, this public investment could mobilize approximately 61 trillion pesos in total housing investment and potentially generate 1.05 million jobs. This comes after the program was previously eliminated under the administration of President Gustavo Petro due to resource constraints and policy shifts.

Separately, concerns have been raised regarding the national budget and fiscal priorities. Recent budget presentations indicate a significant increase in spending, with 37 trillion pesos allocated to debt service—representing over 60% of the increase. Meanwhile, social investment has faced cuts of 4 trillion pesos, and there are noted absences of funding for reconstruction efforts in municipalities affected by the August 10 earthquake.