Mention the idea of property investment and Medellin in Colombia is probably not the first city that comes to mind. Yet housing or perhaps more appropriately the Spanish casas Medellin is a city that offers far more than one would imagine.
As the second biggest of the Colombian cities, in terms of people and economics, its reputation has been plagued by violence driven by the illegal trade in narcotics and the gang culture behind this scourge.
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.
These are obviously ideal circumstances to trade property. Commencing around 2002 this market has been growing at a rate in excess of other Colombian cities and international locations. The past unsettled periods of recession saw prices generally maintained, in comparison to declining trends reaching thirty percent both locally and beyond.
It is not only values that show a healthy trend upwards, a lot of the development is upwards as well, in the form of apartments which appear to be in great demand. New developments are springing up all over and particularly within the trendy El Poblado area, described by some as the Beverly Hills of the area.
For those wanting to be closer to typical local lifestyle there are the suburbs of Suramericana, Laureles and Estadio situated west of the Medellin river. These areas are known for their traditional way of life where the sounds of Salsa clubs and smell of great tasting food like Bandeja Paisa are carried in the air. A look through the newspaper free classified section is a good place to start looking.
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.
Regulations controlling the sale of properties in Colombia stipulate that large deposits are needed to proceed with a sale. These policies dissuade speculative approaches to property investment that often result in price bubbles forming which all to regularly are followed by crashes. The real estate market for housing, or remember the translation, casas Medellin, can offer serious investors real potential.
As the second biggest of the Colombian cities, in terms of people and economics, its reputation has been plagued by violence driven by the illegal trade in narcotics and the gang culture behind this scourge.
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.
These are obviously ideal circumstances to trade property. Commencing around 2002 this market has been growing at a rate in excess of other Colombian cities and international locations. The past unsettled periods of recession saw prices generally maintained, in comparison to declining trends reaching thirty percent both locally and beyond.
It is not only values that show a healthy trend upwards, a lot of the development is upwards as well, in the form of apartments which appear to be in great demand. New developments are springing up all over and particularly within the trendy El Poblado area, described by some as the Beverly Hills of the area.
For those wanting to be closer to typical local lifestyle there are the suburbs of Suramericana, Laureles and Estadio situated west of the Medellin river. These areas are known for their traditional way of life where the sounds of Salsa clubs and smell of great tasting food like Bandeja Paisa are carried in the air. A look through the newspaper free classified section is a good place to start looking.
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.
Regulations controlling the sale of properties in Colombia stipulate that large deposits are needed to proceed with a sale. These policies dissuade speculative approaches to property investment that often result in price bubbles forming which all to regularly are followed by crashes. The real estate market for housing, or remember the translation, casas Medellin, can offer serious investors real potential.
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Great,Simple ideas! I love your blog.
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