A conversation about investments in land and properties is unlikely to include Medellin in Colombia. Yet houses here, or to utilize the Spanish, casas Medellin, is a locality that may provide surprising options.
It is true to say that this the second largest city in Colombia, in terms of both population and economy, has had a troubled past. That past was often violent and heavily influenced by drug lords and the trafficking of narcotics.
Although there are still trouble spots and problem areas, as with most of the major cities in the world, progress over the past 20 years has brought about some amazing transformations within the city. Its various peoples may still have their differences, at least they seem to be as one about plotting a course towards prosperity and living in harmony.
This augers well for the property market. Since 2002 real estate investors reported growth which has generally out performed the market elsewhere in Colombia as well as the international arena. The recent economic turbulence saw prices remain constant whilst elsewhere declines of up to thirty percent were not uncommon.
The increasing popularity of condominiums on the skyline reveals it is not only the value of property that is trending upwards, but also the construction of tall apartment blocks. The El Poblado area appears to be leading the way in regards these developments and has been dubbed with the description of being the local Beverly Hills. It is proving to be the location of choice for the fashion conscious.
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.
If a more rural setting is desired the surrounding area has been described as having heart-stopping beauty. Charming towns and villages adorn the surrounding slopes and mountains. Landscapes transform rapidly from some wooded, others carpeted with steep meadows to rocky outcrops. A farm in this area might also be a good investment, either as a going concern or as a retirement option.
The Colombia regulations surrounding property purchases require buyers to have large deposits. This policy promotes a stable property market, as having such a large cash outflow is less attractive to speculators. This minimizes the boom or bust bubble effect that arises when excessive speculative investment occurs. The real estate market, or the casas Medellin to use the appropriate Spanish, is prospering and serious buyers could do well to investigate it further.
It is true to say that this the second largest city in Colombia, in terms of both population and economy, has had a troubled past. That past was often violent and heavily influenced by drug lords and the trafficking of narcotics.
Although there are still trouble spots and problem areas, as with most of the major cities in the world, progress over the past 20 years has brought about some amazing transformations within the city. Its various peoples may still have their differences, at least they seem to be as one about plotting a course towards prosperity and living in harmony.
This augers well for the property market. Since 2002 real estate investors reported growth which has generally out performed the market elsewhere in Colombia as well as the international arena. The recent economic turbulence saw prices remain constant whilst elsewhere declines of up to thirty percent were not uncommon.
The increasing popularity of condominiums on the skyline reveals it is not only the value of property that is trending upwards, but also the construction of tall apartment blocks. The El Poblado area appears to be leading the way in regards these developments and has been dubbed with the description of being the local Beverly Hills. It is proving to be the location of choice for the fashion conscious.
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.
If a more rural setting is desired the surrounding area has been described as having heart-stopping beauty. Charming towns and villages adorn the surrounding slopes and mountains. Landscapes transform rapidly from some wooded, others carpeted with steep meadows to rocky outcrops. A farm in this area might also be a good investment, either as a going concern or as a retirement option.
The Colombia regulations surrounding property purchases require buyers to have large deposits. This policy promotes a stable property market, as having such a large cash outflow is less attractive to speculators. This minimizes the boom or bust bubble effect that arises when excessive speculative investment occurs. The real estate market, or the casas Medellin to use the appropriate Spanish, is prospering and serious buyers could do well to investigate it further.
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.
No comments:
Post a Comment