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entorno macroeconómico, la asignación de capital y la gestión de riesgos. La región enfrenta presiones fiscales e inflacionarias, pero se observa un cambio de sentimiento favorable impulsado por el surgimiento de gobiernos promercado y la expectativa de recortes en las tasas de interés, lo que abre oportunidades para la adquisición de activos a precios atractivos antes de una revalorización prevista en los próximos 18 a 24 meses.\u003C\u002Fp>\u003Cp>En Centroamérica, aunque varios países presentan una estabilidad macroeconómica notable, inflación controlada y bajos niveles de deuda pública, la atracción de capital institucional enfrenta serios obstáculos. La lentitud burocrática en la obtención de permisos y licencias -que puede extenderse hasta por dos años-, el elevado costo de oportunidad y las deficiencias en infraestructura pública, como redes eléctricas y de saneamiento, reducen la rentabilidad y desaceleran el desarrollo inmobiliario, especialmente en el segmento de vivienda de interés social.\u003C\u002Fp>\u003Cp>El sector industrial y logístico, impulsado por las cadenas de consumo y el comercio electrónico, lidera las preferencias de asignación de capital, seguido por el segmento residencial para venta y la infraestructura digital. En el sector hotelero, el reposicionamiento, la conversión y el rebranding de activos existentes se consolidan como las principales estrategias de creación de valor. En contraposición, la expansión del multifamily encuentra limitaciones debido al desacople entre los retornos esperados y los costos de capital.\u003C\u002Fp>\u003Cimg src=\"https:\u002F\u002Fcdn.griinstitute.org\u002Fuploads\u002Fhubnews_inline\u002F56c133fe777b3d0d1495acede322019d8181fabc65d01172cf72813c445217a6.webp\" alt=\"\" \u002F>\u003Cp>\u003C\u002Fp>\u003Cp>Para mitigar los riesgos cambiarios y políticos, la estrategia recomendada es la combinación de activos privados y públicos, asociando renta fija con inversiones inmobiliarias directas y deuda privada. Adicionalmente, las alianzas estratégicas entre inversionistas y operadores locales consolidados constituyen la vía más eficiente para navegar la complejidad regulatoria y operativa de la región.\u003C\u002Fp>\u003Cp>El desarrollo de los mercados de capitales locales debe ser una política de Estado sostenida, aliada al fortalecimiento de una gobernanza transparente y a la creación de mecanismos financieros -como la titularización y la reciclaje de capital- capaces de impulsar proyectos de gran escala.\u003C\u002Fp>\u003Cp>\u003Cstrong>\u003Cem>Lea también: \u003C\u002Fem>\u003C\u002Fstrong>\u003Ca href=\"https:\u002F\u002Fnews.griinstitute.org\u002Fes\u002Fmercado-inmobiliario\u002Finversionistas-revelan-la-apuesta-dominante-en-los-andes-y-centroamerica\" target=\"_blank\" rel=\"noopener noreferrer\">\u003Cstrong>\u003Cem>Inversionistas revelan la apuesta dominante en los Andes y Centroamérica\u003C\u002Fem>\u003C\u002Fstrong>\u003C\u002Fa>\u003C\u002Fp>\u003Ch2>Dinámicas Inmobiliarias\u003C\u002Fh2>\u003Cp>La consolidación de activos alternativos requiere una conexión sólida con los mercados de capitales y el capital doméstico. En América Latina, las altas tasas de interés continúan siendo el principal obstáculo a corto plazo, presionando las valuaciones de los activos y desacelerando el levantamiento de fondos. Sin embargo, se vislumbra una oportunidad estructural significativa a mediano y largo plazo, impulsada por el descalce entre una oferta limitada de metros cuadrados y una demanda creciente.\u003C\u002Fp>\u003Cp>La contracción en la obtención de licencias y en la construcción de nuevos proyectos durante los últimos años generó una escasez de inventario que favorece a los portafolios consolidados, permitiendo el incremento en las tarifas de arrendamiento en sectores como el logístico, corporativo y comercial. En Centroamérica, los mercados con economías dolarizadas y estabilidad macroeconómica presentan un potencial atractivo, pero la falta de escala transaccional y los largos plazos burocráticos y de licenciamiento limitan la entrada de grandes volúmenes de capital internacional.