Apartment Prices - Medellin

tomtom33 says on Feb 24, 2008, 11:58:

I found many older units last year in Laureles for less than US$500/M2. I just bought a house this year in Santa Mónica for much less than US$500/M2.

I don't think that the realtor matters that much. Just give them your parameters and ask them to show you what they have. I can't help with the English part.

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lpdiver says on Feb 24, 2008, 12:06:

five hundred dollars per square meter. damn thats some high dollar real estate.

t

"cook some rice!"

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nueva york bombero says on Feb 24, 2008, 12:10:

What's the first step as a gringo to purchasing property there?
Dual citizenship? Or is that after the purchase?

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Lisa Zee says on Feb 24, 2008, 12:15:

bickerss: if you want to buy a new place, I can help you . We will set you up with all kinds of info and in English.
There are apartments and houses all over Medellin with very affordable prices.

We also sell in Bogota.

P/M if you are a serious buyer. (No rentals please)

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nueva york bombero says on Feb 24, 2008, 12:18:

Wait a minute Lisa....
You live in California and you're going to help him buy a place in Medellin?
Please explain.....

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Lisa Zee says on Feb 24, 2008, 12:39:

Very easy: one of my brothers is a developer. If you want to buy, I give you more information, but not here.

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Lisa Zee says on Feb 24, 2008, 12:41:

All you need is a valid passport and money in the bank, it could be here in the States or wherever you are from.

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tomtom33 says on Feb 24, 2008, 15:08:

Correct, Lisa. However, if your money is in a foreign bank, be prepared for a lot of hassle getting the Colombian bank to release the money once you have wired it to them. Avoid Bancolombia.

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Lisa Zee says on Feb 24, 2008, 15:17:

I open a Citibank acc. here, and there are many in Medellin, I tranfer all the money I want and withdrow any time in Medellin.

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tomtom33 says on Feb 24, 2008, 15:26:

Will Citibank open an account for someone with no cedula?

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fecherklyn says on Feb 24, 2008, 15:55:

Bickerss,

I might have something (private sale) that could interest you?

Also know an extremely efficient local real estate agency that I have used several times over recent years and can recommend.

If interested, send me email.

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Lisa Zee says on Feb 24, 2008, 18:44:

Tomtom33: I opened the acct in the USA first. To open a bank acct in Colombia, you have to have a job and proof of it, or .... ROSCA with someone that works at a bank! LOL

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tomtom33 says on Feb 25, 2008, 01:23:

I haven't held a job anywhere in the last 9 years. I opened an account with BBVA in October of last year with my cedula extranjero(2-year VISA).

The reason I mention problems opening an account is that I tried to open an account with Bancolombia 3 different times over a 3-year period with a CE. Every time they took my application, had me in for interviews, and asked for additional info. Every time I was refused. I was finally told that Bancolombia will not open any account for anyone who is not a permanent VISA holder.

Bancolombia still has 9 million pesos of my money that was deposited into the account of my novia. They say that the money was stolen from the account. It has been over 3 months now, and they still won't give me my 9 million pesos.

Colombian banks are a real mind fuck.

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nueva york bombero says on Feb 25, 2008, 11:13:

Sounds interesting! Thanks for the info!
I'm rethinking buying property there......

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chrispej says on Feb 25, 2008, 20:16:

"Colombian banks are a real mind fuck."

Well said tomtom33........

I don't even want to explain......

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M7 says on Mar 1, 2008, 18:01:

I purchased my apartment in Medellin with www.viventanet.com they have offices in Miami and New York. They walked me through the process and everything is straight up and legal.

Sure you pay a bit extra for the broker services but the peace of mind having "training wheels" throughout the process was worth it (for me).

Good Luck

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gillettij says on Mar 3, 2008, 03:53:

#1) All you need is money to buy real estate in Colombia.
#2) To have a bank account in Colombia you need a Cedula.
#3) You can get your Cedula after you get your visa.
#4) I am an English speaking realtor and can help you.
#5) Medellin real estate is one of the least expensive on earth.
#6) Send me an email whenever you want my help.

www.medellinrental.com

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robi666 says on Mar 3, 2008, 07:37:

Number 2 is wrong.

"I am a citizen of the most beautiful nation on earth. A nation whose laws are harsh yet simple, a nation that never cheats, which is immense and without borders, where life is lived in the present."

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bickerss says on Mar 3, 2008, 07:51:

gilettij - thanks. I have found that the prices here are quite high - 1500 USD a sq mtre is much more than surrounding countries I think? Are youtalking second hand? I will PM you.

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RAAAY says on Mar 3, 2008, 07:53:

Number 1 is also wrong...................

Number 5 is also wrong

Number 6 is therefore a risky idea...............

.........Its useless to argue with ignorance

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Lisa Zee says on Mar 3, 2008, 08:37:

Gilleti John: I see, you are a realtor? what kind of scam are planing now, any suckers yet???

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bickerss says on Mar 4, 2008, 08:15:

Have now found prices for second hand from about 900 to 1100 usd / sq metre.

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robi666 says on Mar 4, 2008, 09:54:

You can have good apartments for lower than that in El Poblado.

"I am a citizen of the most beautiful nation on earth. A nation whose laws are harsh yet simple, a nation that never cheats, which is immense and without borders, where life is lived in the present."

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rhydewithdis says on Mar 4, 2008, 09:55:

Here are some comparative figures taken from recent apartment sales in Medellin (this is current as of eight months back)...

I've listed it as follows (all prices are in pesos per square meter):

Area *** Min Price *** Max Price *** Median Price
Belen *** 1.313.000 *** 2.030.167 *** 1.646.863
El Poblado *** 1.750.667 *** 2.754.754 *** 2.267.060
Laureles-Estadio *** 1.112.069 *** 2.013.415 *** 1.642.606
Envigado *** 896.875 *** 2.369.231 *** 1.781.280

For my purposes, if I wanted to purchase a place in Poblado, the price per sq. ft at the high end is 257,453 pesos (approx USD$130). So a 1,500 sq. ft apartment in a presumably very high end building would run around $195k. In the midrange, you could probably pick up something similar in size for around $105/sq. ft. or around $160k.

They said I couldn't play football I was too small / They say I couldn't play basketball I wasn't tall / They say I couldn't play baseball at all / And now everyday of my life I ball.

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tomtom33 says on Mar 4, 2008, 10:47:

Guess I don't understand Min Price because I saw a lot of places for less than 1 million/m2 in Jan. of last year in Laureles. And I bought one for less than 900k/m2.

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