Table of Contents

Click to jump to section

1. Introduction to the Medellin Real Estate industry and opportunity
2. Who we are, what we do?
3. The Medellin Real Estate Guide
   1. Step 1: What are your goals?
   2. Step 2: The importance of location
   3. Step 3: Newer vs. Older Construction
   4. Step 4: Money and Banking 
   5. Step 5: The negotiation
   6. Step 6: Purchase Agreement
   7. Step 7: Closing
4. Updates for 2023
   1. Medellin Real Estate Post-COVID
   2. Remote Work Impacts
   3. Colombian Politics and Presidency 2022-2026
   4. Tax Update 2023
5. Special Topics
   1. Buying in Pre-Construction Projects
   2. Questions to ask developers
   3. Currency considerations
   4. Medellin real estate bubble talk

Introduction

It’s with pleasure that I take the opportunity to update our 7-step Medellin real estate guide for 2023. In this edition I have made a number of important edits and updates including:

• After effects of COVID
• Remote work trends in Medellin
• The new Colombian President (2022-2026)
• 2023 Tax update

The year also marks 15 years since my first visit to Colombia. During this time I’ve seen Medellín grow up from a backpacker hangout to an emerging world-class city to live and invest in. At Casacol we now manage more than $100M USD in Medellin real estate assets. The remote work trend consistently ranking Medellin in the global “Top 10” has transformed the market to where housing and rental costs are now a major political topic. 

Not just for Millennials, retirees too have found Medellin to be a great escape for vacations and 2nd or 3rd homes. General tourism to Colombia is now well above its long-term travel boom trend. International arrivals to the MDE airport are now 42% (as of the June 2022 Update) higher than the 2019 pre-COVID peak and 2023 is up another 10-15% on top of this.

Source: Airplan

Indeed the future looks very bright for the City of Medellin, and especially the Medellin real estate market. As the world continues to globalize, Medellin’s place in world travel and remote living and international investing will continue to increase. Those of you interested in how to participate in the Medellin real estate boom will read on and I hope benefit from this guide which documents my 15 years of experience doing real estate business here.

Who Are We, What Do We Do?

My company, Casacol (like “Casa Colombia”), helps foreign, local, junior and professional investors, 2nd home buyers, and hotel investors realize their investment and real estate diversification goals in Medellín. We are highly, highly focused on expertise in the Medellin real estate market (not Bogota, not Cartagena, not Cali), where our deep experience and focus on ground-up real estate development, traditional real estate brokerage, and high-efficiency property management leads to significantly higher returns than I’ve been able to find anywhere else in Colombia.

We work with everything from studio apartments and high ROI investment properties (our listings are here) to luxury $1M homes, penthouse properties, and hotels (both condo and boutique). For example, see most recently the newly expanded Celestino Hotel and Spa, the acclaimed Marquee Hotel, and our newest Landmark hotel project. Our entire portfolio of managed properties can be found at en.casacol.co.

Plus, we don’t sell anything that we wouldn’t manage for you, which means we offer highly efficient and effective property management and solid returns on your asset long after you’ve made your purchase. A strong property management track record is important when liquidating your investment real estate at the best possible price. We can help during the entire cycle of investment in Medellin real estate from acquisition to disposition.

However the buyer must beware in the Medellin real estate market. The industry here is not regulated as it is in developed countries. Many participants are out to make a quick buck at the expense of the foreign investor. I’ve made a lot of mistakes and seen a lot that others have made too. I hope you can learn from that experience during this guide.

RELOCATING YOUR LIFE OR PARTING WITH A CHUNK OF YOUR LIFE SAVINGS TO INVEST IN AN EMERGING ECONOMY LIKE COLOMBIA IS NOT A DECISION TO BE TAKEN LIGHTLY.

That is the theme of this guide: A comprehensive 7-step guide for investors large and small, starting out, winding down, or just diversifying some assets, whatever your goals are, how to invest safely and securely in Medellín real estate during the entire purchase, management and sales process.

Step 1: So, You Want to Invest in Medellín Real Estate?

The first question you need to ask yourself is “why?”

Here are the most commonly stated reasons:

• I want an investment that produces a high monthly income
• I want a place to live/live part-time/retire in, or rent out
• I need a visa/want permanent residence

There is a big difference between making a home buying decision and an investment buying decision. In my experience, the places that make great homes to live in and show off to your friends (large apartments, fincas, etc.) are not usually the best ROI-producing investments.

Likewise, the best investment properties (generally smaller studios and one or two-bedroom short-term rental apartments and boutique hotels) are not usually where you want to live. It’s important to decide early on where on the spectrum you wish to be as a buyer and realize you can’t have it all.

We also have a lot of buyers wanting to buy real estate in Medellin because they want a visa/cedula/residency/second passport. I tell everyone in this category:

“BUY MEDELLÍN REAL ESTATE BECAUSE YOU THINK IT WOULD BE A GOOD INVESTMENT FOR YOU, BUT DON’T MAKE POTENTIALLY A BAD INVESTMENT BECAUSE ALL YOU NEED IS A VISA.”

If all you need is a Colombian visa then find a lawyer you like and find the solution for your case. Also remember that you can stay up to 180 days/year in Colombia up to 90 days at a time. And yes Colombia now offers their version of the digital nomad visa for up to 2 years albeit with a long list of rules and regulations. Real estate investment is still the most sure path to a Colombian visa/residence but you should focus on the quality of the investment vs. getting the visa itself.

Step 2:  Location, Location, Location

Heard this before? It’s true everywhere on the planet, and it’s true here in the Medellín real estate market as well. Once you’ve contemplated either living or investing here, you need to turn your head to where.

Looking for an Investment?

If what you want is a high-income producing investment, then you should be looking at a very short list of high-quality, very well-located buildings with modern amenities that ideally allow for (legal) short-term rentals, probably in Poblado and potentially Laureles, where you’ll find 90% of the demand from foreign business and leisure travelers. Most hotel properties are owned by investment groups large and small (just like ours) and also represent high yielding dividend assets.

Note: Just being inside Poblado or Laureles is not enough. These are huge neighborhoods with large parts that are not ideal for rentals/investment class real estate. You should be near very specific arterial routes, with good amenities, and close to commercial centers, restaurants, groceries, parks, or else your renters will eventually find something better! Probably 99% of visitors/tourists are walking/UBERing so don’t make the location difficult for them.

Looking for a Place to Live? The World Is Your
Oyster.

Medellin real estate can go anywhere from studio apartments to farmland, Laureles, Bello, Sabaneta, and everything in between across a population of almost 4 million people and 10s of thousands of buildings (remember, most modern Medellin real estate is high-density, multi-family, high-rise. FYI: The closest thing to an MLS/Zillow in Colombia is here at FincaRaiz. While many of the properties are duplicated, improperly listed, or bait listed to get your contact, it’s a good place to start for interest in the local market and building your knowledge and learning some general comps.

Choosing a place to live is like choosing what clothes you want to wear today, it’s entirely personal, and no one in our office will talk you out of a specific location unless you’re truly making a mistake.

Personally, I’m partial to Poblado (Golden Mile, Alejandria, Provenza, Astorga, Manila) and Laureles (Park 1, 2, Avenida Jardin, La 70) for places to live and invest. Not to mention in 2020, we launched one of the most beautiful and successful projects in Laureles, Laureles Factory Lofts.

Step 3: Decision Time. New vs. Old Construction

There are two philosophies on this topic:

1. Buy something old and “cheap,” fix it up nice, rent it out, flip it, etc.
2. Buy something new, modern, no need for modifications/improvements, furnish and collect rent.

Older Buildings

There are some beautiful, high-quality, and superbly well-located older buildings in the Medellin real estate market.

Properly renovated (or not), they could be the kind of places you want to live in with large spacious bedrooms, lots of parking, and an abundance of storage space, maid and nanny quarters.

If you’ve done renovations before, understand the language, or can do some of the work yourself, you may also be up for the challenge in Colombia. Most of these are horror stories like anywhere else in the world renovating older buildings, so be forewarned.

