Spacious Duplex for sale in Medellin

deathnova says on Aug 13, 2008, 15:29:

Looks nice, too bad i'm not in the market right now.

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Gringo Spy says on Aug 13, 2008, 18:41:

Looks like this duplex apartment is in the Los Balsos de Oviedo apartment building (4 torres). If that's the case it's just across the street where they are constructing the new Santa Fe Mall. This mall is proposed to be the largest mall in all of Medellin if my memory is correct. They are also constructing an overpass at the intersection of Los Balsos and Avenida Poblado due to the massive amount of traffic this mall will generate. The access to the Los Balsos de Oviedo apartment buildings will be severely impacted. I personally would not be interested in buying in this complex due to the proximity to this new mall and having to deal with the massive amount of congestion.

When I was looking at apartments for investments there were numerous units offered for sale in this complex. The apartments I saw ranged from about 73-94 square meters. Then, last Summer/Fall the prices ranged from 1,900,000 per meter to around 2,100,000 per meter.

Looks like the duplex being offered here has an asking price of 2,400,000 per meter. Knowing what I know about this building (how it was constructed) and it's location next to the new mall the price per meter seems high.

To clarify, I purchased an apartment for investment (from plans) located four blocks from Parque Lleras last Fall for 2,100,000 per meter (This price included three side-by-side parking spaces and two large utility rooms).

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Mononoke28 says on Aug 14, 2008, 11:24:

They still haven't finished that Santa Fé Mall???? They started construction way before I went there almost two years ago. Shoot!

Diana

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Gringo Spy says on Aug 14, 2008, 16:19:

Found this photo of the ongoing construction of the new Santa Fe mall. The apartment building, Los Balsos de Oviedo, is located just to the right of this photograph:



Photograph by Medellin Traveler

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gringoloid says on Aug 14, 2008, 20:49:

GS, are you talking about the buildings with the greenish colored exterior? I understand that they are one half empty.

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Gringo Spy says on Aug 14, 2008, 20:53:

Yes, the group of four towers just above the intersection of Avenida Poblado and Los Balsos.

I'm not aware if they are half empty but when was looking for investment properties there over a year ago, before they started construction of the Santa Fe mall, many people in the building were starting to put their apto's up for sale due to what they felt about the negative impact the new mall would have. I did not buy then and I certainly wouldn't buy there now unless of course it was a smokin' deal.

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gringoloid says on Aug 14, 2008, 21:03:

I was in there not long ago..............the noise from the construction drove everyone out, or so i'm told by the leasing agent. if you can handle the noise, you can rent one at a low price.

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RobertInMedellin says on Aug 15, 2008, 09:05:

Are you sure that a big and upscale mall nearby is a negative? During construction yes, but once it's done? I would think that it could be viewed as a plus, as long as traffic is handled properly. Apartments close to Oviedo and Tesoro are very popular, especially as short-term, furnished rentals.

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Gringo Spy says on Aug 15, 2008, 09:29:

There is no way they will be able to mitigate the amount of traffic this mall will generate. Why do you think many of the owners are selling? I'll tell you why... They are selling because they know full well what is going to happen once this mall opens. Traffic is bad enough in Poblado and this mall will only make it worse not better. Now if you are talking about short term rentals that's an entirely different story. For the right price, a small apartment in Los Balsos might not be a bad investment once the construction is completed. But to buy a "penthouse" in this building would not be a good investment IMHO. Especially when penthouses for rent have been getting so much attention here on PBH. ***DELETED***

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panthdave says on Aug 15, 2008, 11:11:

Prefer my Castropol.....Oviedo..to crazy..

panthdave Miami

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gringoloid says on Aug 15, 2008, 12:27:

I live practically on top of Tesoro mall...........i can tell you honestly that you don't want to live next to a mall.

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CSH says on Sep 8, 2008, 16:49:

The price has been lowered to 420,000,000 COP (approx. $210,000 USD)!!!

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papiChulo says on Sep 9, 2008, 06:36:

WTF!!! approx. $210,000 USD for some piddly arsed duplex in Pooblado!!!!

bloody hell I can buy a 40acre working farm/finca with 5 bedrooms furnished house w/ 2 bedroom flat for empleados with 20 head of dairy cattle,1/2 hour from centro MDE for $135,000 USD.

some of the rudest people I know don't smoke

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