Buying Real Estate in Colombia
The purchase process is relatively straightforward when you’re buying real estate in Colombia.
Here are four basic points to remember:
- There are no restrictions on foreign buyers in Colombia, whether or not they are residents;
- You can repatriate your gains and earnings to your home country;
- If desired, you can set up a corporation fairly easily, with which to buy your property;
- Colombia has a sound process for tracking property titles, and for recording liens and encumbrances against titles.
Where to buy real estate in Colombia
Bogota sits in the high sierra, on a mountain-rimmed plateau at an elevation of about 8,650 feet. Its 6.7-million residents enjoy spring-like weather, with a seasonal temperature variation of less than 1° F.
This city has a broad appeal, with the best areas lying to the north and east of Centro. You’ll find an exciting mix of small quasi-independent municipalities with their own town centers…sectors of gleaming new high rises surrounded by towering eucalyptus trees, renowned restaurant and shopping districts, expansive parks, chic cafes, and plenty of fine dining. Other popular zones here are Usaquén, Rosales, and El Chico.
Property sample in Bogota:
- A three-bedroom, one-bathroom house in La Candelaria. Covering 1,076 square feet, it is located in the center of Candelaria. Price: $98,800.
Medellin sits at the perfect 5,000 feet above sea level, which explains the ideal climate with days that are pleasantly warm, and nights were agreeably cool.
The city is bustling, modern, and has everything from large shopping malls to mom-and-pop stores. You can get almost anything you can back home. In lush, green neighborhoods, modern high-rises look out between towering eucalyptus trees, and Medellin also offers a colonial-style historic center as well as clean, residential neighborhoods…each with its own ambiance and lifestyle.
Property sample in Medellin:
- A one-bedroom, one-bathroom apartment in the El Poblado district of Medellin. It comes with oversized windows, ceramic floors and granite counters. Price: $78,000.
Santa Marta is Colombia’s oldest city, lying where the desert meets the Caribbean. The area referred to as “Santa Marta” usually refers to the region bounded by Taganga—five minutes north of the city—to El Rodadero, which is about 10 minutes south. Due to the city’s orientation, most of Santa Marta’s coastline is actually facing westward, so even though you’re on the Atlantic, you’ll be treated to a dazzling nightly spectacle as the sun sinks into the sea.
Property sample in Santa Marta:
- On El Rodadero’s beach is a 1,440-square-foot apartment, with three bedrooms, three bathrooms and two oceanview balconies. Price: $138,350.