Also, older buildings are often amenity-poor with high administration fees, which can affect the demand as a rental/resale and, therefore, your return as an investor. Having said that, Colombians are totally allergic to high HOA/administration fees and will sometimes be willing to dump older buildings at prices below replacement costs! 

But renting older apartments in buildings with elderly/wealthy neighbors can also be a problem. Who do you think rents large 3-5 bedroom apartments? Groups of younger, single males, large noisy families. Not always consistent with being a good neighbor.

Many of these older buildings are instating minimum 6-12 month rental periods to avoid the influx of short-term and often illegal furnished rentals. However, there are some success stories as well. Over the years, our clients bought out the residents (mostly seniors) in the Ayamonte Provenza building and successfully converted it to short-term rentals. We’ve had a 90% average short-term occupancy rate in this building. Talk about teaching old dogs new tricks.

New/Modern Buildings

Newer buildings usually have a long list of amenities that your renters often want to enjoy (pool, gym, sauna/Turkish bath, jacuzzi, floor-to-ceiling views, open kitchens, modern layouts, finishings, etc.).

Combined with a lack of buildable land and an ever-strict city planning department, this is why new construction in Poblado is approaching $12,000,000+ pesos/square meter in 2022 (almost $2500 USD/sq meter or approx $230 sq/ft). And other buildings like Energy Living, where we manage the vast majority of sales and rentals, you’ll find the highest prices (and rental rates!) in Medellín at the moment at $14,000,000 COP/m2 and beyond.

However, higher prices in newer buildings come with higher rental prices as well, so the math often works out in your favor. That’s not to mention liquidity; selling in newer, professionally managed buildings is much easier. 

If the new building is designed with short-term rentals in mind like our Soul and Loma Verde projects (see all of our Medellin apartment rentals here), then you’re definitely buying into a secure and steady income-producing asset. Even during the height of the pandemic, nobody here lost money in any month during 2020.

The bottom line is that there is no right or wrong answer here. There are pros and cons to new and older construction, and Medellín real estate buyers just need to apply their personal or financial preferences to every option.

At the end of this article, I’ve included some special notes that apply to buying in pre-construction projects and go over opportunities, risks, and important questions to ask the promoters and developers as well.

Step 4:  Money and Banking: To SAS or Not to SAS

You want to set up your Colombian bank accounts as soon as possible if you’re going to make a purchase. It can 2-4 weeks to open an account, and the sellers will take your offer a lot more seriously if they know you’ve already gone through this phase.

Too many foreigners start negotiating without even having the ability to execute financially, and I’ve seen good deals fall through as a result of anxious Colombians who just move on if they don’t sign and get paid quickly.

Alianza Valores is a great Colombian banking resource (our preference) and one of the only ones who really know how to handle foreign investment in Medellin real estate. Many foreign investors know Felipe Chavez (private banker) personally, and you can contact him directly at fchavez@alianza.com.co. Local banks like Bancolombia, while they have a strong retail brand and presence, are very difficult/impossible banks to work with as a foreigner, even though they can be owned by foreigners (like Scotiabank Colpatria). Alianza has been the easiest to do business with for us during the last 10 years. 

Buying Within an SAS

At this same point in time, you may also want to make the decision of whether to place the property in your name or in the name of your company, which has a two to three-week setup time.

An “SAS” in Colombia is somewhat analogous to an American LLC with the same kinds of rights, flexibility, and legal separation of your assets.

I have personally decided to maintain almost all of my properties in the name of my company because it affords me lots of flexibility tax-wise, and I don’t particularly like my name showing up in public records. However, I’m a tax resident and run a 300-employee business, so I have a lot of flexibility with write-offs, depreciation, etc.

But if you’re a non-resident buying just a couple of properties it probably doesn’t make a lot of sense, not to mention the 35% tax rate. Maintaining a SAS in Colombia is a lot more time-consuming and much more expensive than in other countries. I’ve seen some lawyers and accountants recommend an SAS blindly to foreigners because they can charge more fees vs. an SAS being the right ownership/tax vehicle for the client. Also winding down a SAS after you’ve disposed of its assets is even more expensive and time-consuming than the start-up. 

See near the end of this article for a more comprehensive update on Colombian taxes in 2023 including some advice on when to consider a SAS for your Medellin real estate holdings.

Step 5:  The Negotiation and Offer

It’s important to know where the Medellin real estate investment process ends before you begin. This is often the most critical part of any real estate transaction, especially in Colombia.

This is also where you want your lawyer and real estate agent heavily involved; a full title study if you have any doubts about who the seller is, a purchase contract that works for you, negotiation advice, and all the paperwork at the end of the transaction.

Colombians (Paisas at least) rarely use lawyers for Medellin real estate conveyance, instead placing the administrative burden on the usually unexperienced agent to do the running around in the notary. But as a foreigner you’re probably paying a lawyer to make this error and stress free. Do your homework and pick the lawyer that you think will accomplish that for you. Beware of lawyers who don’t specialize in real estate transactions. Medellin lawyers especially are famous for not disclosing what they know how to do (well) and don’t. This is not the time for a legal novice or generalist.

Also, remember when doing transactions with locals that Colombians are, on average, pretty sophisticated buyers and sellers of property. Most Colombians don’t trust the stock market or even government or corporate bonds, so buying and selling property is much more common and emotional here than you would think.

They can also be shrewd negotiators. We once saw an 86-year-old woman refuse to negotiate in any way on her terms or price on a very expensive piece of real estate she was selling directly without any agency representation. She repeatedly told us, “the buyer can take it or leave it, I’m in no rush, I have lots of time left.” Eventually, we closed the deal, but she got her price.

The seller will let you know if the price is negotiable. Or, you may need to ask upfront. If the price is clearly inflated, then that’s another invitation to negotiate (low-ball) or just walk away. A good Medellin real estate agent who is interested in a long-term relationship with you will help you navigate this – it’s their job. If you have doubts, then ask for a professional, 3rd party appraisal (at your choosing and cost) to have an extra data point for your negotiations. Overpaying in unfortunately common for foreigners. I’ve seen many sellers who overpaid sometimes 2, 3, 4 years of future appreciation, and then expect some unreasonable XYZ% return on their investment.

Step 6:  The Purchase Agreement

A verbal negotiation on price and terms ends with a signed and notarized purchase agreement in Spanish known as the promesa de compraventa, a legally binding document.

While the Paisas are known for their foreign hospitality, you may see that stop when it comes to money matters.

It’s not uncommon for your Colombian negotiating partner to make demands or renegotiate verbal offers right up until the actual promesa is signed in the notary. Words and handshakes mean a lot less in Colombia than they might in your home country. But a signed and notarized document is where the buck stops and you have a deal.

Don’t take it personally, it’s just a part of the culture to negotiate hard and up until the 11th hour here. Feel free to make demands you deem necessary, no one will be offended, it’s just business.

We’ve seen this process take from three days to three months end to end. It all depends on the buyer and seller, strong legal/notary support, the existence of a mortgage will delay closing, etc. Every transaction is somewhat unique. Hotel (condo and boutique) investments can often be simplified due to the standardized nature of the contracts.

The most important clauses to be negotiated in a promesa de compraventa are the following:

1. What’s Included in the Price?

Parking, storage, appliances, ceiling lamps, furniture?

Generally speaking, anything that isn’t fastened to the apartment the owner may want to remove, including light bulbs, curtains, appliances, etc. We’ve seen some weird stuff, so just get it in writing (again, in writing!) if there’s something you want to keep.

2. Deposit/Down Payment or the Anticipo

This is to secure the deal and is usually 10%-20%, but if the owner has a mortgage, they may ask for more so the mortgage can be cleared.

We’ve seen up to 50%, and for the right price, it may be a good deal for the buyer to make a larger anticipo. Sometimes you can negotiate lower prices for higher down payments as well.

This can cause heartburn to some foreigners because you are technically giving the seller some money without getting anything (like a title) in return—there’s no escrow.

However, you are, in fact, protected by the penalty clause, which is a serious legal matter if not satisfied (see the next point).

3. Penalty Clause or the Cláusula Penal

This states that the buyer and seller do what they are contracting to do in the promesa on the timelines and in the amounts of money that they promise.