\u003C\u002Fp>\u003Cp>El sector logístico y de almacenamiento se mantiene como el más dinámico, beneficiándose de las necesidades de exportación y del e-commerce. La vivienda en renta y los proyectos de senior living emergen como oportunidades prometedoras impulsadas por tendencias demográficas y el envejecimiento poblacional.\u003C\u002Fp>\u003Cimg src=\"https:\u002F\u002Fcdn.griinstitute.org\u002Fuploads\u002Fhubnews_inline\u002F36d3447c6e21bda30680d243dbada0eaade355a79619cf088fd1674136aa9294.webp\" alt=\"\" \u002F>\u003Cp>\u003C\u002Fp>\u003Cp>Los sectores de salud y turismo también destacan, en particular a través de proyectos orientados a la sostenibilidad, eficiencia energética e impacto social. En contraste, el desarrollo de data centers enfrenta severas limitaciones de infraestructura en la mayoría de los países de la región debido al alto consumo hídrico y a la incapacidad de las redes eléctricas para garantizar el suministro y la transmisión de energía requeridos.\u003C\u002Fp>\u003Ch2>Industrial & Logística\u003C\u002Fh2>\u003Cp>La aceleración del \u003Ca href=\"https:\u002F\u002Fnews.griinstitute.org\u002Fes\u002Fmercado-inmobiliario\u002Fcomercio-electronico-y-nearshoring-impulsan-el-sector-logistico\" target=\"_blank\" rel=\"noopener noreferrer\">\u003Cstrong>comercio electrónico y, sobre todo, la profesionalización de la cadena de suministro continúan impulsando\u003C\u002Fstrong>\u003C\u002Fa> la demanda de espacios modernos. La tendencia hacia la tercerización de operaciones en operadores logísticos especializados ha sido un motor decisivo en la transición desde instalaciones obsoletas hacia edificios de especificaciones superiores. Estas nuevas plataformas exigen altos estándares técnicos -como mayor altura libre, claros amplios entre columnas y sistemas avanzados de automatización y robótica- que permiten optimizar el volumen de almacenamiento y agilizar la circulación de mercancías.\u003C\u002Fp>\u003Cp>La demanda de activos de última milla (last mile), ubicados cerca de los centros urbanos, se mantiene sólida debido a la reducción de áreas de inventario en el comercio tradicional, lo que exige una distribución diaria y más frecuente. En los parques industriales y logísticos, la incorporación de servicios complementarios e infraestructura dedicada al bienestar de los trabajadores se ha vuelto esencial para la atracción y retención de inquilinos.\u003C\u002Fp>\u003Cp>Además del formato hecho a la medida (build-to-suit), se observa un crecimiento en la construcción especulativa de plataformas que combinan grandes superficies con módulos flexibles para acoger a empresas en fase de expansión.\u003C\u002Fp>\u003Cp>Sin embargo, el sector enfrenta cuellos de botella significativos. Las incertidumbres macroeconómicas, los elevados costos de financiamiento y el alza en los costos de construcción condicionan el ritmo de la nueva oferta en ciertos mercados. El principal traba estructural en la región reside en la precariedad de la infraestructura pública, especialmente la escasez y los retrasos en el suministro de energía eléctrica y agua, así como la saturación de las vías de acceso a las grandes metrópolis y puertos.\u003C\u002Fp>\u003Cimg src=\"https:\u002F\u002Fcdn.griinstitute.org\u002Fuploads\u002Fhubnews_inline\u002F62d70cb1b4fa9040324ae0d0fd500ba832c7373fc7dc3dccec316ee3d30a9264.webp\" alt=\"\" \u002F>\u003Cp>\u003C\u002Fp>\u003Cp>El éxito de las inversiones logísticas depende de la ubicación estratégica y de la conectividad eficiente de las redes de transporte, factores que prevalecen sobre los incentivos fiscales temporales. Para garantizar la sostenibilidad del sector, resulta indispensable la alineación de las políticas públicas en la planificación urbana, asegurando la reserva y protección del uso del suelo estrictamente industrial frente a la presión del desarrollo residencial.