Over the last 20 years there have been advances in changes to the legislation surrounding water resource management in several Latin American countries, with the objective of improving the government's role in water protection through more active participation on the part of the private sector in the provision of utilities, essentially through the use of a market-based mechanism.The main objective of this paper was to analyse the feasibility of creating a water market in Colombia, provided that the three necessary conditions for the commercialisation of this resource exist: property rights distribution, public information of demand and supply of water rights and the physical and legal feasibility of executing this exchange.