After signing this legal document, if you don’t proceed as a buyer, you could lose your anticipo, and if you don’t proceed as a seller, you could be sued and have your property “embargoed” with a lien for the amount of the agreed upon penalty, usually 10-20 percent.

4. Commercial and Declared Values (AKA the Valor Comercial or Valor Catastral)

In Colombia, like much of Latin America, there usually exists a gap between commercial values (what you pay) and declared values (what goes on the title). 

You absolutely need your agent or lawyer to advise you on what is right for you here, especially if you are talking about visa/residency matters, as every case is unique. Since the 2019/2020 tax reform, the government is closing this loophole of under-declaring property values. The best practice is to require the full value of the deed unless you want to assume the seller’s tax obligations when you eventually go to sell. There are some interesting flexibility options here for negotiating out the value of furniture in a furnished apartment. 

5. Settling of Any Mortgages/Liens

In Colombia, it is impossible to transfer titles (notary conveyance) unless the property is free of mortgages/liens/building administration/property taxes.

It’s good protection for the buyer, but it can delay the process by up to a month due to lack of escrow and bank processing of the mortgage, etc.

A good lawyer is on top of this every day to ensure this is done in weeks and not months.

6. Proration of Taxes/Rent/HOA Fees

This is just a math exercise. The property taxes need to be paid for the entire calendar year and then prorated to the date of title transfer or if the seller is giving you keys early, date of delivery, or entrega.

Same for monthly HOA fees, and in the case of buying a property that is currently generating rental income, that rental income should be split and prorated appropriately as well between buyer/seller.

7. The Signing of Escrituras or the Titles

The promesa will state a date, time, and location of a notary visit/signing for all parties to exchange final payment via cheque or bank transfer, hand over keys, and sign the title over from the previous owner to the new owner.

This is essentially where you finish the purchase process.

Step 7:  Final Paperwork and Deed Registration

If all has gone smoothly, then you’ve signed titles in the notary, exchanged cheques/money transfers, paid your share of notary fees/taxes (budget 1.25-1.50 percent of the purchase price plus lawyer fees for closing costs), and have keys to your new place. Closing costs shouldn’t exceed 2% of the value of the property you buy.

There are a series of steps, however, that your lawyer should now do to make sure everything flows properly in the department of Registro, which oversees land titles/registries. Again inexperienced real estate lawyers will often disappear here once their fees are paid.

This process ends with a refresh of the certificado de tradición y libertad, which can be pulled online and will show that you are the official owner and that all electronic records have been updated. Don’t forget about this part!

We’ve seen errors in registro after 20 years when someone thinks they owned property that they didn’t wind up being a nightmare. 

You’re also now free to instruct your lawyer to start the central bank registration of your invested funds if you intend to use your property purchase for visa/residency purposes.

Obtaining a Colombian ID card (the cedula) will follow as well.  But, you are essentially done. Enjoy.

2023 Update #1: Post COVID Colombia

As I pen this update in 2023, we are in the midst of yet another strong year for the Medellin real estate market unlike many other parts of the world. Inflation is running high, construction costs have spiraled up, interest rates are high, but the economy is generally quite strong. These post-COVID stimulus effects have the result of pushing prices up across the board for Medellin real estate. You can see local news commentary summarizing the post-COVID effects here (La Republica) and here (InfoBae). Colombians generally love real estate because it is such a great inflation hedge over the long term beating most if not all other asset classes long-term.

2023 Update #2: Remote Work

Ten or fifteen years ago, remote work was usually associated with hiding from your boss and guilt of not being in the office and visible to your staff or co-workers. Five to ten years ago many online entrepreneurs were starting to discover the attractiveness is remote work in Medellin. Time zones, climate, quality and cost of living all ranked high on lists of remote work commentators like Nomad List. Post-COVID, the acceptance of flexible, hybrid, remote work, working-vacations globally have led to a massive influx of foreigners to Medellin more than any other city in Colombia. However as local housing prices get pushed up, the people and politicians in Medellin like many cities in the world are starting to ask, “how much is too much?”. 

2023 Update #3: The Gustavo Petro Presidency

The last year was important for Colombia politically because we elected a new congress in March 2022, and a new president on August 7, 2022, Gustavo Petro. Colombia has become more politically divided (it seems just like everywhere else in the World) than I have seen in the past. The media coverage in both Colombia and globally about the elections was a story of “Left” vs. “Right” with lots of fear-mongering on all sides. The reality of Colombian politics is that the country has been the most stable democracy in the history of Latin America and is the closest ally of the United States in the region, whether you like that fact or not. I don’t think this will change. Colombian congress is today “center-right,” and keeping the President in check from making large reforms that could hurt the economy. 

Check out these “Amigos” here after the election results.

2023 Update #4: Taxes

While this is not an article about Colombian taxes it would be remiss without some commentary/update as there is a new tax reform/regime in place as of 2023. If you’re thinking about becoming a tax resident (= 183 of the last 365 days) in Colombia you should read this for a good summary from PWC. Colombia has global income and wealth taxes that could affect you but generally you won’t be double taxed (when using tax credits). Keep in mind that having a resident visa doesn’t mean necessarily that you are a tax resident; tax residency is strictly as I defined above.

Almost all companies in Colombia pay 35% corporate tax rates unless abated by special programs such as those that were (in the past) available for hotels (like ours!) where the rate could be as low as 9%. Dividends paid to non-residents have a 20% WHT automatically applied whether paid to local or foreign accounts it doesn’t matter.

Income in Colombia is taxed at progressive rates for residents at up to 39% and flat rates for non-residents at 35%. Assets can be depreciated for residents (including SAS) at a rate of 45 years = 2.22%/year. If your tax rates at home are >35% then you’ll use a tax credit for what you pay in Colombia to avoid double taxation. If your tax rate is <35% then income earned in Colombia will unlikely result in additional taxes paid at home.

My advice is unfortunately not to trust most accountants in Colombia and you should seek true professionals affiliated with international networks, here is a decent list. A bad accountant (most are bad) will mean you will pay more in fines than you will ever pay in accounting fees. When the totality of your income in Colombia is subject to source retention taxes (like we offer at Casacol) you have no obligation to file in Colombia.

Special Topic: Buying in Pre-Construction Projects

When buying Medellin real estate from pre-construction “developers” it is important to note that a slightly different process is involved. I put developers in quotes because everyone with a graphic designer and a friend who owns a buildable lot seems to be a developer now with a fancy presentation deck. Always be careful about who you are doing business with and do some diligence about who is really behind all the fancy logos on the “Team.” 

The pre-construction purchase process often starts with signing a no obligation hoja de negociación or a letter of intent with the builder or developer to hold your place. You may be asked to put a small amount of money down at this stage, and it can be from 1-5 percent and usually gets deposited at the Fiducia (escrow) account.

Fiduciaries in Colombia are regulated financial entities that offer an escrow-like service to builders/developers to handle all the money/contracts associated with a new development. They guarantee nothing, however. If the project aborts, they have little obligation to help you out, it’s mostly symbolic confidence. You NEED to know who you are doing business with, their experience, track record, and property management strategy. Conflicts with developers and fiduciary companies in Colombia take years to be resolved when you need to go to court. Many of these issues can be avoided by doing your homework ahead of time.

The Fiducia does offer some safety and organization to pre-construction projects however because the Fiduciary will enforce the buyers’ contracts as well to make sure they are paying on time, etc., paying the builder in installments as he meets sales goals. The Fiduciaries act as traffic cops to ensure buyers and builders do their part on time.

Instead of signing a promesa de compraventa for new construction, you will sign the encargo with the Fiduciaria, which serves a similar purpose and legal obligation as a promesa de compraventa of a titled property.

“IN GENERAL, AFTER ALL MY YEARS OF WITNESSING BOTH SUCCESSFUL AND FAILED PRE-CONSTRUCTION PROJECTS, MY CONCLUSION WOULD BE TO WATCH THE MARKETING STRATEGY OF THE DEVELOPER/PROMOTER VERY CLOSELY.”