\u003C\u002Fp>\u003Ch2>Hospitalidad\u003C\u002Fh2>\u003Cp>El turismo continúa siendo un motor de crecimiento sostenido, impulsado tanto por viajes de placer como por reuniones y eventos corporativos. No obstante, el incremento en el flujo de pasajeros no se ha traducido directamente en un aumento proporcional de la rentabilidad, toda vez que el sector enfrenta desafíos como la volatilidad cambiaria, el alza en los costos operativos y de mano de obra, sumados a la creciente competencia de las plataformas de renta de corta estancia.\u003C\u002Fp>\u003Cp>Las oportunidades de desarrollo se dividen principalmente en dos grandes segmentos. Por un lado, el mercado medio (midscale) registra la mayor expansión en términos de volumen de viajeros, presentando un alto potencial en ciudades secundarias y terciarias donde los nuevos proyectos generan un impacto económico relevante a costos de desarrollo más accesibles.\u003C\u002Fp>\u003Cp>Por otro lado, el segmento de lujo y lifestyle demuestra una elevada resiliencia financiera y márgenes más defensivos, dado que el consumidor de alto patrimonio mantiene la disposición a pagar tarifas elevadas a cambio de experiencias personalizadas y auténticas.\u003C\u002Fp>\u003Cimg src=\"https:\u002F\u002Fcdn.griinstitute.org\u002Fuploads\u002Fhubnews_inline\u002F49b2f3af6d32fa322913f5a33953e48a4a08229ccf4d27e79e9e5f85d0b9c9b0.webp\" alt=\"\" \u002F>\u003Cp>\u003C\u002Fp>\u003Cp>En cuanto a las estrategias de expansión, \u003Ca href=\"https:\u002F\u002Fnews.griinstitute.org\u002Fes\u002Fmercado-inmobiliario\u002Flas-mejores-estrategias-para-la-inversion-en-hoteles-en-america-central\" target=\"_blank\" rel=\"noopener noreferrer\">\u003Cstrong>el horizonte se equilibra entre nuevas construcciones y la conversión de activos existentes\u003C\u002Fstrong>\u003C\u002Fa>. La reconversión de hoteles independientes o la adaptación de edificios de oficinas y residenciales emergen como alternativas atractivas para reducir riesgos y acelerar el retorno del capital, aunque exigen flexibilidad en los estándares de marca, plazos de adaptación por fases y adecuación a las normativas de seguridad.\u003C\u002Fp>\u003Cp>Para mitigar la presión sobre los costos y maximizar los márgenes, la gestión hotelera debe enfocarse en la optimización de ingresos adicionales (F&B, bienestar, entretenimiento), así como en la automatización de procesos transaccionales. La integración de tecnología y el uso de datos para personalizar la experiencia del huésped y ofrecer servicios complementarios se han convertido en herramientas indispensables para elevar el ingreso medio por habitación disponible (RevPAR) y asegurar la eficiencia operativa del proyecto.\u003C\u002Fp>\u003Ch2>Residencial\u003C\u002Fh2>\u003Cp>A pesar de que existe un déficit habitacional cuantitativo y cualitativo estructural y significativo en toda la región, esta necesidad no siempre se traduce en demanda efectiva. Este desacople se ve intensificado por las altas tasas de interés, la pérdida del poder adquisitivo de las familias, el elevado costo del crédito hipotecario y la reducción o interrupción de programas de subsidios estatales que respaldaban la adquisición de vivienda propia.\u003C\u002Fp>\u003Cp>El principal obstáculo para la generación de nueva oferta radica en la escasez y el costo del suelo urbanizado; la incidencia de este costo sobre el valor final alcanza niveles que inviabilizan la margen financiera mínima exigida por el sistema bancario.\u003C\u002Fp>\u003Cp>Adicionalmente, los desarrolladores enfrentan severos retrasos burocráticos en el licenciamiento urbano y limitaciones críticas en la infraestructura de servicios públicos, principalmente en el suministro de agua y alcantarillado. En respuesta, grandes empresas han recurrido a instrumentos como planes parciales y esquemas de obras por impuestos para financiar y agilizar la infraestructura de soporte.