AVERAGE PRICE RANGE OF CONDOS OR APARTMENTS IN MEDELLIN

Hunter says on Feb 25, 2005, 03:34:

kevluvsmedellin Which area, how big in m2, would help.

Hunter

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spigrimace says on Feb 25, 2005, 06:03:

Depends where you want to live Id check elcolombiano.com online and check the classifieds. If its Poblado, Tesoro o Las Palmas, expect 125-175+ millones de pesos asking price for around 85-115 m2.

If you want nice but cheaper areas, you can do Laureles, Estadio, Floresta or Velodromo. Where 75-125 millones should get you in there in a nice apartment.

Also I am assuming you are paying cash. That is a big deal here as sometimes people pay with cars, computers, motos, etc. Forget a mortgage as with the best credit here you still have to pay 18% and few qualify on that so it could go 25-35% annually! If you are paying cash, you have a huge leverage here as its not easy to sell big things here. With that in mind, dont get pressured as there are boatloads of apartments here. Offering 50% of the asking price paying cash is not absurd here. The people are very shrewd here, take their time to play the game and it may literally take 1 to 2 years to sell an apartment. It WILL be there next week, next month. Trust me. But they will tell you it wont be there.

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kevluvsmedellin says on Feb 25, 2005, 09:15:

m2 ok, thanks, yes I would be paying cash. So you say there is an abundance of apartments available and offering much less is common.
Thats good to know.
One thing, I am confused at the term "m2"...its probably very obvious, but what is M2 refer to?

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BlondeJamesBond says on Feb 25, 2005, 09:18:

Size I think they mean the size in square meters

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kevluvsmedellin says on Feb 25, 2005, 09:25:

ahhhhhhhhhh!!!! ok.........thanks........well my house here in southern new jersey is
1200 square feet. I am not sure of the coversion of that to square meters.
its pretty big, So i am thinking at least 800-1200 square feet.
Also, to narrow it downa bit. I figure I would be able to spend 35-45 thousand american $. thats about 80- 95 mil in colombian pesos.
and thanks, i'll check out that site.............

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Rick11 says on Feb 25, 2005, 09:43:

Conversion 1 square meter = 10.76391 square feet
Your 1200 square foot apartment is 111.48 square meters.

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jmbone says on Jun 26, 2005, 10:49:

Apartment prices in Medellin...survey done in 2005 The first quarter of 05 we did a survey relating to apartment prices in Medellin. You can check it out at:

http://medellininfo.com/realestate/index.html

If you live in Medellin, or know the city well, we would appreciate your comments and suggestions regarding the website.

thanks,

Jim Bone

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lpdiver says on Jun 28, 2005, 17:21:

Hey Jim How about a comparison for renting verses purchasing?

T

"cook some rice!"

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miamimike says on Jun 28, 2005, 22:27:

Kevein did you check on: MercadoLibre.com???? Colombia's affiliate of eBay.com?

"Wait a minute. What did you just say? You're predicting $4-a-gallon gas? That's interesting. I hadn't heard that." -- Feb. 28, 2008 --George W. Bush, Washington, D.C.

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