The most successful developers either build for themselves (build to own – because they believe so much in the product or using bank financing) or market to their existing clients in a private fashion without fancy sales rooms, without “Call now” banners hanging from the sidewalk. No billboards, no Instagram, no free steak knives. Because, by definition, they have a long-term successful money-making relationship with those investors who return to invest again and again.

“One-timers” are going to have the fanciest marketing materials, renders, videos, and social media you’ve ever seen. It’s hard not to look at their Instagram ads, because they are good! Let’s be honest, real estate needs to be marketed to be sold, but the most successful developers sell out projects in days or weeks with a simple “Hey old clients, we have a new project” email to their client base, not with social media. Younger or small investors (<$50k USD) can often fall prey to the sizzle vs. the steak. Facebook and Instagram social media have become completely polluted with Medellin real estate projects in recent years that mostly never see the light of day.

In Summary: 8 Questions to Ask Before You Invest in a Pre-Construction Medellin Real Estate Project if You Have Any Doubts

1. Who’s the whole team? Lead developer, architecture, structural and civil engineering, project management, sales/promotion? Resume (hoja de vida) for each team member.
2. What stake does any/all of the team have in the final project? Or are they just going to sell out to investors? Or has the “team” padded their profits with participation just to tell you, “we are already 50% sold, don’t miss out?”
3. Is there a construction license approved? Ask to see the submitted plans in PDF, and compare them to what you are being sold, floor by floor. 
4. Does the builder/GC have any gray hair? Medellin is full of junior engineers looking for their first real project. Personally I don’t want 20-somethings making my structural design decisions.
5. If they are claiming something like “X% already sold, act fast,”—how many buyers and how many units/shares have they bought each? Have they done business with you before? Can I speak with 2 or 3 of them personally? Ask for a reference from an existing client.
6. If it’s an investment property, who’s the property manager or operator? Check their resume, references, experience, and track record. Compare their REAL, delivered, historical ROIs, and track record of meeting expectations to what is being promised/suggested by the sales promoter.
7. Financial engineering, do your ROI projections include appreciation (hope and a prayer, especially in $USD terms), or are they cash on cash returns? Big difference!
8. Liquidity, what about when I sell? Who’s going to help me exit the investment in the future? Because if the business isn’t working, never mind about price/value, because liquidity=0.

Thoughts on $USD/$COP in 2023

Today (July 2023 update), the USD stands at $4200 COP, a historically very low point for the COP during a year of high volatility. Many people ask me for my thoughts on what the COP will do in the next X months/years. I have no idea. Nobody knows. When I started investing in 2008 the COP was a strong as 1800/$1 USD. The trend in the last 15 years is simply that politicians in Colombia can’t help themselves but print money and inflate the COP to pay for short-term projects. I don’t expect that to change. It means that you need to think of price and appreciation, rents, etc., in both USD and COP terms to build a proper perspective. Medellin real estate (and real estate in general) historical absorbs inflation very well. But over the long term one should been reasonable about appreciation potential in USD terms. This is a market to extract high ROI and rents, not always appreciation. High quality assets that can be priced for rent/sale in USD vs. COP will serve the Medellin real estate investor well. This is 100% our focus as a company.

Medellin Real Estate Bubble?

Here’s another question I get asked a lot, prices are way up (in COP terms) in the last 5, 10, years, is Medellin in a real estate bubble? It seems like ever since 2008, everyone is a bubble watcher. The first question I always ask is, do you know how an investment bubble is defined?

AN INVESTMENT BUBBLE TYPICALLY GOES THROUGH STAGES OF 1) BOOM, THEN 2) EUPHORIA, THEN 3) PROFIT-TAKING, THEN 4) PANIC/SELLOFF.

Given that foreign investment in Colombia is still low as a % of the market, credit is relatively hard to get for locals, mortgages are not possible for foreigners, mortgage interest rates are high (18%+ in 2023), and mortgage down payment requirements are 30% (by law) and that Colombia already learned dearly from their 1998-1999 real estate bubble and subsequent financial crisis, I don’t see conditions for a bubble in Medellin real estate. I wouldn’t even say we are in a “boom.” I think the market here, on average, is well balanced between supply and demand. And today in 2023, the costs of construction have increased so much due to an ever decreasing COP vs USD, I don’t see how prices fall (in COP terms). Regardless, I always enjoy these debates with our new and existing clients.

Summary

Buying property in a foreign country like Colombia can be exciting and very rewarding both personally and financially, as I can attest to in my experience after 15 years of investing and doing business here, helping primarily foreigners find high-quality real estate investments in Medellin.

The key is to seek advice from people who are licensed, affiliated with local and national organizations, trained, specialized, and have a deep set of knowledge and experience in doing what you need them to do.

At Casacol, I’ve built a team and ecosystem of highly trained agents, project managers, expert property managers, legal experts, bankers, and accountants to help foreigners looking to invest in Medellín.

Medellín Living readers can read more about my company here and can contact me directly at sales@casacol.co to discuss their investment priorities at any time.

Thanks for reading, I hope this article has been useful for all.

Brad.

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Where can you grab a cup of coffee from the best-tasting beans in the world? As a coffee purist, I’m here to convince you that the Marquee Hotel is the place.

If you find yourself strolling through the El Poblado neighborhood, grab some caffeine while you’re at it! There’s a lot to see. Stay energized. 

Sipping Some Coffee at the Marquee

At the hotel’s restaurant, Abbiocco by Carmen, you’ll have the chance to try a wide variety of coffee beans prepared in different artisan ways. But if you’re craving some lunch, try tasting their Italian-inspired cuisine peppered with Colombian fresh ingredients. 

Pay your respects to the gourmet chefs Carmen Angel and Rob Pevetts and tell them what you think!

The best part of this restaurant is its outdoor seating, decorated with pots and overgrown plants that give a perfect natural atmosphere for a peaceful coffee time.

After looking through the menu, you will understand the popularity of this restaurant. 

Choose to drink the traditional coffee, or go further and try your luck at the Caffe Speziale Menu (available from 9 am to 4 pm). Some of the caffeine classics are:

• Americano
• Espresso
• Macchiato
• Latte 
• Cappuccino
• Cold Brew Abbiocco

Medellin is a country with some of the highest quality beans in the world, Don’t miss the opportunity to try a coffee with a balanced aroma, body, acidity, and flavor.

Depending on the type of coffee you order and the number of servings desired, the waiter will bring the coffee machine you prefer. The options are:

• V-60
• Aeropress
• Chemex
• French press

There are three varieties of coffee offered by Abbiocco. Each one has different profiles, so if you don’t know what your style is yet, you can ask for some help from the barista.

1. Elegant: balanced profile attributed to traditional Colombian fermentation and drying methods.
2. Exotic: fruity profile, with strong flavors from experimental fermentation methods.
3. Gesha: Globally recognized variety characterized by fine attributes: floral aroma and flavor similar to tea.

The Desserts Menu

If you have room for dessert and are craving something sweeter than bitter (but tasty) coffee, the menu here will not disappoint.

The Fresas & nata is an almond sponge cake topped with brow butter buttercream and garnished with local fresh strawberries, jam, Colombian vanilla créme, and macadamias. This choice is an option that takes a rest from the citrus flavors of Colombian coffee.

Another well-known dish is the Affogato. The Affogato is a blend of hazelnut gelato, stracciatella gelato, cocoa, and rum truffle. The waiter will sometimes pour espresso brought directly from Tamesis, a small coffee-producing village southwest of Antioquia.

 Don’t forget about liqueurs such as sparkling wines, cocktails, and snacks!

Coffee Tasting Tour at the Marquee

If you want to get a coffee-tasting experience under your belt while in Medellin, you can book a tour with the best professional baristas in coffee brewing. Luckily, this activity isn’t exclusive to hotel guests, so you can get access to it even if you’re staying somewhere else.

Sip, smell and swirl this experience. It’s an educational yet fun activity to learn a little more about Colombian coffee, harvesting, production, treatment, and grinding until it reaches your morning cup.

Coffee tasting is affordable and only takes about an hour, so it’s perfect for a last-minute adventure. 

