"Escobar has caused a lot of trouble for the city of Medellin, but, the truth is, he's also providing a service for us global property investors. He's keeping prices down. Real estate prices in this city are seriously undervalued because the world doesn't understand what this city really is. And that's all thanks to Pablo. "What is Medellin really?" Rich asked the crowd. "It's Latin America's best-kept secret. "Who here has been to Medellin?" Eight or nine people raised their hands. "OK, great. Keep your hands up," Rich instructed. "Now, everyone else in the room, take note of those with their hands raised. At the break, ask those folks what they thought of Medellin. "I'll save you the suspense of waiting for their answers. I'll tell you now what they all thought of Medellin. They loved it. "How do I know? I know because I have never met any expat who has visited Medellin and didn't love it. The challenge isn't selling Medellin to anyone who has ever seen it. The challenge is getting people to go take a look. Once you've seen it, the city sells itself." Thanks to Medellin's status as the world's best-kept property investment secret, you can buy here, at the best addresses in town, for as little as US$800 per square meter...and you can rent for a net yield of 8% a year. In addition to that ongoing cash flow, you've got the potential for currency upside (which, yes, can also go against you...though it's worth noting that the Colombian peso is up 35% against the U.S. dollar since 2009 and is expected to continue on an upward course) and capital appreciation. As Lief told the group this morning, "When investing in a rental property anywhere in the world, you don't want to count on appreciation. Make your buy decision based on your yield and cash flow projections. Then any capital appreciation you may enjoy is the icing." That said, property values in Medellin have increased a steady 5% to 7% per year for the past five years (fear of Pablo notwithstanding), and we expect this trend to continue for several years more. A rental property investment in Medellin buys you a hard asset in a market with an expanding middle class and an appreciating currency. It also buys you a pied-a-terre in one of the world's premier cities. Lucky for you, few others have figured this out. Yet. Kathleen Peddicord P.S. As I explained yesterday, Lief Simon and I are convened this week with two-dozen of the world's most seasoned and savvy global property experts for our First Annual Global Property Summit. Together, they are introducing the assembled group to the world's best places to buy real estate overseas right now...including Medellin, Colombia. As always, we're recording every presentation, workshop, Q&A, and panel discussion from this one-of-a-kind event. These will be bundled to create our all-new "Your Dream Home Overseas: The How To Buy, Own, And Profit From Foreign Property Program," which will be released within two weeks of the finish of this week's conference. Meantime, you can reserve your copy prerelease for more than 50% off the regular price. Do that here now.
Kathleen Peddicord'sNew Book
An Expert Guide To The Advantages And The Challenges of Investing In Real Estate Overseas..." Learn More
Sign up to receive free dailydispatches from the "Guru of Overseas Retirement and Opportunities"
Kathleen Peddicord is the founder of the Live and Invest Overseas publishing group. With more than 25 years experience covering this beat, Kathleen reports daily on current opportunities for living, retiring, and investing overseas in her free e-letter.
Her book, How To Retire Overseas—Everything You Need To Know To Live Well Abroad For Less, was recently released by Penguin Books.
Read more here.
Sign up for the Overseas Opportunity Letter
Receive our editor's latest research reports...absolutely FREE!
The Best Places For Living And Investing in the World for 2014
Receive a FREE copy of
The Six Cheapest Havens
To Retire In 2014
Discover the six best places in the world right now to live better and retire well...on as little as US$700 a month!
“We will not share or rent your email address to or with anyone else, period!”
Hey, I'm already a reader of Kathleen's e-letter. I don't need to see this popup ever again.