Editor's Pick—Top Rental Investment Opportunity In Our Favorite Emerging Market
Nov.11, 2014, Medellin, Colombia: Envigado is an emerging market of opportunity in Medellin, Colombia, and a top place to invest in a rental property.
Dear Live and Invest Overseas Reader,
We don't normally report on individual real estate listings in these dispatches, but Kathleen asked me to write to you today about an unusual opportunity in Medellin, Colombia, in an area that's been on the upswing for the past two years.
A small, three-story townhouse in Envigado has just come on the market, and it's the first of its kind that I've seen for sale. The price is good, and the property is well suited for rental. The forecast net return works out to between 6.8% and 8%.
We've written about Envigado in the past. This is the municipality adjacent to Medellin's more famous El Poblado. Over the past couple of years, the Envigado area known as Barrio Jardines has come into its own. This friendly, shady neighborhood has built a reputation as a gourmet restaurant district. New and more upscale restaurants are opening all the time. As a result, Barrio Jardines is drawing increased attention from foreign investors, travelers, and property buyers.