Getting to the Marquee Hotel

The Marquee Hotel is in one of the busiest and most hustling neighborhoods of Medellin, El Poblado. The Marquee has scenic walks and other tourist attractions in the city, like Parque Lineal La Presidenta and San Fernando Plaza.

When Using the metro, just get off at the Poblado station and walk for 15 minutes. Taxis or  ride-share apps are other alternatives.

Website:https://marqueemedellin.com/es/marquee-hotel-medellin/

Address: Cra. 38 #9A-13, El Poblado, Medellín, Antioquia

Go for an Afternoon Coffee at the Marquee

Despite the variety of beautiful cafes throughout El Poblado, your experience in the Marquee will stand out among the others.

Are you planning to visit the Marquee Hotel? What’s your favorite kind of coffee? Let us know in the comments!

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Whether you want to bring a tattooed souvenir from your trip to Medellin or to get that tattoo you wanted a long time ago, the Medellin Tattoo Expo is the perfect opportunity to get some new ink. 

Does this sound like something you might like? Then keep on reading to know how to prepare for and what to expect at Medellin Tattoo Expo 2022!

An Overview of Medellin Tattoo Expo 2022

The Medellín Tattoo Expo is an annual cultural exhibition created in 2010. Over the course of three days, famous tattooists of national and international stature gather to demonstrate their skills in tattoo competitions. 

At the event, attendees can enjoy other events such as:

• Live painting
• Graffiti contest and gallery
• Breakdance battle
• Live music performances
• Miss & Mister tattoo event
• Art fusion (two artists on the same canvas)

The goal of the event is to bring together ink and art lovers to show the world their talent and promote local art.

This is also a place where you can get a spontaneous tattoo or buy some merchandise from your favorite tattoo studio.

Getting Your Tickets and How to Get There

The event takes place every year in the yellow pavilion of Plaza Mayor, one of the city’s largest and most important convention centers.

One of the benefits of Plaza Mayor is its generous amount of parking lots in case you’re planning to drive there. 

However, the quickest way to get there is by taking the metro. All you have to do is get to the Alpujarra or Exposiciones stations; both are a few minutes from the convention center. You can also take other means of transport such as Metroplus, and bike.

Once you arrive, you can buy your tickets at the entrance of the pavilion or purchase them on the Plaza Mayor website.

Usually, the tickets for events that take place in Plaza Mayor are very budget-friendly. But, keep in mind that once you enter the pavilion, you won’t be able to leave unless you want to pay for two tickets.

Website:https://plazamayor.com.co/eventos/expotatuajemedellin-2022/

Instagram: @expotatuajemedellin

Address: Cra. 57 # 41-81, La Candelaria, Medellín, Antioquia

Tattoo Artists at the Expo

The Medellin Tattoo Expo brings Latin American, American, and Canadian artists together. In other words, you can find different techniques and styles from the best and most recognized tattoo artists.

Some of the styles you’ll find at the event, which is also categories of the tattoo contest, are:

• Lettering
• Oriental
• Freehand
• Color realism
• Old school
• New school
• Dotwork
• Art fusion
• Minimalist
• Shadow realism
• Neotraditional

When you enter the convention, you’ll have hundreds of booths to choose from. Then, it’s up to you to find your favorite style and design to get tattooed, or just stroll through the convention halls and enjoy the artistic and chill vibe.

Keep in mind that if you want a more detailed tattoo, you should schedule an appointment with the artist beforehand. However, if what you want is some last-minute ink, you can try getting a tattoo with an international artist who doesn’t have many clients or appointments. 

I also recommend you regularly keep an eye on the Medellin Tattoo Expo social networks since that’s where they publish artists who need volunteers to be a canvas. While you won’t get to pick the tattoo, it’s a great way to get some free ink!

Art Galleries, Live Painting, and Music Performances

The Medellin Tattoo Expo is also a place to enjoy other events such as painting exhibitions, dance shows, and other activities. 

For instance, at this year’s expo, there was a collaborative piece of graffiti, where 6 professional artists created a blend of urban and traditional styles. Apparently, the process takes the entire 3 days of the expo!

The goal of the graffiti piece is to show each day’s progress and to teach the public a little about the proper techniques to use paint sprays.

Another interesting part of the expo is the wide variety of DJs and artists that will lift your spirits with their many different music genres.

The Medellin Tattoo Expo also offers workshops for those who wish to learn more about the different categories of tattoos. If you want to know which workshops will be held for the expo, you should keep an eye on the event’s social media.

You can’t miss the old school and realism workshop. Just remember that the seats are limited, so make sure you get to the workshop place in advance. Some of the topics to be addressed in the workshop are:

1. Theory
2. Materials 
3. Live tattoo
4. Personal questions

Tips for Enjoying Medellin Tattoo Expo

If you’re spending all day (or all three days) at the convention, there are a few things to keep in mind:

• Take everything you need to spend the day without leaving the pavilion (to avoid having to pay for re-entry). 
• There are places to buy something to eat or drink, but you can also bring some snacks with you.
• If you want to get tattooed at the event, you should schedule an appointment with the artist in advance. 
• If you want a small tattoo, make sure you have the image handy. 
• If you want to be a canvas for an artist, you must schedule an appointment in advance. Usually, they’ll give you very good discounts since you won’t choose the design. 

Get Some New Ink at the Medellin Tattoo Expo 2022

Whether you want to get a new tattoo or just spend the day admiring national and international artists’ interesting works of art, Medellin Tattoo Expo 2022 is an event that you should check out.

Are you thinking of getting a new tattoo? What’s your favorite style? Let us know in the comments!

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Medellin Factory Lofts Coworking is one of those cozy coworking spaces dedicated to individuals who are looking for a quiet space to get some deep work done while feeling at home.

Whether you want to make high-quality content for your travel blog or buckle down and answer emails, this rustic industrial studio has everything you need to get to know Medellin while doing your work. 

Read on to learn everything you need to know about Factory Lofts Coworking!

What to Know About Getting Some Work Done in Medellin

Currently, in Medellin, you’ll find many coworking spaces, especially in neighborhoods such as El Poblado and Laureles. These places generally host a high volume of digital nomads looking for the right place to have an important meeting or work quietly. 

Factory Lofts is one such space and is located in Laureles, one of the most popular and close to downtown Medellin neighborhoods. This neighborhood is famous for several other tourist attractions, such as: 

• Parque de los Pies Descalzos
• Cerro Nutibara
• Museo del Agua EPM
• San Joaquin Park
• Atanasio Girardot Stadium

This is great because you can check these sights out after you get work done!

When you book a room at Factory Lofts, you have access to the coworking space on the second floor. This is a perfect place to spend the entire day working or have an important meeting in one of its private rooms.

What makes this coworking space different is its atmosphere, specially designed to boost creativity, good ideas, and professionalism. There are plenty of big windows as well so that you can enjoy the view of the Laureles neighborhood.

Other perks and amenities you can take advantage of:

• High-speed fiber optic internet, perfect for those who need a faster wifi connection
• 24/7 reception
• Coffee maker and a fully equipped kitchenette to make snacks
• 8 desks and 4 private offices
• A fully equipped recording studio
• In-house restaurant

Inside Factory Lofts Coworking Space

Whether you want to spend some time alone while you finish your chores or have a meeting with your workgroup, the coworking space tables and offices are ideal for any type of work.

Using this space for a day costs about $5 USD (subject to change). However, if you plan to be there for a little longer, you can also purchase special weekly or monthly prices. The longer the plan you purchase the bigger the discount will be.

The coworking area offered is also available to hotel guests. And even if you just want to take a 15-minute break, you can grab a cool drink and kick back on a plush sofa while you get some inspiration to keep working.

Also, lockers are available where you can store your laptop or valuables, so you can make sure your belongings are safe while taking a walk around to clear your mind.

Stay In the Fancy Lofts

If you want to enjoy the coworking space for an extended period of time, you can stay in one of its lofts. In addition to enjoying an exceptional location and offering a panoramic view of Laureles neighborhood,  you can enjoy other amenities such as:

• Queen our double-size bed
• Private bathroom
• Fridge and microwave
• Fully equipped kitchenette
• Air conditioner
• Smart TV
• Safe deposit box

In addition, if your thing is working from the comfort of your hotel room or Airbnb, you can use the workspace at the desk in your loft. There you can also enjoy the high-speed fiber optic wifi and get your work done without any problem. 

