The Cost Of Buying A Rental Property In Medellin, Colombia

“Kathleen, I’m interested in going to Colombia in May for your conference in Medellin on investing there.

“First, though, could you give me an idea of property prices in the two or three best parts of the city, so that I may be able to decide whether I’m able to afford to invest there?

“I’d be looking to buy at least two two-bedroom apartments. I speak fluent Spanish and am a conference translator with French and English. I’m also an experienced landlady in London, running my own rental management company.

“I’d also like to have an apartment for my husband and myself to stay in during our winter months here in the UK.”

–Shirene C., United Kingdom

Apartment prices in El Poblado, the best address in this city, range from as little as US$1,000 for something older to US$2,000 for something new-built. Two-bedroom apartments are plentiful, and you should be able to find one to meet the criteria you describe for as little as US$100,000 (up to, say, US$150,000, depending on the size).

As you speak Spanish, you could do better than those prices if you search through newspaper and other local ads.

And, yes, you should have no problem repatriating both income and capital as long as you document the investment properly from the start. For this, we recommend seeking the help of an experienced Colombian attorney. We’ll introduce you to our preferred attorney in Medellin (our personal attorney in this city) at the conference in May.

Continue Reading: Retire To Penonomé, Panama or Medellin, Colombia, Named World’s Most Innovative City