\u003C\u002Fp>\u003Cimg src=\"https:\u002F\u002Fcdn.griinstitute.org\u002Fuploads\u002Fhubnews_inline\u002Fc34f8736cf0722b60bf4bb9ac8118c292118d74bbbc86f0e09ce1080959f0c2a.webp\" alt=\"\" \u002F>\u003Cp>\u003C\u002Fp>\u003Cp>Otro cuello de botella crítico es la elevada informalidad laboral en la región, la cual impide la bancarización y trazabilidad financiera de las familias. Para integrar a estos compradores al sistema formal, se requiere expandir mecanismos de ahorro programado, fondos de garantía estatal y el uso de analítica de datos por parte de instituciones financieras y fintechs.\u003C\u002Fp>\u003Cp>A pesar de estos desafíos, el segmento residencial demuestra una notable resiliencia, manteniendo niveles de absorción consistentes en aquellos nichos donde la oferta se diseña en función de la verdadera capacidad financiera local. El mayor potencial de crecimiento se concentra en las periferias urbanas de las grandes metrópolis y en el segmento de la clase media aspiracional no subsidiada, donde la escasez de producto estructurado es más acentuada.\u003C\u002Fp>\u003Cp>Para optimizar la estructura de capital, los promotores han recurrido a la diversificación de fuentes de financiamiento, incluyendo capital privado, deuda bancaria, bonos de plazo flexible, tokenización y vehículos de inversión dedicados, lo que permite reciclar capital y atender la demanda habitacional de los próximos años.\u003C\u002Fp>\u003Ch2>Multifamily\u003C\u002Fh2>\u003Cp>El sector se encuentra en etapas de madurez muy distintas entre los países de la región. Mientras algunos mercados del Sur presentan un ecosistema consolidado, respaldado por la participación activa de fondos de pensiones locales y gestoras de activos -como es el caso de Chile-, \u003Ca href=\"https:\u002F\u002Fnews.griinstitute.org\u002Fes\u002Fmercado-inmobiliario\u002Fmultifamily-aun-no-despega-que-se-puede-aprender-de-chile\" target=\"_blank\" rel=\"noopener noreferrer\">\u003Cstrong>otros países continúan dando sus primeros pasos\u003C\u002Fstrong>\u003C\u002Fa>.\u003C\u002Fp>\u003Cp>El principal motor de crecimiento de este modelo reside en tendencias sociodemográficas sostenidas: el incremento de hogares unipersonales, la mayor flexibilidad y movilidad de las generaciones jóvenes y, sobre todo, la pérdida del poder adquisitivo para la compra de vivienda propia, impulsada por los altos costos del crédito e incrementos continuos en los precios de los inmuebles.\u003C\u002Fp>\u003Cp>A pesar de los fundamentos demográficos favorables, el desarrollo del multifamily en la región enfrenta trabas estructurales significativas. El alto costo del capital y la volatilidad de las tasas de interés reducen los márgenes operativos y dificultan la atracción de capital institucional internacional, ya que las tasas de retorno locales compiten en desventaja con el rendimiento de mercados desarrollados, sumándose además el riesgo cambiario. Por esta razón, casi la totalidad del capital invertido en el sector sigue siendo de origen doméstico.\u003C\u002Fp>\u003Cimg src=\"https:\u002F\u002Fcdn.griinstitute.org\u002Fuploads\u002Fhubnews_inline\u002F022e872090291598dee5f912f1de546cf442b4649faf6fecf46e6df5d2c8a5cd.webp\" alt=\"\" \u002F>\u003Cp>\u003C\u002Fp>\u003Cp>El éxito del modelo exige un enfoque distinto al del desarrollo residencial tradicional orientado a la venta. Los desarrolladores deben optimizar la eficiencia de las áreas privadas y priorizar materiales duraderos de bajo mantenimiento, evitando costos innecesarios en acabados de lujo que no se traducen en incrementos proporcionales en el valor de la renta. La creación de valor radica en la oferta de áreas comunes funcionales y, fundamentalmente, en una gestión operativa profesionalizada y centralizada.\u003C\u002Fp>\u003Cp>Adicionalmente, los ejecutivos señalan la rigidez regulatoria y el exceso de burocracia como barreras adicionales en varios mercados. Leyes de arrendamiento que dificultan la restitución rápida de inmuebles en morosidad y exigencias urbanísticas municipales inadecuadas -como la obligatoriedad de cajones de estacionamiento, impuestos y cargas urbanísticas excesivas- encarecen el desarrollo.