If you don’t want to test your cooking skills in the kitchenette, you can always order something from the hotel restaurant. SMASH Avocadería is located in the lobby, or there’s a BBC beer station if you just want a drink.

Another great advantage of the location of Factory Lofts Coworking is its proximity to La 70, the party and restaurant street where you can enjoy the Laureles nightlife. Once you’ve got the party started at the beer station, put on your dancing shoes and hit the streets.

Pro tip: The chocolate and protein pancakes with a base of cocoa, banana, and vegan protein from SMASH are to die for! They come accompanied by a mix of banana, cranberry, Greek yogurt, cocoa nibs, and maple honey on top. Perfect to get the energy you need to start working!

Take a Dip in the Pool After Work

Then, after a long hard day’s work, you can have some me-time and take in the city view on the eighth-floor terrace. 

There you can enjoy one of the best rooftop pools in Medellin and get a perfect tan while enjoying a drink from the bar. 

The pool is heated, but honestly the best way to clear your mind after burning the midnight oil is to cool off in the pool and then warm up in the hotel jacuzzi.

Keep in mind that you have to request the jacuzzi service at the front desk in advance (thirty minutes should be enough). Make the request at the beginning of the day when you check in for work so that it’s ready to go once you finish!

Bring Some Work to Factory Lofts Coworking

Finding the ideal coworking space can significantly improve your productivity. Factory Lofts not only creates this atmosphere but is close to home for those who choose to stay in the building. 

And of course, with hopping nightlife just a stone’s throw away, you’ve got plenty of places to go for happy hour when you’re ready to close up shop.

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In fact, Medellin has some of the most diverse food options in South America. 

While you can get pretty much anything your heart desires, for those who love Italian meals, you’ve got to check out Abbiocco by Carmen.

Keep reading and find out everything you need to know about Abbiocco by Carmen, a high-class Italian restaurant located in one of the most luxurious hotels in Medellín.

Getting to Abbiocco by Carmen

Abbiocco by Carmen is located in the heart of Parque Lleras, on the first floor of the  Marquee hotel. The Marquee happens to be one of the best hotels in the city and was actually the set for reggaetón star J Balvin’s music video El Poblado. 

The hotel’s central location makes it easy to get to. There are a few different ways to arrive, which we’ve outlined for you below. 

Arriving by Metro

To get to Abbiocco by Metro, just get on from any station, take Line A heading south, and get off at the Poblado station. There, you can take a bus from the integrated route system to Parque Lleras. Or, if you prefer, you can walk. 

The exact amount of time it will take you to get to the restaurant depends on where you’re coming from. From Laureles, for example, it can take approximately 30 to 40 minutes. However, if you’re already in the Poblado area, you’re likely able to cut that down by as much as half.

Arriving by Private Car 

Lots of visitors to Medellin choose to rent a car. Renting a vehicle is a fast, easy way to get around the city. And, with ample parking even in the center, you shouldn’t have a problem making your way around Medellin in your own car. 

Abbiocco has some dedicated parking in the next-door mayor’s office. Otherwise, you can park in the larger lot about half a block from the Marquee.

Alternatively, you can book a driver service. This is probably your best bet if you’re nervous about driving in another country or don’t have an international license. 

Other Transportation Options 

Aside from the metro, you can also arrive at Abbiocco by bus. There are a number of different nearby stops, so it’ll make it a short walk to get there.

However, by far the easiest way to get to Abbiocco by Carmen is to simply stay at the Marquee Hotel. Not only are the rooms fantastic, but you can head up to the rooftop or down to the jazz bar after you’ve finished your meal at Abbiocco. 

The Idea Behind Abbiocco by Carmen 

Okay, enough about transportation—let’s get to the point. 

Abbiocco’s food promises an explosion of flavors that combines the best of Colombian ingredients, creating Italian dishes. 

The whole idea behind the restaurant, in other words, is to use Colombian ingredients and flavors to add to and inspire Italian dishes. 

Abbiocco obtains all the ingredients of its preparations from small suppliers, supporting artisan fishermen and farmers and guaranteeing the highest quality products given its selected ingredients.

All the fish and shellfish in this place are obtained from suppliers that use traditional and responsible fishing methods from the coastal communities of Colombia.

By eating here, you’re not just supporting a fantastic restaurant; you’re also supporting hardworking communities and ethical sourcing here in Colombia.

What’s on the Menu

Abbiocco splits its menu into four main sections: 

• From the Garden: salads, varieties of vegetables, and vegetarian pizzas
• From the Sea: Italian-style fish and seafood
• From the Land: beef and pork, pasta, meat pizzas, or a Colombian-Italian cheese board.
• Sweet: desserts and finishers

You can order cocktails, wines, and liquor to accompany these dishes. Or, of course, there’s always water, sodas, and juices. Finish off with one of the many types of coffee as a way to settle your stomach!

On top of the dinner and lunch menu, special breakfast meals are available for those staying at the hotel. Just like the dinner and lunch courses, all these foods are prepared using wholesome Colombian ingredients. 

The breakfast menu is quite different from the dinner menu, with things like granola, yogurt, fruit, or croissants. Just make sure to pair whatever you order with a tasty mimosa. It’s the perfect way to wake you up and get you ready for the day ahead. 

What We Recommend

We know that it can be tough to make a decision about what to order at Abbiocco. After all, with a menu as mouthwatering as theirs, it can be hard to order just one thing. 

If you’re on the fence, there are a few critically acclaimed dishes that are sure to satisfy even the pickiest of pallets. 

Here are a few of our top recommendations: 

• Pez Bianco: catch of the day poached & encrusted in Pecorino Romano & walnuts, leek risotto, seafood consommé.
• Porchetta: slow-roasted pork bacon porchetta, accompanied with arracacha, garlic fermented honey, citrus & oregano salad.
• Honeycomb: two rolls of local honey crisp with caved aged, creamy Potê cheese and Andean cloud forest blueberries.
• Blu Lagoon Cocktail: lime-infused Havana Club rum, green chartreuse, coconut falernum, orange & lime

Of course, anything is good. But, these are a few fan favorites that are sure to please the crowd no matter what you’re looking for. 

Abbiocco: A Must Visit 

Abbiocco is one of those places that everyone should visit at least once. Even though it’s an Italian restaurant, all the ingredients are local, and the dishes combine Colombian flavors with classic Italian recipes.

Even if you’re just in the city for a short visit, we’d say this place should still be at the top of your list. 

And, if you’re looking for other great restaurants? Be sure to check out our other posts. We’ve done tons of reviews on restaurants and bars around the city that you shouldn’t miss when you’re in Medellín. 

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While you can always switch on the AC, I personally think there’s nothing better than taking a dip in a pool.

So, whether you want to enjoy some me-time by the poolside or you’re looking to get some exercise, there are plenty of places to enjoy the dry season in Medellin.

Prepare your duck float; in this article, I’ll show you where to go for a swim around Medellín!

Aeroparque Juan Pablo II

The largest water park in the city, Aeroparque Juan Pablo is top of the list when it comes to the best swimming pools in Medellín. 

The park has water slides, swimming pools, splash zones, children’s pool, and a semi-Olympic pool for those who want to train hard and burn calories.

If you’re going to stay in Medellin for a while, you can also enroll in the hydro aerobics classes that are held from Tuesday to Friday in the mornings. It’s a great way to try new things and make friends in the process.

Other activities you can try at the park include:

• Swimming lessons on the weekends
• Turkish baths every Sunday

The ticket price to the park is very reasonable, regardless of whether you’re going for a workout or you just want to have fun. 

Just remember to pack the following items so you can stay safe and have fun in the sun: 

• Water bottles
• Waterproof sunscreen
• Snacks
• A wide-brimmed hat
• A change of dry clothes
• Swimming cap
• Lycra swimsuit

Rooftop Pool at the Marquee

One of the best places to cool off while admiring Medellin’s sunset with a Muay Thai in hand is the rooftop at the Marquee Hotel. 

