Bogotá auctions properties starting at 25 million pesos

The Bogotá mayor's office, through the Department of Public Space Administration (DADEP), is offering a catalog of district-owned properties for sale at prices starting from 25.9 million pesos. The initiative aims to optimize the use of fiscal assets not allocated to institutional projects Source: infobae.

The offerings

The catalog includes apartments, lots, commercial premises, and even a participation in a room at the Hotel Selina Bogotá. The cheapest item is the hotel room share at 25.9 million pesos, while apartments in Horizontes Norte and Bel Horizontes Norte are priced around 154 and 157 million pesos. A lot with a building is listed at 667.7 million pesos Source: elcolombiano. Properties are located in various areas of the city, with full details available on the Portal Inmobiliario de Bogotá.

How to buy

Interested parties must review the technical and legal documents for each property and submit a declaration of interest. Sales may be conducted through direct sale or administrative delivery, depending on the property Source: infobae. DADEP recommends carefully checking requirements before applying.

Comparison with European initiatives

While some have compared this to Italy's 'one-euro houses' programs, the Bogotá scheme differs significantly. Italian initiatives sell abandoned homes for a symbolic price but require buyers to cover restoration costs. The Bogotá auction, meanwhile, offers properties at below-market values but not at such low prices, and with a different goal: efficient sale of public assets Source: elcolombiano.