This study offers a comprehensive history and thorough analysis of housing policy in Colombia. Its emphasis on the upgrading approach – i.e., home retrofitting and holistic neighborhood improvement – is a novel paradigm for the country. This document is intended to be used as a technical support for the development of a more balanced housing policy in Colombia and, in the coming years, for other Latin American countries as well. As Colombia reckons with the severe social and economic impacts of the COVID-19 pandemic, a successful housing policy will be a crucial factor in its recovery and beyond.