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
