Introduction to Casacol Medellin

Welcome to Casacol, your Medellin Real Estate Advisor. On this page you’ll find a wide range of Medellin real estate listings, apartments and houses for sale in Medellin in addition to resources to help safely guide your investments in Colombia. Our focus is Medellin real estate and only Medellin real estate for foreigners and high net worth locals with a goal of finding the very best income producing properties in Latin America.

You’ll see of some our featured and exclusive Medellin real estate listings for sale below and don’t hesitate to contact any member of our sales team at any time to help guide you through the marketplace as you start your search for real estate in Medellin. The roles of the sales team are divided between projects (Juan Pablo), daily rentals (James) and lifestyle properties (Daniel), see their full bios/profiles below.

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Investing in Medellin Real Estate

Welcome to Casacol, your ally in investment class Medellin real estate, second homes, apartments for sale, condos, hotel investments and income properties. Before you start your search we highly recommend you read our 2021 Foreign Investors Guide to Medellin Real Estate published at Medellin Living. For the last 7 years we have been updating this guide with the most up to date and comprehensive tips and advice for foreigners looking at the Medellin real estate market. The entire Casacol sales team is at your disposition to assist you at any stage of your Medellin real estate search. We look forward to working with you!

We hope you’ll find our real estate listings logically organized in the way our clients are typically searching for. You’ll also find the contacts for our sales team who each have a specific specialty focus at Casacol. Subscribe to our Medellin listings updates to be the first to know when new listings are published (about 1 per week). At bottom of this page we’ve also compiled a “top 10” list of the questions we are most frequently asked by new investors. Thank you for your interest in Medellin Real Estate and in Casacol. Our founder and sales team leader Brad Hinkelman can always be reached at [email protected].

Top 10 Medellin Real Estate FAQ

1) What are the laws like for foreign investment in real estate in Colombia?

The law in Colombia for real estate purchases is applied exactly to foreigners as it is to locals. Colombia has a long history of private property rights as the longest running democracy in Latin America and probably the closest ally of the United States in the region. In order to use your investment for visa/immigration purposes you simply need to register your funds correctly when bringing them into Colombia and file with the central bank.

2) How do I get a bank account to buy real estate?

Banking in Colombia is relatively straightforward however we don’t recommend the use of retail banks you find on every corner. Retail banks (Bancolombia, etc.) are not geared towards foreign investors, lack English at every level in their branches, and lack standard processes for banking with foreigners (even locals). The vast majority of our clients use brokerage firms that are regulated just as banks who have staff that are well versed in foreign investment and business with foreigners in general. Not to mention lower foreign exchange rates. When you’re ready we’ll point you in the right direction.

3) How has the Medellin real estate market done in the last 5, 10, 15, 20 years?

The Medellin real estate market is remarkably non-volatile unlike many foreign markets. According to data from the Lonja of Medellin (Medellin Real Estate Association) the market in $COP has increased 6-10% per year in almost every 5 year period over the last 20 years.

4) What are the capital gains taxes in Colombia?

Short-term capital gains (less than a 24 month holding period) is treated as ordinary income an taxed at a non-resident rate of 35%. Long-term capital gains (>24 months) are taxed at 10%.

5) What kind of occupancy rates can I expect on Medellin real estate?

For properties focused on tourism/foreign clients, we have averaged close to 85% annual occupancy rates since our beginning, even on daily rentals. This requires an incredibly dedicated and hard working property management team to maintain these levels throughout the year on our >500 keys in 2021.

6) How much are the closing costs associated with Medellin real estate.

While closing costs can vary slightly for buyers and seller, the sum of legal fees, notary fees and transfer taxes will add up somewhere close to 2% for each of buyer and seller.

7) How much does Casacol charge to manage my property?

Our management fees range from 10-20% depending on a range of factors including “core building” status, daily/monthly rental and optional services. We’ll share our management contract with you upon request when you’re ready to review.

8) How are the prospects for the future of the Medellin real estate market?

Travel and tourism to Colombia has been on an ever increasing, compounding rate for the last 10-15 years. Medellin real estate values have steadily outperformed even the largest drops in COP in recent years, and the world wakes up more and more every day to the opportunities in Colombia. There are risks with every single investment decision, including Medellin real estate – you must search through the “hay stack”. At the right stage, let’s talk about the risks at the same time as the opportunities so you have a full perspective on the Medellin real estate market.

9) How do I get my money out of Colombia?

Anyone in real estate knows this saying: “everybody sells”. And when the time comes for you, you simply perform the transaction in reverse, that is: sell the asset, receive funds in COP, convert to USD, send yourself USD, cancel foreign investment.

10) How do I get started with Casacol?

Contact one of our sales team members directly or all at once at [email protected]. We try to learn the unique needs of each individual client before matching you to potential properties or investments. Then come for a visit, get to know our entire team, our founder, tour our core rental buildings, individual properties, our hotel projects, etc., before you narrow down to the right fit.