Modern and cosmopolitan cities, lush jungles, mountainous countryside, and a year-round spring-like climate…Colombia is a place I’m very keen on—and particularly Medellín.
When I look at a country or a destination, I look for opportunities where buyers can get in low and benefit from strong capital appreciation and/or rental income potential.
That’s why Medellín stands out. And from an investor’s standpoint, Medellín is Colombia‘s standout real estate market.
Medellín is Colombia’s second-largest city, after the capital, Bogotá. It’s up there with some of Europe’s most metropolitan cities. The leafy avenues are lined with high-class boutiques, chic little eateries, and eclectic coffee shops. It’s ranked as one of the world’s most liveable cities, sharing company with the likes of Barcelona and Copenhagen. It’s rated as one of the top three places worldwide for mobile entrepreneurs and digital nomads to base themselves. And I can see why.
Because of an outdated reputation, real estate pricing has stayed low. I know of no other world-class city where you could buy a high-end, 800-square-foot condo in the city’s best neighbourhood for $100,000. Buy right and I reckon you could double your money here in five to seven years.
But, there’s also another opportunity I like in Colombia. From an investor’s standpoint, the numbers don’t translate to a strong enough return to make it a buy. But, if you’re looking to own your own home in Medellín, for your own personal use, there’s one opportunity I particularly like.
Right now, in Colombia, you could buy a gentleman’s farm, in the Andes and close to Medellín, for $100,000 or less.
That’s because Medellín sits at the floor of a valley in the Andes. Just a short drive from the city, suburbs quickly give way to quiet country roads. There, $65,000 could buy you a traditional farmhouse on its own piece of land—perfect for extensive gardens and maybe to work as a gentleman farmer.
I got to see this opportunity on a trip to Medellín earlier this year. I was vising a friend’s finca (ranch). It was easy to get to—just a 30-minute drive from Medellín’s international airport.
We approached the finca from a main road. Within his finca, there’s a long cottage with bedrooms and a living area. You could spend a lot of time here sitting outside on the veranda enjoying your views. From the veranda, you have a view to the lush gardens. This is a fertile place—trees and tropical flowers were in bloom when I visited. I even got to try stevia, the natural sweetener that you’ll see on a lot of labels now. It’s the fashionable new sugar substitute—and it grows naturally in the garden.
With a little budget, you could get a finca like this in Colombia. He bought his home at a low price and put some money into bringing it up to a comfortable standard. He did well. For the entire property—cottage, land, a caretaker’s home, and his renovations—he spent a little under $100,000.
If you’re looking to own your own ranch with some land in the country, Colombia is somewhere I recommend you consider. As a pure investor, I’d put my money in those condos in Medellín. But, if you’re looking for a mountain finca, this is a good place to consider that I think will increase in value over time.
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