A city bustling with life and investment opportunities abound, Medellin is a go-to spot for tourists and foreign investors alike. Known as the City of Eternal Spring, warm weather, exciting entertainment, and welcoming people await you in the Colombian city.
If you’re a foreign investor looking to enjoy high returns on your investment, Medellin should be your investment destination of choice. A dynamic center of commerce and an ever-growing economy, you can realize your investment goals here or make Medellin your second home.
Here’s our guide to investment in Medellin, Antioquia:
Figure out the why
Investing in a foreign country can be a serious undertaking, so you need to figure out what you’re hoping to achieve before you take the plunge.
Are you looking for a luxurious summer home amidst the picturesque beauty of Medellin? Do you want to snatch up amazing properties to rent out? Once you have your priorities sorted, a real estate expert can help you find the perfect properties for your needs.
For a city that welcomes about 550,000 international visitors every year, investing in short-term rental homes may be your best bet if you’re looking for profit maximization.
Understand legal guidelines
Every country has its own legal guidelines for foreign investment, so understanding where Colombia stands on foreign ownership is important.
Luckily, the Colombian government has made the process of investing in the country easy for foreign buyers. Once you find a property you like, you can obtain a Certificate of Tradition and Liberty (Certificado de Tradición y Libertad) which is issued by the Superintendency of Notaries and Legislation. This document includes information regarding the property’s legal claims, ownership records, and mortgage history.
An experienced real estate expert who specializes in working with foreign buyers can walk you through the taxes, fees, and other financial requirements up until you sign the Public Deed (Escritura pública).
Property management
If you’re buying an overseas property with the intention of enjoying the returns on it, it makes sense to opt for property management services. A professional who specializes in managing properties for foreign buyers can handle the day-to-day operations and tasks, ensuring your tenants have a smooth, hassle-free experience.
The rising trend of property management is a viable option for foreign property owners since it helps screen potential tenants, determine rental rates, and maintain the property. A Medellin-based property management expert will be able to efficiently handle tasks that would be almost impossible for you if you’re not physically present.
With years of experience working with foreign buyers, deep real estate market insight, and a passion for luxury real estate, In House Real Estate is the right partner for you. Our full-service solutions ensure you find the perfect properties for your needs and enjoy a seamless purchasing process.
It doesn’t end there. We offer property management services in Medellin that guarantee great rental income returns!
Get in touch with our expert who specializes in helping foreign buyers buy a new home in Medellin.
Take a look at various properties for rent and for sale before you get started.
Have any questions? Reach out to us at sales@inhouserealestate.com.co or +57 3003581202.