\u003C\u002Fp>\u003Cp>Para viabilizar la liquidez de los fondos y garantizar el reciclaje de capital en ciclos de altas tasas, los gestores han comenzado a adoptar estrategias alternativas de salida, incluyendo la venta fraccionada de unidades a inversionistas individuales con garantías de administración y renta centralizadas.\u003C\u002Fp>\u003Ch2>Uso mixto\u003C\u002Fh2>\u003Cp>La estrategia de \u003Ca href=\"https:\u002F\u002Fnews.griinstitute.org\u002Fes\u002Fmercado-inmobiliario\u002Fel-uso-mixto-requiere-demanda-previa-para-que-el-comercio-funcione\" target=\"_blank\" rel=\"noopener noreferrer\">\u003Cstrong>los desarrollos de uso mixto responde a la necesidad de densificación y verticalización de las grandes metrópolis latinoamericanas\u003C\u002Fstrong>\u003C\u002Fa>, acercando la vivienda, el trabajo y el entretenimiento bajo el concepto de ciudades más accesibles. Estos desarrollos combinan múltiples usos -como retail, oficinas, residencias, hoteles y espacios culturales- y son señalados como la solución lógica para el crecimiento urbano ordenado y para la atención de nuevas tendencias demográficas, incluyendo el envejecimiento poblacional y la mayor demanda de movilidad sostenible.\u003C\u002Fp>\u003Cp>La estructuración de estos proyectos exige una visión financiera y estratégica de largo plazo, con plazos de desarrollo y maduración que pueden extenderse por más de una década. Por este motivo, su viabilidad atrae a inversionistas institucionales cuyo enfoque esté en la generación continua de flujo de caja y en la apreciación gradual de los activos, en lugar del retorno inmobiliario a corto plazo. El retail actúa como el componente principal y ancla del complejo, siendo el responsable de generar un tráfico constante de peatones y de crear una identidad de destino que eleva las tarifas y las tasas de ocupación de los demás usos.\u003C\u002Fp>\u003Cimg src=\"https:\u002F\u002Fcdn.griinstitute.org\u002Fuploads\u002Fhubnews_inline\u002F2673f375eab30a2a833b02179bde192a8f240485df4953d09bde5aa7010e3387.webp\" alt=\"\" \u002F>\u003Cp>\u003C\u002Fp>\u003Cp>A nivel operativo, la coexistencia de diferentes públicos exige una gobernanza rigurosa desde las etapas iniciales. Es fundamental establecer reglas claras de convivencia, accesos independientes y una gestión separada de los costos de mantenimiento. El modelo integra con frecuencia residencias operadas por marcas hoteleras (branded residences), las cuales alcanzan primas significativas en el precio de venta debido a la percepción de seguridad, la gestión estandarizada y el acceso a servicios exclusivos.\u003C\u002Fp>\u003Cp>Los ejecutivos destacan la importancia de los instrumentos urbanísticos y de las alianzas público-privadas enfocadas en el Desarrollo Orientado al Transporte (DOT). La integración de proyectos de uso mixto en corredores de transporte masivo y estaciones de metro permite capturar la plusvalía del suelo, optimizar el potencial constructivo y generar ingresos no tarifarios para los operadores públicos, además de promover vivienda bien ubicada y la revitalización urbana.\u003C\u002Fp>\u003Ch2>Desarrollo Urbano y Ciudades\u003C\u002Fh2>\u003Cp>Los ejecutivos analizaron un estudio de caso sobre una ciudad planificada desarrollada en la región sur de Guatemala, el cual ejemplifica los desafíos y las estrategias del desarrollo urbano fuera de las capitales. La propuesta transformó un terreno de uso agrícola de 160 hectáreas, ubicado en un polo industrial azucarero, en una comunidad planificada de uso mixto que abarca vivienda, comercio, infraestructura hotelera, espacios corporativos y áreas industriales.