Colombia's rental market hit by vacant storefronts and fraud scams

In Pereira, the city centre is seeing a wave of vacant commercial spaces as traditional shops struggle against the draw of shopping malls, e‑commerce, rising taxes, utility costs and high rent. Local authorities’ enforcement actions and a recent increase in the minimum wage have added pressure, prompting calls for tax relief, digital‑training programs and urban improvements to revive the downtown area.

In Bogotá, the city’s security secretariat has warned of a fraud scheme that uses false rental advertisements on social media and online platforms. Scammers post under‑priced apartments, collect personal documents and demand advance payments of up to 50 % of the rent, then disappear. Victims are left without a property and have lost their money. Officials advise using reputable real‑estate agencies, verifying listings in person and avoiding large upfront payments.