Real Estate News, Reviews and Investment
Article: The peace and stability of Colombia and the prices make real-estate investing attractive.
In Colombia, you can buy real estate cheap and achieve an 8% return on your investment from a rental. You may also benefit from the exchange rate because local real estate transactions are denominated in local pesos.
It is amazing how much Colombia has changed. 15 years ago, it was the last place you would think of real-estate investment because it was a country in real trouble. Leftist guerillas controlled large parts of the country especially in the jungle and clashed frequently with the armed forces and many of the major cities were controlled by the drug cartels.
Now, the middle class is on the rise and getting wealthier and Medellin, once described as the murder capital of the world, is a completely changed city.
This transformation has not happened overnight and Colombia has not yet left all its problems behind. You would still have problems operating in the jungles or in remote areas.
The best place to buy property in Colombia
In the up market Medellin areas of El Poblado and the Golden Mile, a high quality condo measuring 1000 ft.² could cost you as little as USD $100,000.
The cafés here remind you of Europe and your don’t have to worry about the weather since the temperature varies only 1° throughout the year
The bottom line
Colombia seems to have returned to a stable period of existence and I believe that property prices are set to grow strongly over the next five to 10 years. While you are waiting for this to happen, you would be achieving a yield of 8% on your investment.