Colombia Real Estate
Posted By BLOG MGR 01/07/2017 | 01:21PM | 0

Nice climate, beautiful views, the happiest people in the world and, especially, the low cost of living, Make Colombia an undiscovered paradise for visiting, living and investing.

Colombia is a beautiful and multifaceted nation, but most of the world has only heard about its dark side. Too many people tend to think of Colombia as an insecure country full of drug dealers and guerrillas, but things have changed--and hopefully for good.

According to a United Nations report, drug dealing has decreased its importance to the Colombian economy over the past ten years. The government is making big efforts to negotiate a peace agreement with The FARC (Revolutionary Armed Forces of Colombia), the oldest guerrilla group in the country, by which it hopes to put to and end a civil war that has been going on for more than 50 years now. This means a significant improvement in security, which in turn leads to better hopes for a bright future. (Update: Peace agreement was signed in late 2016.)

Colombia is the only country in South America that has coasts on both the Pacific and Atlantic Oceans. It is also one of the richest countries in biodiversity, with about 54,871 different animal species. Besides its natural resources, Colombia is known for its kind people. In fact, they have been listed for two consecutive years as the happiest people in the world by Gallup’s Global Barometer of Hope and Happiness. Colombia’s strengths, as a consequence of its proximity to the Equator. Temperatures in the cities are consistent throughout the year, so there are sunny cities like Cali, colder ones like Bogota and Pasto, and cities with the perfect climate like Medellin, also known as “the city of the eternal spring.”

Economically, Colombia has grown through the years; currently, it has the fourth largest economy in South America. According to Bloomberg.com, the Colombian economy increased more than expected in the second quarter of 2015, due to expansion in the construction industry.  For all these reasons, Colombia has become a great place to invest in real estate.

According to Metro Cuadrado magazine, apartment values in Bogota increased 10% between September 2013 and September 2014, reflecting a fast-growing and dynamic market. Kathleen Peddicord, president of Living and Invest Overseas and columnist for the Huffington Post, considers that purchasing a property in Colombia is a bargain. This is due in part to the value of the Colombian peso, which is lower than the American dollar. (As of January 7, 2017, one dollar buys 2,927 pesos.) According to Numbeo, a global database for cost of living, living in Medellin is 60% cheaper than living in Boston, and typical rents in Cali are 93% lower than those in New York.

The website liveandinvestoverseas.com, which specializes in investments abroad, considers Colombia a good place to invest in real estate because of its low prices and growing demand—especially for retirees. Significantly, the site identifies Colombian real estate as an organized but undervalued market.

International Living Magazine recommends buying real estate in cities like Bogota, Medellin and Santa Marta, and points out that a foreigner does not need to be a resident to invest in real estate.

In conclusion, Colombia’s beautiful scenery, extraordinary nature and excellent purchase prices make it an unexplored paradise for visitors and investors alike.

This article reflects the views of the author, but not necessarily the editorial position of SaleTradeRent.com

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