Santa Marta, Colombia

Foremost is the sunset. It caught me by surprise. When that huge orange ball drops slowly into the emerald-green sea, it brings the beach areas to a halt as everyone stops to watch.

And it isn’t the only thing to like about Santa Marta.

Warm, dry temperatures, days spent on the white-sand beaches under swaying palms… safe swimming and great diving…this Colombian city is a Caribbean hideaway—but without the usual Caribbean price tag.

It’s a place where you can still buy a three-bedroom apartment near the beach for less than $57,000…and a large, three-bedroom apartment right on the beach for under $130,000.

Of all the super values in Colombia, I believe the richest opportunities are in Santa Marta. Here in Colombia’s oldest city, the potential is big and multi-faceted.

Santa Marta is carved into the Caribbean coast on the north side of the country. Its harbor is well-sheltered, keeping the waters clear and calm. The island of El Morro serves as the centerpiece of the area, rising from the blue waters just offshore with a handful of luxury homes carved into its rocky sides, and yachts moored around its perimeter.

Santa Marta is a unique destination in my experience. The dry heat is unusual for the Caribbean. Although temperatures were in the low 90s when I was there, the gentle off-shore breezes kept me comfortable. And rainfall here is scant: around 13 inches per year.

The costs of living, entertainment and properties are low in Santa Marta…lower than any Caribbean outpost that I’ve been to in my travels.

Santa Marta is not glitzy, and it’s not a playground for the rich and famous. It’s simply a place where Colombians come to enjoy a holiday at the seashore, and to have a good time with friends and family.

Colombians are most proud of Cartagena, and justifiably so…but when it’s time to vacation, they come here, to Santa Marta.

Great Diving, Brilliant Beaches

The greater Santa Marta region spans the 12 miles from Tabatinga in the north to the airport in the south, and includes several key areas.

Taganga will take your breath away when you first crest the hill and lay eyes on this tiny jewel of a fishing village and the deep blue bay that it sits on. The beach is long and unspoiled, and visitors stroll the length of the new boardwalk day and night. Taganga’s bay is terrific for diving and snorkeling, and you’ll see a number of dive shops and excursions available.

Santa Marta (the city) was a complete surprise. My guidebook said to avoid it, as it was rundown…but what I found instead was a downtown district that’s definitely on the move.

Santa Marta has developed its waterfront, and it now has a green, well-kept park and boardwalk along its length from which you can watch the cruise ships coming and going from its harbor. And the city has tastefully restored several of its parks to their original beauty, along with a number of historic buildings.

But the big news in Santa Marta is the $8-million, 256-boat marina project, already under construction. And the marina has in turn inspired a number of new projects along the shore, such as condos, shopping, etc.

I think the city of Santa Marta has the most upside potential in the region right now. And the cost of entry is low, at less than $50,000.

El Rodadero lies about 10 minutes south of Santa Marta, and it’s been the main draw in the area for years. The beaches are nicer than Santa Marta’s, and it offers a small-town feel that you won’t find in the city.

On the oceanfront is a fine sandy beach lined with palm trees. There’s also a bustling palm-shaded “boardwalk” where you can get everything from fresh-made pizza to fresh-squeezed fruit juice in the little kiosks.

Weekend nights turn into an impromptu beach party. Families turn out by the hundreds to enjoy the local music of wandering bands…and vendors keep them supplied with pizza, shish-kabob, and snow cones.

Rodadero Sur, Playa Salguera, Pozos Colorados and Bello Horizonte are also south of Santa Marta, between El Rodadero and the airport. (Bello Horizonte has the widest beach I saw in the area.) These sectors feature quiet, well-tended and more-exclusive beaches than you’ll see in Santa Marta or El Rodadero. They’re also the site of quite a few new, upscale condo buildings and some good pre-construction buys.

The Best Opportunities

I see Santa Marta’s market appreciating for two reasons. First, more mainstream buyers will show up as Colombia’s tarnished image fades into history. This will increase the demand in Santa Marta, as well as throughout Colombia. The area’s broad appeal will attract second homeowners, retirees and investors.

And Santa Marta is a small market, so supply here is limited. Clean property titles on vacant land are hard to find, so new construction has been constrained. Even a moderate influx will move the market.

The market starts at $31,795 for a simple one-bedroom apartment under 500 square feet, three blocks from the beach in El Rodadero…in a fairly new complex.

The best buy in El Rodadero right now is a large 2,736-square-foot, 8th-floor apartment with two balconies, each offering a sea view. With three bedrooms and three bathrooms, the asking price is $128,200—that’s just $505 per square meter. And right on the beach, I found a 10th-floor, 1,443-square-foot, three-bedroom, three-bath apartment with ocean-facing balconies in both the living room and the master bedroom, for an asking price of $143,500.

A three-bedroom, two-bathroom apartment just 1.5 blocks from the beach with an ocean-view balcony is $56,400. It is old-fashioned, but in good shape.

An older house just seven blocks from Santa Marta’s new marina, with four bedrooms, two bathrooms and a 730-square-foot garden out back is an amazing $46,200.

South of El Rodadero is where you’ll find most of the new construction. The waterfront pre-construction prices I was quoted averaged $1,675 per meter, and varied according to the floor and its view.

In the Rocca di Mare project, the 1,195-square-foot unit was going for $191,800, with two bedrooms and two bathrooms, in a luxury building with high-end amenities. The prices jumped 6.5% once ground was broken, and you can count on another hefty jump when construction is complete.

One of the best sea views I saw was on the beach in the upscale El Rodadero Sur. In a luxury building the 1,239-square-foot, 14th-floor unit has two bedrooms and two bathrooms. The asking price is $169,200.

Is Santa Marta For You?

I’d recommend the areas south of El Rodadero for those looking for pre-construction deals or a bit more peace and quiet. As a retiree, however, I’d prefer the larger population centers of El Rodadero or Santa Marta, as there’s generally more going on, and plenty of services within walking distance.

I’d favor El Rodadero as a good resort in which to operate a rental property, and I’d look to Santa Marta (city) for the most upside potential right now.

But regardless of your objective, you can count on Santa Marta to deliver a lot of Caribbean charm for your money.

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Lee’s Contacts in Santa Marta

For information on the properties mentioned here, contact Mauricio Jaimes (e-mail: mauricioj@buycolombiarealty.com; website: www.buycolombiarealty.com) or Efrain Negrette-Torres (e-mail: efrainegrette@yahoo.com; website: www.miapartamentoensantamarta.com).

Mauricio speaks English and French as well as Spanish, while Efrain speaks Spanish. Both gentlemen were a pleasure to work with.

To be secure in your purchase, you should buy through a good attorney. I’ve worked with Ricardo Vélez Benedetti. To contact Ricardo, e-mail: ricardo@velezbenedetti.com. For more information, see his website: www.velezbenedetti.com.

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A Culinary Discovery: A Shrimp-Lover’s Delight

When you’re exploring Santa Marta, be sure to plan a meal at the large, open-air restaurant Gran Manuel, on Calle 28 and CRA 1. Their cazuela de camaron (shrimp stew) is the best I’ve ever had…and I’ve tried this dish countless times around the region.