Medellín is one of Colombia's most attractive cities.

The morning sunshine is streaming through the open window as I grind rich Colombian coffee bought yesterday at the local shop. Every new day here starts with inspiring views as sunlight spills over the hillside towns on the far side of the valley.

Walking through our front gate, I wave to our doorman, who smiles with a polite “Buenos días.” The gentle warmth of the day has not yet completely dried the street, which is freshly clean and still damp from an overnight shower. Tall, shady trees line the road on both sides, almost forming a green tunnel.

The old guy who sells exotic flowers is just setting up today’s colorful selection alongside the tumbling brook, while the tropical juice man is already squeezing fresh fruit for his first customers of the day.

The elegant, open-air restaurant on the corner won’t open until around noon…but the brightly-colored umbrellas over the sidewalk tables tell me that our local cafés are ready for business. The scent of baking bread, fresh pastries, and Colombia’s signature buñuelos (donut-like balls sprinkled with powdered sugar) fills the air, as their cappuccino machines churn out the day’s first brew.

Mornings are my favorite time in Medellín. And as I look around at the familiar faces already assembled at some of the café tables, I see that I’m not alone.

I’ve been to Medellín four times now, and the idea of buying my own place there evolved over time. I liked the city from the start, but it took me a while to absorb everything it had to offer.

As it turned out, life in Medellín was far better than I expected. Sure, my friend Rich had told me that the weather was great… Clara raved about the restaurants… and Cole said there was almost limitless opportunity here. Frankly, I’ve heard these kinds of claims before.

But in this case, they actually understated the quality lifestyle here… probably assuming that I wouldn’t believe them otherwise.

The weather is perfect all year. The average daily high of 82° varies by only one degree during the year, while nighttime temps remain in the 60s. For a potential second-home owner or a property investor, this “always nice” weather is ideal, because the city is desirable (and the property is rentable) all year.

In my case, my main home is in Punta del Este, Uruguay, where we have four seasons. So when it’s winter in Uruguay, I can pass the time in Colombia…  and when it’s winter in the northern hemisphere (and summer in Uruguay), I can rent the Colombia place out to someone from North America or Europe.

The city’s cultural amenities are a big draw, including Medellín’s parks, museums, and theater. Teatro Metropolitano is home to the renowned Medellín Philharmonic Orchestra and hosts a year-round schedule of cultural events. At Parque Explora, you can catch frequent concerts, too… but it also hosts the planetarium and city aquarium. And over at the museum Casa Museo Pedro Nel Gómez, you can see over 1,500 of this master’s best works in this museum created in his restored former home. Plaza Botero draws visitors from around the world who come to see the 23 outdoor sculptures featuring his distinctive, portly subjects.

And that’s not to mention a wealth of cosmopolitan fine dining, world-class shopping, and sizzling nightlife that Medellín is known for.

The First-world environment is great for those who appreciate life’s conveniences… like drinkable water, a solid infrastructure, and reliable telecommunications, internet, and public transportation.

And properties are downright inexpensive. I paid only $916 per square meter ($85 per square foot) for a beautiful, modern condo. That’s less than you’d pay in most major Latin American cities.

The average price of everything I looked at in Medellín was $1,178 per square meter at today’s exchange rates and based on over 70 properties. Today in Panama City, a similar property would set you back $2,269 per meter.  In Fortaleza, Brazil, (away from the boardwalk) you’d pay $2,512…and in Montevideo, Uruguay, at least $2,100.

That’s a minimum of 129% more than what I paid.

I started off looking for a pure investment property, but that didn’t last long. The more time I spent in Medellín, the more I came to see it as a place to live… and invest.

And Medellín has a number of top-end areas for living and investing. Places like El Poblado, Laureles, Envigado, or Belén. But I focused on El Poblado because it’s the best that Medellín has to offer… it’s a “branded” address, like Beverly Hills in greater Los Angeles, or Lake Shore Drive in Chicago.

Also, El Poblado is home to the Zona Rosa. This is Medellín’s high-end restaurant and night-life district, which draws successful Colombians from around the city (and the country), as well as international visitors from around the world.

And in the middle of the Zona Rosa, you’ll find Parque Lleras (pronounced “ZHER-ahs”). It’s an area of about 15 blocks packed wall-to-wall with restaurants, cafés, and clubs. On the weekends, it draws visitors by the thousands and resembles the New Orleans French Quarter on a Saturday night.

But outside Parque Lleras, you’ll find plenty of elegant venues in quieter settings.

El Poblado is also home to the Golden Mile, called the Milla de Oro. This is an upscale avenue that hosts the banking district, a shopping district with several high-end malls, along with the business sector and a number of large hotels.

If you’re going to own a rental property in Medellín, these are big attractions. If you can find a place on the quiet fringes—yet within walking distance to both the Zona Rosa and the Golden Mile—you’re in business.

With such strict criteria, you’d think that it would be hard to find a selection of suitable properties. But that’s not the case.

In fact, my problem was the opposite… there were too many choices. I looked at more than 60 condos that met my basic criteria. My list of “finalists” was never less than 10. At times, the number of options was overwhelming.

But in the end, the place I picked was best suited to being a comfortable home. Yet it’s only a four-minute walk to the Zona Rosa going north, and two minutes to the Golden Mile heading west… and it’s just down the street from the old flower guy, the tropical juice man, and that little enclave of sidewalk cafés where I start the day.

It suits me perfectly… I haven’t found a more pleasant environment for year-round city living anywhere, during 10 years of travel around the globe.

If you enjoy the prospect of perfect weather 12 months a year—with a First-world, walkable city that offers shady streets lined with elegant restaurants and cheerful cafés—then Medellín could well be for you

Medellín Essentials: Real Estate Tips and Advice

Don’t get hung up on Parque Lleras. First-time visitors like to find lodging and spend a lot of time here… but subsequent visitors (and residents) have a much broader scope of interest. So don’t feel like you need to buy a place in Parque Lleras in order to rent it out. There are a dozen other beautiful areas among El Poblado’s 20-odd neighborhoods that would offer peaceful surroundings with tall trees and expansive views.

Make it walkable. Medellín is a beautiful walking city—especially El Poblado—but it can be a lousy place to drive, especially in rush hour. The ability to walk to shops, entertainment, and banking is worth its weight in gold.

Be careful when moving money. Getting money into Colombia is fairly easy. But if you plan on taking any back out, it needs to be properly declared when it comes in. Otherwise, it’s possible to encounter restrictions on expatriation, or unpleasant tax consequences. It’s easy if you follow the rules… and in fact, I’ve added a chapter on this topic—with all the forms—to the 2011 edition of the Colombia Report.

Real Estate Contacts

My primary contact is Rich Holman, of First American Realty Medellín. He maintains an English-language website and employs only bilingual agents. Email:  Rich@FirstAmericanRealtyMedellin.com; website: FirstAmericanRealtyMedellin.com.

I also worked extensively with Marjorie White (email: mayowr@une.net.co). Marjorie speaks Spanish but usually works with an English-speaking associate. She’s one of the best realtors I’ve worked with, anywhere.

Expert Legal Support

Although I’ve “done it myself” in four other countries, I consider an attorney mandatory in Colombia for property purchase. I’ve worked with several attorneys, and Clara Múnera is my first choice for property transactions, money matters, or residency. Email: mcmunera@hotmail.com.