There are few places in Latin America as up-and-coming and rich in investment value as Medellin, Colombia. Likewise, the real estate market in Colombia has become one of the most lucrative investment opportunities available. With the dollar’s amazing purchasing power, many retirees and venture capitalists have began flocking to Medellin. Here are the main three reasons why buying real estate in Medellin may be one of the best decisions you make in your life–financially and personally.
1. Innovation and Safety
Consistently, year after year, Medellin has been awarded prestigious acclaim from the international press for being a forward thinking, developed, and beautiful city.
The once infamous and violent past of Medellin has been recently tamed within the last decade or so. Statistically, it is now safer than quite a few major US cities. With security being of the utmost importance for the government in recent years, tourism has been climbing at an accelerated rate due to a plethora of reasons.
2. Perfect Weather & Friendly People
Medellin, known as the city of “eternal Spring,” has some of the most consistent and sunny climates of any city in the world. The people are warm and friendly and urban offerings, like international and fine-dining cuisine, are becoming refined and commonplace. Additionally, Medellin has the perks of a city, but still may shock you with it’s gorgeous jungle overgrowth. Medellin is simply one of the best cities in South America, and arguably, the world.
3. Upgrade your investment property for a low cost
Buying real estate in Medellin, perhaps for a retiree, doesn’t mean you’re stuck with what the property has to offer– there’s an incredible abundance of low-cost and high quality labor in Medellin. Feel free to hire a team of renovators, for an extremely competitive rate, to craft the modern and gorgeous architecture you’ve always wanted.
4. Help around the house adds value
Another example of low-cost, high quality labor is, perhaps after you’ve moved into your dream property and would like some additional help with various services. Feel free to hire a warm and professional maid to cook and clean for you in exchange for a generous wage nowhere near the cost of services in western countries. Few places in the world have such great services for a low cost.
5. The Dollar!
Perhaps most importantly, is the strength of the US dollar. Right now, the time to buy property with western currency, like the Dollar, is superb for real estate investment. The Dollar has shot up to record heights recently, and with this rise, brings tremendous purchasing power to the table. Currently, 1 USD is worth 2,900 COP. Feel free to become a regular at some of the best restaurants you’ve ever experienced and not bat an eye at the bill. To some, the cost of living of Medellin, alone, is just too much to give up. Very frequently, tourists turn into investors and Colombia turns into the place they call home.
With these significant reasons– Medellin being a highly attractive city, the high quality to low cost of services, and the strength of the USD– it’s no wonder Medellin is in the middle of an economic boom with real estate being the ideal market for savvy investors and retirees alike. To find out for yourself, I strongly recommend taking a trip to Medellin to see just how charming and pleasant this jungle city can be.
We rent and sell real estate in Medellin, Colombia. If you have any questions feel free to contact us at 1-917-440-3595 (USA).