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Are you looking for a good real estate investment in Colombia? Currently, the prices are pretty low from a foreign investor's perspective. The real estate market has been booming and growing at over 10% over the past few years, and it is promising to grow at such a rate going further, in my opinion.
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Comparison of Homes For Sale in Medellin Colombia & Cali The market for rentals and real estate in Medellin, Colombia, has returned an impressive higher than 80% yields in the past decade. While the newly nicknamed Smart City sans Medellin is rapidly developing, it's worthwhile to learn how property for sale in Medellin, Colombia fares against other deals in Cali. Before anyone jumps the gun, it's critical to understand that Cali's cartel and crime statistics have been reasonably lower than most American cities. So, what can you do as an investor if you want to own more than one property in Colombia? Also, if you're curious about what you can get for the same amount of money in Cali, here's what you should know! Are Properties for Sale in Cali, Colombia, Profitable? To outrightly announce something profitable or not requires considering several aspects, including its local regulations. Oddly, Cali indeed has some orthodox rules when it comes to renting homes or even commercial properties. Unlike in Medellin, where a mutual agreement is easier to obtain with a heavier sum on the table, Cali is somewhat diverse. Cali real estate is foremost plagued by the bad history of its past, which isn't the same today, yet it might make some expect to have less pricing.
However, while that's true in some aspects, its homicide rates are not what makes it famous but it's the local medical industry and tourism. But, before we briefly have a glance into it, did you know that the average population of the Cali metro area is over 3 million, only a million less than Medellin's 4 million? Based on the statistics above, it's easier to conclude that it can indeed be considered profitable to invest in Cali real estate, but how and where? Top Factors You Should Consider Cali Colombia Properties for Sale The few but significant determinants of whether you should invest in Cali Colombia come down to some prospects and certain limited restrictions. But, by no means do either of them imply that investing in properties for sale in Cali is lesser ideal. Let's look into each of them briefly. Port Logistics & Global Shipping The primary port of Buenaventura in the country was previously the main hub for trade to the Western and European markets. However, in the present century, the port is emerging as an important destination for eastern trade after western trade relations were noticed to be declining. What it leaves Cali is with a Pacific Port where most global companies are opening their headquarters to build their logistics infrastructure. Medical Tourism If you haven't yet heard about the medical tourism of Cali and you live outside of Latin America, then you're not alone. Still, its dental treatments and cosmetic plastic procedures like surgeries have established a name for themselves. Much like what you can expect Turkey to offer, it can be availed of in Cali, which is relatively closer to the Americas and cheaper too. No Short Term Rentals The strange subject of conversation in the real estate Cali Colombia market is the higher than 80% occupancy of rental homes. Yes, despite the infamy of the region, it remains nearly overbooked for most parts of the year. The only solution to it is to buy the entire property or the building. The latter solution also delivers better long-term returns at over 10% than the mere under 4% from the rentals. Moreover, regions like El Calvario, El Penon and Granada, and San Antonio boast of all the modern amenities and infrastructure. So, expect a whole building purchase as an alternative to a property for sale in Medellin, Colombia, to cost a little more than one thousand grand per sq meter. However, the consistent and impressive 10% to 13% YoY returns can sort you ahead in five to eight years.
Get Real Estate Medellin Advisors Recommended Deals You can view and discuss many more options with professional Medellin Advisors, who can help you get the best real estate deals in Cali, Colombia. Contact their team, and you'll be put in touch with experienced and knowledgeable locals and experts who know the lay of the land.
