Book a plane ticket to Colombia.
Hop your flight… When you land you’ll be twice as wealthy as you are right now.
No kidding.
At home anywhere in this big beautiful country, your expenses could be cut by 50%.
The cost of living is incredibly, unbelievably low…
And the dollar is riding high. If the Greenback is your base currency, you’re positioned for a significant currency discount.
What’s perhaps even more remarkable is that your quality of life would likely improve. Remember, Colombia is probably not what you’re expecting.
The truth is, this country offers a top-tier international-standard lifestyle… and that’s true whether you chose to live on one of its Caribbean beaches or in one of its many charming cities.
I’d recommend one city in particular. It’s one of my favorite in the world.
I’m talking about Medellin.
I first identified Medellín as a peaceful and affordable haven for expats and retirees in 2009.
Back then, I was called crazy and worse.
Isn’t Medellin a violent place at the mercy of cartels?
That’s very old news.
Pablo Escobar died more than 30 years ago!
Since then, Medellin has reinvented itself to become one of the world’s most pleasant places to live.
These days, The New York Times, Lonely Planet, Fox News, CNN, and even the AARP agree with me. So do increasing numbers of tourists, expats, and investors from around the world.
Medellín is booming. A record number of tourists visited Colombia last year, and Medellín welcomed a huge percentage of them.
More and more people are attracted by Medellín’s perfect weather, super low cost of living, excellent health care, and endless cultural entertainment options (including fine dining, festivals, museums, and more).
It’s a compelling list of attributes that, altogether, provides an above-average standard of living. Medellín is far and away my top lifestyle choice in South America…
But it’s also a smart choice right now for real estate investors…
A Booming Economy And Tourism Growth
Colombia’s economy has experienced historic growth over the past 10 years.
Real gross domestic product increased from $250 billion in 1990 to $800 billion in 2024. Over that period, poverty has decreased by an average of 1.4% per year.
Colombia has the world’s fastest-growing information technology industry, one of the biggest shipbuilding industries outside Asia, and the longest fiber-optic network in the world.
Colombia welcomed 5.8 million tourists in 2023—a 24% increase from 2022 and a 174% increase from 2021.
Medellín, specifically, has a growing reputation as a safe and affordable place to visit and is well-connected globally, with two international airports and direct flights from the United States as quick as 3.5 hours.
Urban Innovation And Lifestyle Appeal
Medellín has worked hard to earn its emerging place on the world stage. It’s widely recognized as the “Most Innovative City In The World” because of advances made in social and urban development, public transportation, and education.
Among its most celebrated achievements is the Medellín Metro, a public transportation service that over 500,000 people use every day. It’s estimated to reduce the city’s CO2 emissions by 175,000 tons every year.
But the Metro is more than just a people-mover. It’s had a profound effect on the city’s poverty and crime rates because it opens doors to people in hard-to-reach districts that were previously disenfranchised.
Medellín has a track record for identifying problems, coming up with unique solutions, and implementing them…
In 2016, it launched its “green corridors” initiative to address air pollution and the urban heat island effect. This involved connecting the city’s green spaces by planting millions of plants and trees… and it actually worked. Temperatures dropped by 2 degrees across the city.
Medellín has also made major advancements in health care and is now a world-renowned medical tourism destination. Six of the best hospitals in all of Latin America are in this city alone.
These positive innovations have enhanced Medellín’s lifestyle appeal and caught the attention of UNESCO, the UN, the Rockefeller Foundation, and other global institutions that have heaped accolades and awards on Medellín.
It makes sense that this city has become so popular with tourists, expats, and a relatively new type of visitor: remote workers.
These laptop-based workers come to take advantage of the affordable living costs and solid infrastructure, including high-speed internet.
As one Medellín-based digital nomad puts it, “Living here, I can afford to pay someone to clean and someone else to cook for me, meaning my time really is my own.
“But the real benefit of living in Medellín isn’t the low cost… The real advantage is the high standard of living—nice apartments, nice restaurants, nice everything. The people are great too!”
Affordable Real Estate With High Growth Potential
More tourism and higher numbers of expats and remote workers in Medellín are boosting demand for short-term rentals, creating profitable opportunities for investors.
Real estate prices per square meter in Medellín are among the most affordable in the region, at $1,688. This is substantially less than Buenos Aires, Argentina ($1,900); Mexico City, Mexico ($2,401); and Panama City, Panama ($2,598).
Construction standards are high, and you can afford far better digs here than back home, including modern, well-appointed apartments… even penthouses.
I made my first investment in a luxury apartment in El Poblado, in the heart of Medellin, in 2010, and I’m factoring spending time in this lovely city into my roving retirement plan.
El Poblado continues to be the neighborhood I recommend first for real estate investment. It’s the most sought-after area of the city, home to excellent restaurants, chic cafés and bars, top-tier shopping, and a lot of wealth.
Foreigners flock here, and rental returns are among the highest in the city. Rental yields are strong at about 8%… and in the right location with the right connections on the ground, they can be much higher.
Why Medellín Is A Smart Investment Choice
Foreigners enjoy the exact same property rights as locals in Colombia, and the purchase process is clear and easy.
Investing in real estate can also come with perks, as Colombia offers a real estate investor visa. If you invest 350 times the minimum salary (about $125,000), you qualify for a residency permit. This can put you on the path to a second passport as well.
Until next time,
Kathleen Peddicord
Founding Publisher, Overseas Opportunity Letter
