323 homes were sold for US$24 million at a Colombian real estate fair in New Jersey on Saturday and Sunday, Colombian newspaper Portafolio reported Tuesday.
The homes were sold at the Colombian Real Estate and Investment Exposition in Secaucus, New Jersey on Saturday and Sunday.
The Exposition was organized by the Colombian Ministry of Foreign Affairs and the Colombian Construction Chamber, with the participation of 45 home builders and eight financial companies.
According to the report, the sale of 124 homes was closed for US$9.1 million, while the sale of the remaining 199 will be completed this week for US$14,9 million. The sold homes cost between US$50 thousand and US$100 thousand each.
There is no restriction for foreigners purchasing real estate in Colombia. Colombian legislation ensures that the non-Colombian buyers take their capital plus gain out of the country upon sale.