RealEstateCOL has left 6 comments

RealEstateCOL comments on Euro 1.52 Peso 1,838

There's one factor that sets Medellin apart from other colombian cities. The problem is that there's not much available space in Medellin for new constructions, the only option is to tear down old houses. According to some statistic published last year by the local developer's association, if the current construction level continues, there'll be absolutely no land left in Medellin for new constructions in less than FOUR years from now. So, in a way the city has a problem like Hong Kong, no space for new constructions, the only way is up. So, the prices will stabilize but not go down, I think. For those who don't know Medellin, the city is on a valley surrounded by mountains so there's no space left to expand the city. Unlike Bogota which has huge plains to the west.

RealEstateCOL comments on Euro 1.52 Peso 1,838

RAAY, the spike was 44%, amazing. It's the most expensive area outside Medellin, for those who live in or near Medellin, you may notice the huge construction boom in that area, there are Malls, Hospitals, restaurants, warehouses, etc. all over the place. Recently I saw an offer for one "cuadra", that's about 1.6 acres, for 1,500 million pesos (with today's rate that's $816,104 dollars).

RealEstateCOL comments on Colombian Peso highest level since 1999

And the Euro closed at 1.51 dollars for 1 Euro

RealEstateCOL comments on Emigrating with debt?

Say you skip your debt, move to Medellin, and eventually (I'd rather say, forcefully) you need to open a bank account or even better, you decide to buy property or whatever. As many people here have experienced, renting an apartment in Colombia, opening a bank account or buying real estate means tons of red tape, you need to show lots of credit history, since you don't have any from Colombia you need to provide documents issued in the US, and what will happen when you try to get those documents from US banks or lenders?

RealEstateCOL comments on Dollar plunges against colombian Peso

Albatross, someone ripped you off !!!

RealEstateCOL comments on Mat

If your looking for a condo in Medellin email me with your budget and requirements at: vincer03 at latinmail.com