Bogota Real Estate Market - Is Now The Right Time To Purchase?

I would appreciate your comments regarding the pros and cons of purchasing an apartment in Bogota today? We plan to retire in Bogota in 5-7 years and would like to "hedge" the future investment by purchasing today and renting the property in the interim, if the market is right? My feeling is that the "baby boomers" who plan to retire in the next 5-10 years and live in Latin America will soon be flooding into beautiful cities such as Bogota and prices will jump as a result. My impression is that the holding costs (taxes, insurance, etc.) are a fraction of what we pay in the US and that this fact alone adds value to the idea of purchasing now?

Also, I would also appreciate any real estate agent references, property managers, etc. that I might contact.

Any other related information as to location, etc. would be very much appreciated.

By mneillamb on Oct 12, 2004, 09:31 in Friendly Talkzone.

Mr. Hollywood says on Oct 12, 2004, 10:29:

Think about the dollar Considering how much a beating the dollar has taken lately, you should think about how that factors into your idea of Bogota as a bargain. My hunch, from seeing the massive amounts of construction going on, is that a supply glut is coming but isn't here yet.

0 funny, 0 helpful.