5 Compelling Reasons I’m Jumping into Medellin’s Real Estate Scene in 2024
1. Making Medellin My Home Away from Home
If you’re like me, planning to soak in the vibrant vibes of Medellin for the long haul, investing in real estate here is a no-brainer. Forget the rental grind—Numbeo.com’s stats say it’s economically smarter to snag a property, mainly if you’re sticking around for a decade or more. And selling early is always on the table, adding a sweet touch of flexibility.
2. Riding the Profit Wave of Ever-Increasing Values
Hold onto your hats, folks! Colombia’s National Administrative Department of Statistics spills the beans on a jaw-dropping 37.9% surge in home prices over the last five years. That average 7% yearly boost leaves other countries in the dust. My property’s value skyrocketed by 36% in just half a decade—real estate in Medellin is the gift that keeps giving.
3. Joining a Booming Market in a Growing City
Medellin’s not just growing; it’s exploding! Projected population growth in 2024 is set to hit 4,137,000, an 85% spike from the previous year. We’re talking booming development, expanding horizons, and a city hungry for real estate. With a GDP per capita that’s a cut above, plus a forecasted inflation rate, property values are ready to take off. It’s an investment dream come true!
4. Cashing in on the Airbnb Craze
Fancy raking in the cash with those short-term rentals? Medellin’s got your back. Platforms like Airdna, Guest Le, and Inside Airbnb spill the beans on an average monthly income of around $800, and that’s just the tip of the iceberg. My apartments in El Poblado are hitting an 85% occupancy rate, pulling in a sweet $1,500 a month each. The short-term rental game in Medellin? It’s more like a gold mine.
5. Living the Medellin Dream: Sun, Savings, and a Rockstar Lifestyle
Medellin isn’t just a city; it’s a lifestyle. Imagine a low-cost paradise with perfect weather, friendly locals, and every day feeling like a vacation. Hiring English-speaking locals for less than back home is a game-changer if you’re an online warrior. Nestled among lush green mountains, Medellin offers urban living with a side of breathtaking beauty. Oh, did I mention the thriving expat community? It’s the kind of life that dreams are made of.
Hold on tight because Medellin’s shaking things up in 2024! The new mayor’s got safety on lockdown, with plans for a spanking-new prison, more CCTV cameras, and extra police muscle. Say hello to a safer Medellin, where crime’s taking a back seat, and tourists are lining up. It’s not just rising real estate values; it’s the city’s whole vibe.
Ready to dive into Medellin’s real estate rollercoaster? Don’t just watch; let’s ride!
Bonus: Dive into the nitty-gritty of buying real estate in Medellin with my free Medellin Masterclass Real Estate Course. Click https://medellinmasterclass.com/realestatecourse/ to grab your ticket.