Investment property in Colombia

bickerss says on Oct 27, 2007, 00:50:

very interesting article. I for one am looking to invest in Coombia, taking into considerations the inherent risks as well. I think the country has a great future for those who are able to manage the financial risks.

Investment Strategy - buying when others are crying!! Offloading when others are gloating!!!

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robi666 (Trustee board) says on Oct 27, 2007, 07:25:

Old news, already a couple of threads on PBH about that, the first more than two months ago... a lot of blah blah lately but nothing has been decided yet.

"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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Chelesupercono says on Oct 27, 2007, 10:16:

It all sounds great...but I doubt that it will or can happen anytime soon.....this is one of the most bureaucratic countries I have ever seen....and for Latin America that's saying a lot..That is also why real tourism here will never happen....imagine: changing dollars in only one bank, signing a double sided form 4 times and then getting finger printed? Tourism? Cuando los Perros Hablan.....

never go to bed with someone crazier then you are, you will do it and you will regret it.......

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tomtom33 (☼Travelguide writer) says on Oct 27, 2007, 16:27:

john_stark says on Oct 27, 2007, 16:33:

I don't think Colombians have any idea how many obstacles they put in the way of attracting foreign investment to their country. Very few of them have any experience outside their own country anyway so I don't think they realize what's going on in the big wide world out there. Why screw around with all this red tape when there are so many other places that don't have Colombia's drawbacks. I wouldn't invest 10 cents in the place.

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miamimike says on Oct 27, 2007, 23:25:

Wonder how all these Ex-Pat Americanos are feeling NOW who invested in Nicaragua(buying houses, condos ect) before Daniel Ortiz's Return to power? They had a Great program set up for US retirees as far as getting Pensioner's Visas but the bets are off now since Ortiz has returned to power. One website stated in some areas there is a sense of panic in selling due the Fear Ortiz will return to his old ways(Sandinistas, Contra battles).May be true, as he was railing at the US in the UN Convention recently, very chummy with Evo, Hugo and Fidel,,,Thats the downside and risk of investing in these latin american housing markets,,,Maybe better to rent as GIB advises,,,

Avatar Legend: Bush "If any of you Reporters are wondering, it was a Size 10"

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TioJoe says on Oct 28, 2007, 02:15:

Guess we could all buy a second home in the USA -- I hear the prices are pretty good or perhaps invest in the euphoric stock market fueled by $93 oil and 1.2 billion dollar per quarter losses for financial institutions. I bought my home 3 years ago in Bogota and could sell it for twice what I paid today. The obstacles are a test however the minimal capital risk vs gain justifies the effort.

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Medellin Traveler says on Oct 28, 2007, 07:01:

"The obstacles are a test however the minimal capital risk vs gain justifies the effort" - TiJoe

Yes. I completely agree. What fun would it be if it was just so simple for gringos to buy property in any foreign country? If that was the case everyone, including your neighbor would be buying a second home in Colombia, and we don't want that.... do we?

"Huevos Rancheros en Medellin, No Quiero Taco Bell." - www.medellintraveler.com

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David Pristupa says on Oct 28, 2007, 10:27:

.......another dude with deep pockets trying
to colonize......

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TioJoe says on Oct 28, 2007, 11:28:

This "Dude" has been traveling in an out of Colombia for about 20 years and this is the second home we have purchased in Bogota. I do not know what miniscule amount you consider deep pockets however you have arrived at a simplistic conclusion with very few facts.

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robi666 (Trustee board) says on Oct 28, 2007, 13:33:

Purchasing a second house in Colombia...
Frankly, I can't see why one would want to buy a vacation property in Colombia.
If you want to invest there are much better places to put your money. As for tourism, Colombia is far from being a main destination.
Also, the quality of construction and maintenance on the coast is poor. The probability they'll charge some extra money for work they'll never do is high.
Owning a rental property in Santa Marta or Cartagena (free zone for the new law) without having the possibility of continuously check it and just relying on a local agency must be a nightmare: just imagine the condition of your apartment after two years.

Now, if you have a "vision", you'd want to buy land in some gorgeous place and wait 10 years to see what happens. But you'll be out the range of the new law anyway...

The only reason to buy is if you live here and you want to have an income in local money as safety anchor in case of the cost of life gets too high.
Buying your own apartment is a way of generating income in Pesos. Also, renting out can give around 7% net plus the increase in value of the property.

"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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