\u003C\u002Fp>\u003Cp>La estrategia de viabilidad financiera se fundamentó en el desarrollo progresivo y orgánico del master plan. Inicialmente, el proyecto evitó requerimientos masivos de equity para infraestructura general aprovechando la red vial existente. El desarrollo arrancó con un centro comercial como polo de atracción inicial para comprobar el poder adquisitivo local, seguido por desarrollos residenciales, un hotel ejecutivo de marca propia y un parque industrial de 500,000 metros cuadrados.\u003C\u002Fp>\u003Cimg src=\"https:\u002F\u002Fcdn.griinstitute.org\u002Fuploads\u002Fhubnews_inline\u002Ff73646d19c6b65e6d470f626b2bfa96029b64908a0973d89d280264af8c28070.webp\" alt=\"\" \u002F>\u003Cp>\u003C\u002Fp>\u003Cp>Esta secuencia generó plusvalía inmobiliaria e ingresos operativos que financiaron las fases posteriores, permitiendo proyectar la transferencia del centro urbano municipal al interior del proyecto.\u003C\u002Fp>\u003Cp>El caso ilustra la complejidad de operar en ciudades secundarias y terciarias de América Latina, donde prevalece la escasez de datos estadísticos sobre demanda y absorción, una débil infraestructura pública y una reducida sofisticación en los planes de ordenamiento territorial.\u003C\u002Fp>\u003Cp>Para estructurar el negocio con los propietarios originales de la tierra, la estrategia evolucionó desde sociedades directas hacia el uso de fideicomisos inmobiliarios, un modelo que mitiga las divergencias de visión entre el perfil patrimonial de los propietarios y las necesidades de capital del desarrollador.\u003C\u002Fp>\u003Cp>La conclusión derivada de este experimento es que el desarrollo urbano planificado en nodos regionales secundarios representa una oportunidad prometedora para descongestionar las capitales saturas.\u003C\u002Fp>\u003Cp>La diversificación de usos dentro del mismo proyecto fortalece la estructuración de reservas territoriales (land banking) y maximiza la plusvalía del suelo, demostrando que existe una demanda insatisfecha de vivienda, comercio y servicios estructurados en el interior de la región.\u003C\u002Fp>","\u003Cp>El Andean & Central America GRI 2026, realizado en Bogotá, reunió a líderes del mercado inmobiliario andino y centroamericano para debatir el espectro completo del real estate en la región, desde las perspectivas macroeconómicas hasta verticales específicas como logística, hospitalidad, residencial y multifamily.\u003C\u002Fp>\u003Cp>\u003C\u002Fp>\u003Cp>El sentimiento predominante entre los ejecutivos es de optimismo cauteloso. Existe consenso en que \u003Ca href=\"https:\u002F\u002Fnews.griinstitute.org\u002Fes\u002Fmercado-inmobiliario\u002Flas-tendencias-en-el-mercado-inmobiliario-andino-de-america-central-y-caribe\" target=\"_blank\" rel=\"noopener noreferrer\">\u003Cstrong>los fundamentos macroeconómicos de la región avanzan en una trayectoria favorable\u003C\u002Fstrong>\u003C\u002Fa>, con gobiernos señalizando reformas proinversión privada y bancos centrales manteniendo disciplina monetaria; sin embargo, las barreras estructurales continúan siendo significativas.\u003C\u002Fp>\u003Cp>\u003C\u002Fp>\u003Cp>La inseguridad regulatoria y política se posiciona como el principal obstáculo para atraer capital institucional, seguida por la falta de escala para absorber tickets de gran tamaño y por la baja liquidez en los mercados de salida. La percepción general es que los inversionistas globales aún tratan a América Latina como un bloque homogéneo, por lo que corresponde a los gestores locales educar al capital internacional sobre las particularidades de cada jurisdicción.\u003C\u002Fp>\u003Cp>\u003C\u002Fp>\u003Cp>Las sesiones temáticas revelan dinámicas distintas por clase de activo. Logística e industrial son los segmentos de mayor convicción, impulsados por el e-commerce y la demanda de operadores de última milla. El modelo multifamily es visto como una tesis prometedora, aunque aún en fase de validación institucional en la mayoría de los mercados. Hospitalidad despierta interés en reconversiones y reposicionamiento de activos, mientras que el mercado residencial expone la tensión entre el déficit habitacional y la incapacidad de convertir esa necesidad en demanda efectiva.