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In this video, I go over the pros and cons of buying real estate in Medellin, Colombia. I also give a tour of my brand-new apartment in el poblado.
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Highlights
💼 Visa Opportunities: Buying property in Colombia offers the chance to obtain a real estate investor visa or property owner visa, but it requires meeting specific investment criteria.
🏡 Rental Market Boom: Medellin's rental market, particularly on platforms like Airbnb, is thriving, offering promising returns ranging from 11% to 15% annually.
💰 Value for Money: Compared to other locations, the purchasing power in Medellin is considerable, allowing for quality apartments in desirable neighborhoods at lower prices.
🌴 Lifestyle Flexibility: Owning property in Colombia allows for a flexible lifestyle, enabling individuals to reside there part-time while renting out their property through platforms like Airbnb.
❌ Regret and Sales Challenges: Potential regret over the investment and the lengthy sales process might be encountered if wanting to sell the property.
🏢 Tedious Buying Process: Finding the right property and dealing with the real estate market's lack of regulation can be time-consuming and frustrating.
🕵️ Unregulated Real Estate Agents: The absence of certifications for real estate agents can lead to unprofessionalism and communication issues during property transactions.
🏨 Airbnb Challenges: Managing an Airbnb business might attract problematic tenants engaged in undesirable activities, creating issues for property owners.
📉 Currency Fluctuation Risk: Currency fluctuations, especially the peso's devaluation against the dollar, pose a risk as property values may not increase as anticipated.
🤝 Recommendations: Advises seeking guidance from experienced professionals and considering diversification before investing in Colombian real estate.
00:00 Intro
00:22 PRO: Investor Visa
01:15 PRO: Airbnb Income Booming
01:57 PRO: Get More for Your Money
02:56 PRO: Lifestyle
03:31 CON: Regret
03:56 CON: Long Process
04:19 CON: No Licensed Real Estate Agents
04:53 CON: Bad Airbnb Tenants
05:35 CON: Costly Mistakes
05:58 CON: Peso To Dollar
07:02 Medellin Masterclass
07:14 New Apartment Tour
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