Medellin is the second-largest city of Colombia which is worldwide known for its vibrant and modern environment, thus gives several reasons to tourists and foreigners to enjoy every moment in this beautiful city. When it comes to the urban lifestyle as compared to North America, Medellin costs much lower than its North American equivalent.
If we talk about the Medellin real estate property, then Buying Property In Medellin Colombia has been found to be extremely affordable. The city is continually developing in all aspects, especially, politics, education, and social development.
If we talk about the facilities and amenities that attract foreign investors to make their investment in this vibrant city, this includes several universities, a modern fashion industry, restaurants, nightlife, as well as a world-class metro transportation system. At the same time, we can’t forget its cultural life that grabs the attention of people who love to explore the cultural lifestyle of different places. The city has various art, museums, and other attractions that attract tourists and expats to Medellin.
There is nothing to surprise when you find that investors outside Colombia are showing great interest in the Medellin investment property market. Foreign investors, who were interested in the real estate market of other cities in Colombia, are also looking forward to investing in Medellin.
Now, the question may arise in your mind: Why foreign investors are showing their interest in buying property in Medellin Colombia? What attracts foreign investors towards Medellin?
Why Foreign Investors are interested in the Medellin Real Estate Market?
Here, some important things are gathered that can help you analyze the reasons for investing in Medellin.
- The city has amazing weather; it means you can enjoy pleasant weather all around the year i.e. never too hot or too cold. This can be one of the main reasons for people who love to live in a moderate atmosphere.
- Medellin is known for its well-maintained roads, world-class metro transporting system, and pure drinking water that give people a convenient lifestyle. A clean, modern, and world-class setting is something that can attract anyone to make an investment in a specific place.
- The city is packed with rich cultural scenes. You can enjoy orchestra, theater, and unlimited events and shows that grab the attention of foreigners and tourists.
- If you are the one who loves eating, then it is the right city to enjoy a variety of cuisines at elegant restaurants. The city has plenty of eating places that can be compared with others around the world in terms of variety and creativity. Nothing is more enjoyable than numerous sidewalk cafes.
- Every place is easily accessible due to different transportation systems and that too quite affordable. All essential things can be available within comfortable walking distance. Whether it is a bank, shopping centers, restaurants, and cafes, all are easily accessible. You can also hire a taxi at such reasonable prices.
Medellin For Expats
Medellin is known as Retirees and Expats Paradise, here are few of the reasons why:
- The city is becoming a comfortable place to live for retired couples, single women and even young people with transferable careers are making this place their choice for living. Thus, plenty of expats are also one of the reasons for attracting foreign investors for buying property in Medellin Colombia.
- The cost of living in Medellin is unbeatable as compared to other cities in Colombia. As compared to a few years ago, it is reported that the cost of living has now become about half the price. Thus, giving investors an opportunity to buy a property in the city and live affordably.
- Medellin is a city that offers high-quality properties at low prices, thus opens hot tickets for those who are looking for investing in a place that offers everything for comfortable, affordable, and peaceful living. The majority of North American retirees and investors are investing their hard-earned money in the real estate market of Medellin. Buyers are taking the advantages of today’s facilities, cultural environment, and the modern lifestyle.
Let’s have a look at the neighborhoods for Medellin Property Investment
Neighborhoods for Medellin Property Investment
From the city center, the neighborhoods of Medellin extend to the sides of the mountains, where people can enjoy cool weather in the daytime with lovely city and amazing mountain views. If we talk about the expats and tourists in the city, they prefer the high-rise apartments and condominiums in various neighborhoods. These include El Poblado, Parque Lleras, Envigado, and Laureles.
El Poblado
It is the wealthiest and admired neighborhood of the city. This neighborhood is also very popular for expats and tourists. You can see numerous luxury high-rise apartment buildings, restaurants, parks, boutiques, and even yoga studios on the hillside. This makes this neighborhood one of the up-scale first-world of Medellin.
El Poblado offers various things to the people that attract them to this place. These include high-end shopping, clubs, hotels, restaurants, and various other amenities for daily life, such as supermarkets, medical centers, banks, and others. This gives all reasons for enjoyable and comfortable living or investment. Also, El Poblado is more expensive than other neighborhoods.
Parque Lleras
It is well-known as the Medellin’s top nightlife neighborhood and offers plenty of bars, clubs, restaurants, and cafes to the people to enjoy their nightlife to the fullest. It is also a popular tourism destination with various conveniences along with nightlife venues. The cost of property in Parque Lleras is a little less as compared to El Poblado.
Envigado
This neighborhood is also called ‘the next El Poblado’. The main square gives people various reasons to socialize due to various cafes, bars, and restaurants. It also offers various cultural and culinary options that attract people for weekend outings. They can enjoy eating, drinking, dancing, and watching local artists’ performances.
Envigado is also a great Medellin neighborhood for hiking, mountain biking, and even bird watching. The property prices in Envigado are higher than in Parque Lleras.
Laurels
This neighborhood is named after laurel or bay trees that are lining the medians of the streets. Laurels is a known place for single-family houses and low-rise apartment buildings. It also has various small stores that provide all the daily-life conveniences. The restaurants, bars, cafes, and stores are within walking distance. Buying a property in Laurels is less expensive than in other neighborhoods.
Final Words
Investment in Medellin Colombia is quite easier for both foreign investors and locals. The Medellin real estate market attracts more and more investors and also helps greatly in the economy of Colombia. If you are looking for buying a property in Colombia, Medellin can be your best destination for long-term investment.
