Note: This article was originally written in March 2019. The original text remains, but it was updated in October 2021 to reflect several more years of working as a buyer’s agent in the real estate industry in Medellín, Colombia. It includes examples from the field, some trends and changes I’ve witnessed and additional lessons learned. These changes are marked with this style of text and start with “2021”.
Medellin, Colombia used to be on the map for all the wrong reasons. For much of the 1970’s, 80’s and 90’s, the city grappled with violence due to drug trafficking, gang violence, and government unrest while international tourism and the value of the Colombian peso plunged. The city rebuilt itself following the violent climax in the 90s, slowly becoming an off-the-beaten-path destination for backpackers before emerging as one of today’s best-kept real-estate secrets: Dollar for dollar, Medellín beats out countries like Costa Rica, Mexico, and other Caribbean nations for affordability while also offering a state of-the-art Metro system, diverse culinary scene, year-round springtime temperatures, a thriving expat community, and direct three and five hour flights from Miami and New York, respectively. The only question remaining is, how do you go from dreaming about owning a property in Medellín to acquiring your very own piece of paradise in ‘The City of Eternal Spring’?
Your article of the 8 things to know is very useful and informative. I am a Colombian with dual citizenship with plans to relocate to Colombia by April 2024. I wil travel to Colombia in November of this year , stay for a month and visit Medellin and the coffee triangle, the only two places I think to buy my property. I plan to do all real state related transactions as a Colombian citizen. Of course I will get the help from a real state attorney to go through the purchasing process.