In fact, I’d say this is the perfect place to go on a date or chill out with your group of friends!

The one thing you should know is that you do have to be a guest of the hotel to access the pool. Still, that just makes it that much easier to enjoy your time. 

No need to worry about designated drivers; grab some cocktails and lounge in the pool before strolling downstairs to your room!

Piscina La Ladera

This pool is free to access as it belongs to the Medellin mayor’s office. So, if you’re on a bit of a budget, this is the place to go. 

Whereas some of the other pools I’ll talk about are great places to relax and wind down, this pool is dedicated to sports. Here, you can either swim laps or join one of the many aquatic classes that go on.

To get into the pool, you only need a valid ID (your passport works fine) and a suitable swimsuit. 

While the pool does get a bit crowded, it’s still a nice place to splash around and cool off for a bit. Just remember—the place is closed on Mondays for cleaning and maintenance!

Piscina Los Alcazares

This pool is located in a sports center, so you can also access its classes and other machinery and services.

A few of the classes they offer here include: 

• Water activities for babies
• Swimming lessons
• Aquatic activities for the elderly
• Therapeutic swimming
• Swimming for pregnant women
• Disabled swimming
• Aquagym 
• Aquaerobics

I’ve done the aquaerobics classes, and trust me, they’re hard!

To enter the Alcazares pool, you need a valid ID. You’ll get the first hour free and then pay a small per-hour fee to keep using the pool.

Insider tip: The best times to go swimming are weekdays in the morning, as there are not many people, so it’s a great time to go swim laps!

Landmark Hotel

This pool on the terrace of a pet-friendly hotel has incredible views of Medellin! Plus,the staff at this place is fantastic, so it really makes for a great swim. 

The Landmark Hotel is located in one of the most popular neighborhoods of Medellin, Poblado. You’ll get stunning views of the area from the roof of the swimming pool!

The hotel also has a hot tub, and since nights can get chilly in Medellín, that’s the perfect place to hang out. 

The hotel doesn’t have a private parking lot, but the staff is very friendly and can order a taxi for you.

Atanasio Girardot Sports Complex

This is the largest sports center in Medellin. Admission is free, and you can make a reservation and swim some laps here without a problem. 

The reservation system is great because it helps limit how many people are using the pool at once. That prevents things from getting overly crowded. 

If you want to try something new, there are other types of sports and classes you can participate in at the center:

• All swimming styles 
• Diving
• Synchronized swimming
• Water polo
• Underwater rugby
• Underwater hockey
• Scuba diving
• Freediving
• Swim with monofin and bifin

If your plan is to get some exercise and stay fit, this is the perfect place to spend the day.

Hotel Estelar

This pool is located in another Poblado hotel and is open everyday during daylight hours. 

The pool here is slightly larger, and it’s best to use it during the morning when there are fewer people. You can even swing by the spa afterward to work out the kinks from your swimming exercise!

Take a Dip in the Best Pools of Medellin

There are tons of great places to go for a swim around Medellin.

Whether you’re looking for a family experience or a relaxing day with your date, in Medellin, you’ll find a lot of options to choose from. Slap on some sunscreen and enjoy a refreshing day at the pool!

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Still, if your goal is to extend your understanding of Medellin past, well, Medellin, there are some other great places to check out. 

The Termales Santa Rosa de Cabal are one of those places, being one of the top places to visit in Colombia. Keep reading for everything you need to know about the Termales Santa Rosa de Cabal!

What to Know About Santa Rosa de Cabal 

Santa Rosa de Cabal is a town located 15 kilometers (about 7 miles) from Pereira, the capital of the Colombian coffee region, and is one of the main tourist places in this area of the country. 

In fact, this part of the country is a World Heritage Site for its Colombian coffee cultural landscape.

The reason so many people head out there is because Santa Rosa de Cabal is right on the cusp of Los Nevados National Natural Park. There, you can also enjoy the famous Santarrosano Chorizo or go on a coffee tour. 

However, the real draw are the hot springs, known as the Termales Santa Rosa de Cabal, with natural hot pools where you can kiss aches and pains goodbye.

How to Get to the Termales Santa Rosa de Cabal 

Courtesy of Booking.com

To get to the hot springs, you’ll first need to get to Santa Rosa. You can get there by taking a bus from Medellín to Pereira and then transferring to a bus that goes out to Santa Rosa. 

Depending on each city is the travel time, but here are a few times and distances to Santa Rosa de Cabal:

• From Pereira: 15 km (about 8 miles) and 30 minutes of travel
• From Armenia: 60 km (about 40 miles) and 1 hour and 30 minutes of travel
• From Manizales: 40 km (about 25 miles) and 57 minutes of travel

Once you make it to Santa Rosa, you can take a bus in front of the mayor’s office for approximately $2,500 COP to get to the hot springs. Or, just take a taxi from the main square for a slightly higher price.

Remember that most buses go directly to the town, and From Santa Rosa to the hot springs, the route is 11 kilometers (about 6 miles) long and takes 35 minutes.

If you want to skip the public transport, you can always go in a rental car. But, this option tends to be a bit more costly (even if it is more comfortable).

What to Expect From the Termales Santa Rosa de Cabal

Once you get to Santa Rosa de Cabal, there’s a lot to see and do. That’s true even if you’re not just there for the hot springs!

Here’s what to expect while you’re there. 

The Hot Springs

The hot springs of the Termales Santa Rosa have four thermal water pools that reach as much as 100°F, as well as a 285 foot high waterfall called Santa Helena. The waterfall is surrounded by mountains and high rocky walls that give it a striking appearance.

Even though it’s definitely a tourist hotspot, the atmosphere of the place is very natural. There’s  vegetation and streams everywhere that are really charming.

Also, in these hot springs there are bars where you can buy drinks and snacks. Sip on a cocktail or even just order a pitcher of cold juice. It’s the perfect way to cool down after soaking in the water for a while.

To enter this wet area, the site offers wristbands that let you tay for up to four hours. But, it’s important to make reservations well in advance or to get there early. 

The springs fill up fast!

The Hotel

At the Termales Santa Rosa de Cabal there’s a hotel with three different buildings for you to pick from:

• Hotel Termales de la Cascada
• Hotel Termales del Río
• Hotel Termales de la Montaña 

These hotels offer reservations for groups or for couples. They even offer a day trip from the hotel where you have the right to enjoy private hot springs and a 180-meter-high waterfall called the San Miguel Waterfall.

Some of the hotel buildings have a swimming pool, others have their own restaurant, and they all have a beautiful view of the mountains that surround the place.

Plus, most of the rooms include breakfast so you don’t have to worry about finding somewhere to eat.

The San Miguel Termal Spa

In the Termales Santa Rosa spa, you can get various beauty and self-care rituals such as facials and body treatments. 

All the treatments use thermal mud, which is said to have tons of skin benefits. Plus, the treatments use volcanic stones and mineral water to help give your body vital nutrients.

The treatments are actually pretty affordable, too, so if you feel like pampering yourself, this is a good place to do it.

Guided Hikes

The hotel also organizes a guided hike up to the mountains behind the hot springs. The hike only lasts about an hour or two. 

On the hike, you’ll be given gum boots so that you don’t get your feet and legs wet on the way up. 

Once you’re up in the mountains, you’ll get to see the source of the hot springs, a natural sauna, and a large cold waterfall. 

You’ll also get a chance to go for a swim in the lukewarm waters of the thermal river!

Visit the Termales Santa Rosa de Cabal  

The Termales Santa Rosa de Cabal are undoubtedly a first-class tourist attraction. There’s tons of stuff to do there, so it’s no wonder.

So, what do you say? Are you ready to head there yourself? Tell us about your experience in the comments!

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The trouble is, with so much to enjoy, it can be tough to know how many days to spend in Medellin.

It all depends on what your priorities are when planning your trip, what you prefer to visit, what you like to do, and if you prefer a more relaxed or super-active vacation. 

Still have questions? Keep reading for a guide on how long to spend in Medellin.

