The most popular Colombian real estate is located in Cartagena. It is here that an unprecedented increase in housing prices has been observed recently.
The cost of many residential properties has increased five to seven times, and does not stop there. In Cartagena, foreign investors are interested in both housing in the historical part of the city and comfortable apartments in new buildings on the outskirts of the capital. Naturally, the location of residential real estate plays a decisive role in shaping its price. For example, housing in the capital today is sold at prices ranging from two and a half to three thousand US dollars per square meter. At the same time, it is important to know (and be sure to pay attention to this) that houses and apartments located in the center, as a rule, have not been restored for a long time, and these worries will fall on your shoulders – as a homeowner. Renovated houses and apartments are much more expensive – up to six thousand US dollars per square meter of housing. On the outskirts of Cartagena, the cost of residential real estate is somewhat cheaper, but still prices remain quite high. For example, housing in a restored house will cost the buyer from three and a half to five thousand US dollars per square meter. New housing in new buildings costs about one and a half – three thousand US dollars per square meter.
But Cartagena is not the only place to buy property that foreign investors are interested in. It is also extremely profitable to buy a home on the coast. As a rule, it is represented by multi-level condominiums with well-developed own infrastructure, including swimming pools, gyms, garages, parking lots, and so on.