Looking for investment opportunities? If what you want is a high-income producing investment with minimal risk, why not look into real estate in Medellín?
An emerging city, Medellín has put itself on the map due to its dramatic renovation in the past few years.
Those that have had the pleasure of visiting this amazing city will tell you that not only does the city have perfect weather year-round, amazing people and rich culture but the city is also the country’s second largest economy and one of South America’s most popular travel destinations.
With a growing number of expats investing in the El Poblado high-rises, the cost of real estate will soon take a huge leap.
Why Invest in Medellín?
Years ago, American travellers were lured to Costa Rica for its spectacular beaches, amazing weather and affordable cost of living. Once Costa Rica was flooded with retirees, prices skyrocketed and expats began looking for a different alternative in Central America. Now, we have thousands of retired Americans living in Panama. Be it for its affordable health care costs, tropical weather or convenience in terms of money (Panama also uses the US dollar) Panama has been a popular investment option for many Americans.
When looking at a cost of living perspective, the current strength of the US dollar when compared to the Colombian peso makes Colombia very enticing to any investor.
When looking at the scope from a real estate perspective, Panama City even though the prices have dropped in the last 5 years, the cost per square meter is $1800 - $2300 while still a lot more affordable than major US cities, still doesn’t compare to the $1,200 per square meter offered in El Poblado (the best neighborhood in Medellín).
Investment Opportunities in Medellin
The rise of tourism in Medellin and use of sites such as Airbnb and Flipkey allow all real estate investors in Medellín to see ROIs within the first few years of purchase. Whether you’re looking for a pied-e-terre to spend a few months out of the year, or looking to cash out and buy a place to rent out to tourists, Medellín has plenty of lavish penthouse apartments at very affordable prices.
So if you haven’t made your way down here for vacation, take a trip down to Medellín and see for yourself why visiting this city will not only be beneficial for that leisure trip you deserve, but can also be a tremendous business opportunity.