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Top Property Investment Markets In Colombia

Kathleen Peddicord by Kathleen Peddicord
May 22, 2014
in Real Estate
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Cartagena, Colombia, is one of the Top Property Investment Markets In Colombia.
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Cartagena Calling

Cartagena is the most visited spot in Colombia. It’s also perhaps the top choice in this country right now for an investment in a rental property. There has been and will continue to be steady growth in this city both in property values and in the number of tourists shopping for short-term accommodation here.

Cartagena is a branded city. This isn’t Paris or London, but the name Cartagena is recognized the world over. It doesn’t really matter what goes on in the rest of Colombia or even the rest of the world. Premium cities like this one carry on.

Not only is Cartagena an established city on the world map, it’s also a rapidly improving destination. Five new hotels and two new shopping malls are under construction, each an effort by foreign investors to capitalize on the expanding tourist figures. The city is enjoying expanding air service, as well, including discount direct flights from New York. Cartagena is also an increasingly popular cruise destination.

All of this in a walled city…meaning limited space for continued development. In other words, there’s growing demand but restricted supply.

Note, as well, that there are no restrictions on short-term rentals in Cartagena (as there are in Medellin, for example).

What could you buy? This is the most expensive property market in this country (thanks to its long-standing global appeal), so you could spend US$3,000 per meter or more. That’s the bad news. The good news is that a successful rental investment could still be made for less than US$100,000, as short-term rentals are typically small here. A renovated studio frontline to the ocean and in the most sought-after neighborhood for rentals is currently on the market for the equivalent of US$95,000.

The cheapest property market in Colombia? That’d be Cali, where you can buy for as little as US$750 per square meter. Next cheapest on a per-square-meter basis is the colonial city of Popayan (US$800 per square meter)…followed by our favorite destination in this country, Medellin, where current values in the best neighborhoods average US$1,500 to US$1,600 per square meter.

Kathleen Peddicord

P.S. These figures and overviews are excerpted from the series of property presentations given by Colombian property experts and investors during this week’s Live and Invest in Colombia Conference in Medellin. Lots of specific current property examples were shared, including top current buys both for personal use and for investment, in key markets across the country.

Continue reading: How To Retire To Cuenca, Ecuador

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Tags: 'Property In Cartagena''Property In Medellin'Invest In CaliInvest In Cartagenainvest in colombiaInvest In MedellinProperty In CaliProperty In Colombia
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Kathleen Peddicord

Kathleen Peddicord

Kathleen Peddicord has covered the live, retire, and do business overseas beat for more than 30 years and is considered the world's foremost authority on these subjects. She has traveled to more than 75 countries, invested in real estate in 21, established businesses in 7, renovated historic properties in 6, and educated her children in 4.

Kathleen has moved children, staff, enterprises, household goods, and pets across three continents, from the East Coast of the United States to Waterford, Ireland... then to Paris, France... next to Panama City, where she has based her Live and Invest Overseas business. Most recently, Kathleen and her husband Lief Simon are dividing their time between Panama and Paris.

Kathleen was a partner with Agora Publishing’s International Living group for 23 years. In that capacity, she opened her first office overseas, in Waterford, Ireland, where she managed a staff of up to 30 employees for more than 10 years. Kathleen also opened, staffed, and operated International Living publishing and real estate marketing offices in Panama City, Panama; Granada, Nicaragua; Roatan, Honduras; San Miguel de Allende, Mexico; Quito, Ecuador; and Paris, France.

Kathleen moved on from her role with Agora in 2007 and launched her Live and Invest Overseas group in 2008. In the years since, she has built Live and Invest Overseas into a successful, recognized, and respected multi-million-dollar business that employs a staff of 35 in Panama City and dozens of writers and other resources around the world.

Kathleen has been quoted by The New York Times, Money magazine, MSNBC, Yahoo Finance, the AARP, and beyond. She has appeared often on radio and television (including Bloomberg and CNBC) and speaks regularly on topics to do with living, retiring, investing, and doing business around the world.

In addition to her own daily e-letter, the Overseas Opportunity Letter, with a circulation of more than 300,000 readers, Kathleen writes regularly for U.S. News & World Report and Forbes.

Her newest book, "How to Retire Overseas: Everything You Need to Know to Live Well (for Less) Abroad," published by Penguin Random House, is the culmination of decades of personal experience living and investing around the world.

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