The Whirlwind of Problems Triggered by the 23 Percent Minimum Wage Increase in the Housing Market

Real Estate attorney Esteban García was mentioned in an article published by Cambio about the effects of the 23 percent minimum wage increase in 2026 on Colombia's housing market, particularly for Social Interest Housing (VIS) and Priority Interest Housing (VIP) projects. The article analyzed the impact on homebuyers and developers, as well as the government's draft decree that would set the price of these homes in Colombian pesos and limit indexation to the minimum wage. Mr. García noted potential legal implications of the proposal, cautioning about limits on the executive branch's authority to change these elements.

"The national government has the authority to regulate the law, but not to modify, by decree, a structural element of the legal regime, such as the methodology for setting VIS pricing," he said.

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