Have a discussion about investing in real estate and chances are Medellin in Colombia will not feature that prominently. Yet property or to use more aptly the Spanish, casas Medellin, is a location that can offer beyond what might be envisaged.
As the second biggest of the Colombian cities, in terms of people and economics, its reputation has been plagued by violence driven by the illegal trade in narcotics and the gang culture behind this scourge.
Nobody is saying that there are not still problems, where on earth are there not, but it does seem the population, although still divided, seem to be on a more prosperous and cooperative path.
This is naturally great news for the real estate market which has shown significant and constant expansion over the last eleven years or so. This growth rate has been higher than both other areas in Colombia and other major countries. Even during the recent downturn, the market has remained largely stable at a time when losses of up to 30 percent were recorded in other markets.
It is not only values that show a healthy trend upwards, a lot of the development is upwards as well, in the form of apartments which appear to be in great demand. New developments are springing up all over and particularly within the trendy El Poblado area, described by some as the Beverly Hills of the area.
Estadio, Suramericana and Laureles are areas to the west of the Medellin river that follow a more traditional way of life and tend more to houses than apartments. Being more traditionally orientated one will find an abundance of Salsa clubs with the sounds of their great rhythms regularly filling the air. Equally enticing are the odors of great tasting food like Bandeja Paisa. Consult the free classified advertisements of a local newspaper, sometimes they have real bargains.
Some prefer the tranquility of the countryside and the area around the city will not disappoint. Village dwellings and small towns can be found in the surrounding foothills, interspersed with mountains, forested slopes, grasslands and bare rock formations. Farms in these regions might appeal to some people, either as operational units, or plots more suitable for retirement.
Regulations controlling the sale of properties in Colombia stipulate that large deposits are needed to proceed with a sale. These policies dissuade speculative approaches to property investment that often result in price bubbles forming which all to regularly are followed by crashes. The real estate market for housing, or remember the translation, casas Medellin, can offer serious investors real potential.
As the second biggest of the Colombian cities, in terms of people and economics, its reputation has been plagued by violence driven by the illegal trade in narcotics and the gang culture behind this scourge.
Nobody is saying that there are not still problems, where on earth are there not, but it does seem the population, although still divided, seem to be on a more prosperous and cooperative path.
This is naturally great news for the real estate market which has shown significant and constant expansion over the last eleven years or so. This growth rate has been higher than both other areas in Colombia and other major countries. Even during the recent downturn, the market has remained largely stable at a time when losses of up to 30 percent were recorded in other markets.
It is not only values that show a healthy trend upwards, a lot of the development is upwards as well, in the form of apartments which appear to be in great demand. New developments are springing up all over and particularly within the trendy El Poblado area, described by some as the Beverly Hills of the area.
Estadio, Suramericana and Laureles are areas to the west of the Medellin river that follow a more traditional way of life and tend more to houses than apartments. Being more traditionally orientated one will find an abundance of Salsa clubs with the sounds of their great rhythms regularly filling the air. Equally enticing are the odors of great tasting food like Bandeja Paisa. Consult the free classified advertisements of a local newspaper, sometimes they have real bargains.
Some prefer the tranquility of the countryside and the area around the city will not disappoint. Village dwellings and small towns can be found in the surrounding foothills, interspersed with mountains, forested slopes, grasslands and bare rock formations. Farms in these regions might appeal to some people, either as operational units, or plots more suitable for retirement.
Regulations controlling the sale of properties in Colombia stipulate that large deposits are needed to proceed with a sale. These policies dissuade speculative approaches to property investment that often result in price bubbles forming which all to regularly are followed by crashes. The real estate market for housing, or remember the translation, casas Medellin, can offer serious investors real potential.
About the Author:
Learn more about financiacion de vivienda en Colombia para Colombianos en el exterior. Stop by Andres Marquez Gamboa's site http://www.propiedad-raiz.com where you can find out all about Creditos Hipotecarios o Leasing Habitacional y Creditos para Inmuebles diferentes de Vivienda y por Leasing Inmobiliario and what this portal has to share with you if you think of Real Estate as an investment.
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