\u003C\u002Fp>\u003Cp>\u003C\u002Fp>\u003Cp>\u003Cem>\u003C\u002Fem>\u003Ca href=\"https:\u002F\u002Fwww.griinstitute.org\u002Frealestate\u002Fevent\u002Flatin-america-gri-real-estate-2026-miami-edition_5323\" target=\"_blank\" rel=\"noopener noreferrer\">\u003Cem>\u003Cstrong>Las inversiones inmobiliarias en la región vuelven a debatirse en el Latin America GRI Real Estate - Miami Edition. Consulte la agenda.\u003C\u002Fstrong>\u003C\u002Fem>\u003C\u002Fa>\u003Cem>\u003C\u002Fem>\u003C\u002Fp>","\u003Cul>\u003Cli>La inseguridad política y regulatoria es la principal barrera para atraer capital institucional a la región, superando factores como escala, liquidez y costo de financiamiento, según el GRI Barometer realizado durante el evento.\u003C\u002Fli>\u003Cli>El segmento logístico e industrial presenta una demanda superior a la capacidad productiva en mercados como Chile y Panamá, con operadores demandando volúmenes equivalentes a 1.5 veces la producción anual de activos Clase A en Santiago.\u003C\u002Fli>\u003Cli>El multifamily aún enfrenta un desacople entre los cap rates de desarrollo y las expectativas de los inversionistas institucionales globales, lo que hace que la tesis dependa del capital doméstico y de estrategias creativas de desinversión, como la venta fraccionada a inversionistas individuales.\u003C\u002Fli>\u003C\u002Ful>","Spotlight Report: Andean & Central America GRI 2026","inversión inmobiliaria, escala, certeza jurídica, mercado de capitales, tendencias, Andes, Centroamérica","Capital latinoamericano busca escala en medio de la fragmentación de mercados; Ejecutivos de los Andes y Centroamérica señalan oportunidades en logística, multifamily y uso mixto","https:\u002F\u002Fcdn.griinstitute.org\u002Fuploads\u002Fhubnews\u002F414c82e8a54e0ccae584d52fa0f52abe5b266207799d4b2d35a1c0f1c6f63123.webp",{"code":23},{"id":25,"color":27,"translations":1442},[1443,1445,1447],{"title":26,"slug":30,"language":1444},{"code":13},{"title":37,"slug":38,"language":1446},{"code":18},{"title":33,"slug":34,"language":1448},{"code":23},[1450,1458,1466,1474],{"id":47,"label":1266,"translations":1451},[1452,1454,1456],{"label":1266,"slug":1277,"language":1453},{"code":13},{"label":1280,"slug":1281,"language":1455},{"code":18},{"label":1284,"slug":1285,"language":1457},{"code":23},{"id":49,"label":1178,"translations":1459},[1460,1462,1464],{"label":1178,"slug":1189,"language":1461},{"code":13},{"label":1192,"slug":1193,"language":1463},{"code":18},{"label":1196,"slug":1197,"language":1465},{"code":23},{"id":85,"label":1156,"translations":1467},[1468,1470,1472],{"label":1156,"slug":1167,"language":1469},{"code":13},{"label":1170,"slug":1171,"language":1471},{"code":18},{"label":1174,"slug":1175,"language":1473},{"code":23},{"id":65,"label":1200,"translations":1475},[1476,1478,1480],{"label":1200,"slug":1211,"language":1477},{"code":13},{"label":1214,"slug":1215,"language":1479},{"code":18},{"label":1218,"slug":1219,"language":1481},{"code":23},[1483,1485,1488,1490,1493,1495,1497],{"name":220,"enName":220,"ptName":220,"iso2":1484},"CL",{"name":233,"enName":233,"ptName":1486,"iso2":1487},"Colômbia","CO",{"name":249,"enName":249,"ptName":249,"iso2":1489},"CR",{"name":290,"enName":290,"ptName":1491,"iso2":1492},"República Dominicana","DO",{"name":386,"enName":386,"ptName":386,"iso2":1494},"GT",{"name":664,"enName":664,"ptName":664,"iso2":1496},"PA",{"name":676,"enName":676,"ptName":676,"iso2":1498},"PE",[1500],{"name":1501,"slug":1502,"image":1503,"order":115},"Henrique Cisman","henrique-cisman","https:\u002F\u002Fcdn.griinstitute.org\u002Fuploads\u002Fhubnews_author\u002FHenrique_Marcal_Cisman_GRI_Institute_Profile_PIC_2025_11_04_11_31_12_1762266672.jpg",{"es":1505},"\u002Fmercado-inmobiliario\u002Fspotlight-el-capital-latinoamericano-busca-escala-en-la-region",[1507,1508,1509,1510,1511,1512],"Infra Brazil","Infra Latam","Real Estate Brazil","Real Estate Europe","Real Estate India","Real Estate Latam"]