I have to say that I like Colombia. It’s beautiful, easy to get in (Colombia loosened entry restrictions two days ago), there are many immigration programmes, real estate is affordable, and it’s a generally fun place.
I wrote in the past about real estate in Medellin (interesting), Bogota (not interesting), and Cali (interesting).
I challenged my Swedish realtor, Mauricio, to show me something different from the usual apartments with stunning views (as per our previous video together here).
He showed me this house going for $100,000, in Laureles, one of the best neighbourhoods in Medellin. Granted, it’s a modest home. But one can obtain very reasonable yields, at a low price point and low price per square meter / foot, and because it’s an independent house the investor does not have to deal with expensive homeowner fees.
Also, the yearly property tax is $100 (!)
You can watch the video here. We also did a full net rental yield calculation.
Medellin is unique because of high yields and great lifestyle
It’s quite hard to find markets where the yields are high, and yet the lifestyle on offer is also great. What makes Medellin particularly appealing is that the city has amazing weather all-year round, so there is a lot of tourism and you can use your apartment whenever you choose to without massively compromising your rental returns.
However do monitor the upcoming presidential elections in Colombia. A win by Petro, the socialist candidate, would have an impact on potential capital gains, though I doubt it would deter tourism in the short to medium term.
Feel free to get in touch with Mauricio here. He can help you with your real estate investment needs in beautiful Medellin.
To a World of Opportunities,
The Wandering Investor
Other articles on Colombia:
- Is it too early to make a Real Estate Investment in Bogota, Colombia?
- Making a Real Estate Investment in Cali, Colombia – the next frontier?
- Making a Real Estate Investment in Medellin, Colombia – unusually high yields
- Actual Capitalization Rates / Rental yields in Medellin
- Penthouse Investing with High Yields in Medellin
- Is Colombian real estate still investable following the election of Gustavo Petro?
Other services in Colombia:
- Real Estate Lawyer in Colombia
- How to obtain residency in Colombia
- My favourite real estate agent in Medellin
If you want to read more such articles on other real estate markets in the world, go to the bottom of my International Real Estate Services page.
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