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Prices And Lifestyle Are Now Better Than Ever In Medellín

You Have 90% More Buying Power Here— It’s A Chance For Jet-Set Living On A Social Security Budget

Kathleen Peddicord by Kathleen Peddicord
Jun 07, 2020
in Colombia, Retirement/Living
0
medellín antioquia

Image Source: iStock/Luis Echeverri Urrea

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I’ve been covering this beat for more than 30 years, and I’m here to tell you now that this country meets all my criteria for a top choice for retiring, living, investing, or owning a second home overseas.

That’s a big claim… and one that I don’t make lightly.

You and hundreds of thousands of your fellow readers count on me to give it to you straight, and I take that responsibility seriously. I’ve built a reputation that means a great deal to me, so I don’t say something that isn’t true… and I don’t paint everything as rosy.

I identified this destination as one of the best places in the world to spend your time and your money about twelve years ago. At the time, people called me crazy for making the recommendation I began making.

No matter. I developed a thick skin long ago.

I was the first to recommend Costa Rica as a top retirement haven. The first, too, to suggest people think about living or investing in Belize… in Panama… and in Ecuador…

In time, though, in every instance, my recommendations have evolved from nutty to prophetic.

This most recent case is no exception. Now, 12 years later, many others are suggesting that this long misunderstood location is in fact one of the most appealing places on Earth…

Not to mention one of the world’s most interesting investment markets right now.

Where am I talking about?

Colombia… specially the mountain city of Medellín.

I identified Medellín more than twelve years using the same rigorous approach that I’ve always followed. Based on my research and my on-the-ground investigations, I predicted, starting in 2008, that Medellín was on track to become one of the world’s most sought-after destinations, for both living and investing.

Today I’m very happy to say that many others are making the same claims. This is great news for little Medellín, who has worked hard to earn this emerging place on the world stage.

Specifically, Medellín offers:

  • Perfect weather, requiring no heat or air conditioning…
  • World-class health care…
  • A rich cultural scene, with theater, orchestra, and exciting events…
  • An affordable cost of living…
  • Absolutely low property cost…
  • Great investment potential, for both the capital gain and the income investor…

I’ve never seen a place that holds such exciting opportunity for retirees, entrepreneurs, and property investors. But that’s exactly what I found when I finally took the advice of persistent friends who’d been nagging me for years to come see this place for myself.

Since my first visit, I’ve made dozens of return trips…

I’ve bought my own home here…

And I’m actively searching for my next investment buy…

What’s more, my family and I have even re-thought our overall long-term retirement plan to include this beautiful, delightful city… that’s how impressed we are with what we found in Medellín.

And, again, I’m happy to say that it’s not just me. Retirees are starting to move here in unprecedented numbers… they’re buying property… they’re managing rentals… they’re reinventing their lives in this charming, welcoming, Euro-chic city.

In my considerable experience, this is one of the best places on earth today to establish your foothold overseas.

How can I make such a bold claim with confidence?

Finding these opportunities is my life’s work. I’ve been at this for more than three-and-a-half decades, and I’ve seen the evolution of destinations like this before.

It isn’t often that such a strong opening presents itself… and it’s even less often that we recognize the opportunity when it’s on the table.

Over the years, I’ve been on the ground early, urging readers and friends to get in ahead of the crowd. I’ve sounded the call for most every market that has emerged over the past three decades as a top retirement and investment haven… places like Costa Rica, Roatán, Belize, Ecuador, Ireland, and Uruguay… and even the explosions in Panama City and Boquete.

But, to be honest, I‘ve also missed opportunities… times when I wasn’t able to act quickly enough to get in on the ground floor.

That’s why I moved so fast here… I won’t take a chance on missing what may be the biggest find of all.

Perfect Timing: Today’s Buyers Have 90% More Buying Power Than They Had Just A Few Years Ago

The U.S. dollar is at historically high levels, which has dramatically increased the buying power of Americans buying in Colombia.

The strong dollar has resulted in a steep currency discount, making Colombian properties more affordable than they’ve been for many years. Savvy North Americans are buying in record numbers, with some prime markets seeing as much as a 10-fold increase in volume.

With 2013 as a baseline, current buyers have 90% more buying power… thanks to today’s favorable exchange rate.

For investors, your opportunity to earn in Colombia now is twofold: the capital gains have been dramatic over the past few years… and when the dollar enters its next downward cycle, your gains will be multiplied, in dollar terms, by the strengthening peso.

And it’s not just real estate investment benefitting from today’s exchange rate.

That upscale dinner that cost you US$100 a few years back is now just US$55.

That’s a huge reduction, that also applies to your groceries, property taxes, HOA fees, and everything you spend money on.

This means you can live a luxury lifestyle—including theater, orchestra, fine dining, bistros, and cafés—without spending a fortune.

Jet-set living on a Social Security budget.

Kathleen Peddicord

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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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