How Many Days Should You Stay in Medellin?

Medellin is a place where you could stay for months and not get bored. However, you can still see a good chunk of things if you’re there for a short time.

In general, we’d say you need at least three days to get a feel for the city. However, if you’re wanting to really see the city you should spend at least one week in Medellin. 

This will give you the time to enjoy cultural tours, nightlife, and ecological getaways to the city’s surrounding pueblos.

Think About What You Want to See and Do

Choosing what to do in Medellin is the first step to planning how long you’ll stay. 

Medellin proper has tons of amazing things to offer such as beautiful views from the Antioquian mountains like in Pueblito Paisa, and luxury stays in penthouse suites. Plus, there’s some exquisite local and international cuisine and incredible nightlife.

On the other hand, if you prefer spending time in the great outdoors, visiting some of the towns around Medellin is an experience that you shouldn’t miss! Places such as Guatape, Parque Arvi or Santa Elena, and Santa Fe de Antioquia offer unique experiences for nature lovers. 

Think about what it is that you want to do to get a clear idea of how long you want to stay in Medellin.

Itinerary for Urban Explorers

If your goal is to explore everything the city has to offer, we’ve got you covered. Here’s a sample itinerary to help you plan an urban vacation in Medellin.

First day

Your first day in Medellin is the perfect time to go on a walking tour of the city. There are some iconic outdoor parks and plazas that you can check out as you stroll through the city:

• La Plaza Botero
• El Parque de Berrio
• El Paseo de Junín
• El Edificio Coltejer
• The Palace of Culture
• El Parque de las Luces
• The old Antioquia Tram station

Although you can simply visit these places alone, there are organized tours that you can take. These are generally a safer way to explore the city.

Day Two

Day two is the perfect time to go museum hopping! Medellin has tons of great museums, such as the Museo de Antioquia, located downtown, Parque Explora, and the Botanical Garden. 

At night you should head up to Pueblito Paisa, which is a viewpoint located on the Nutibara hill. This place is a reenactment village in the style of a traditional Antioquian town. The place is complete with colorful buildings where you can enjoy local food and buy some handicrafts.

Day Three

Today it’s time to take a tour of the urban art gallery in the streets of Medellin: Comuna 13. You can visit on your own, or you can take day tours there by bus or foot.

Comuna 13 is a once derelict part of town that’s been transformed by colorful murals. Today, it’s one of the most-visited parts of the city.

Itinerary for Nature Lovers

If you want to get out of the city and explore the surrounding hills and towns, that’s an option too. This three-day itinerary gives you a jumping-off point for planning your trip!

Day One

Your first day in Medellin is the perfect opportunity to explore Parque Arvi. There you can enjoy walks, local food, handicrafts, and animal sightings. 

What’s cool about the park is that to get there you’ll need to take the Metro Cable. This is a cable car system that takes you up into the hills of Medellin. It’s quite a ride!

Just exploring the park can take an entire day, so go early and plan to be back around dinner time.

Day Two

Your second day is the perfect time to head out to Santa Fe de Antioquia. This is a colonial village that is part of the Colombian heritage and preserves the architecture of days gone by.

Ten minutes from this town, you’ll find the Puente de Occidente, a suspension bridge and national monument that crosses the Cauca River and measures almost 300 meters. 

You can cross by car, on foot or by moto-taxi, a very common means of transport in Colombian towns.

The experience is a great way to get out of the city and see a more authentic side of Colombia.

Day Three

Guatape is one of the jewels of Antioquia. It’s located to the east of Medellin, approximately an hour and a half away.

From this town, you can see the Piedra del Peñol, a huge monolith that overlooks a beautiful lake. You can even climb to the top of it for sweeping views of the lake!

In Guatape you can also enjoy tons of water activities, including boating, swimming fishing, zip-lines, and just walking around town.

Key Times to Visit Medellin

Although the locals will welcome you with open arms at any time of year, there are two times of the year when you’ll really get a unique experience:

1. La Feria de las Flores, literally the Flower Fair, is held at the end of July and the beginning of August each year.
2. Colombiamoda, held in mid-July each year.

Each of these events takes place for about a week, and are cultural festivals that are honestly a once in a lifetime experience.

Visit Medellin, and Take Your Time!

Medellin is so beautiful that it’s actually known as the second capital of Colombia, after Bogota! Take your time to go on an unforgettable trip in Medellin and its surroundings. Enjoy its culture, music, food, its friendly people, and the most beautiful landscapes!

And, if you’ve already visited the city, how long did you stay? Let us know in the comments how many days you stayed and what your ideal itinerary in the city was!

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Investing in real estate is always a winning idea, whether you’re looking to live there or just use it as a rental property. 

But when you think about buying a house or apartment in another country many things might be a bit confusing. The laws, contracts, and purchasing process can all vary greatly. Many times, they’re different from those in your home country.

One great place to invest in rental property is in Medellin. This up-and-coming city is full of business opportunities and is home to tons of movers and shakers.

If you’re interested in buying an apartment in Medellin, keep reading for a quick how-to.

Steps for Buying an Apartment in Medellin

Buying property in Medellin is exciting. However, it can also be confusing. 

Here are a couple of quick steps that you’ll need to take in order to buy property in Medellin.

1. Decide Why and for What You Want to Buy an Apartment in This City.

Before jumping into buying an apartment in Medellin, you need to think about why you want to buy in the area. You also need to think about what you’re looking for. 

There are tons of different types of properties in the city, ranging from houses and apartments to hotels and farms!

Consider what your purpose in buying property is. That way, you’ll have a good idea of which type of place you should be investing in.

2. Look at the Location

This point applies not just to Medellin, but to buying property anywhere in the world. You need to find a location that is central, safe, and has good amenities.

In Medellin, there are dozens of neighborhoods, each of which varies quite a bit. Plus, each neighborhood has different types of apartments available. 

Pay attention to things such as walkability, crime rate, and proximity to malls and personal services. Ultimately, this will determine the value of the home. 

3. Think About How You’ll Finance the Property

It’s not just the property itself you need to think about. You also need to be aware of how you’ll pay for the apartment. 

Some properties will allow you to purchase using a foreign bank account. Other agents will require you to have a Colombian bank account.

Alianza Valores is a leading banking resource in the investment market. This company is very familiar with foreign investments to buy real estate in Medellin. If you’re unsure of how to purchase property, this might be a good place to start.

4. Negotiate the Price

After you’ve found a place and have figured out the finances, it’s time to start the negotiation process.

Make your lawyer and agent part of your negotiation. Plan a sales contract that works for you and get in-depth advice on what you need to close the deal.

Our pro tip is to work with a lawyer or advisor who’s familiar with the foreign investment space. They can help make sure you get a good deal and that the process is handled correctly.

5. Sign a Purchase Agreement

After verbal negotiations, everything has to be written out. This helps finalize the legality of the process.

In Colombia, until the agreements are signed, they don’t exist, even if they have been said a thousand times. This is completely opposite to US law, in which verbal agreements can serve as legally binding contracts. 

As such, when you go to legalize your sale agreement or promise of sale, there are some things to keep in mind. Here are a few key items to be aware of.

What’s Included in the Price

Some property is delivered as an unfinished project. Others are delivered as fully furnished apartments. Make sure to be aware of what your final agreement includes.

The Downpayment

You can negotiate an initial downpayment with the seller. Sometimes they ask for 10%, 20%, or even 30% of the total investment as a downpayment. You can often make your downpayment in installments instead of paying it all at once.

Criminal Clauses

A criminal clause indicates that the buyer and the seller follow to the letter what they agreed to in the promise of sale. Make sure that you read this carefully before signing anything.

Declared Commercial Value

Before you buy, demand the full value of the deed to avoid paperwork or legal hassles further down the line. Consult with your real estate agent and your lawyer.

Mortgages and Bank Loans

Make sure that you’re aware of any outstanding mortgages or loans on the property. You may need to negotiate this with the seller or with the bank itself.

Taxes and Rent

The payment of taxes must be transferred to the new owner at the date of the contract. Likewise, if the property being purchased is generating rental income, this must also be transferred to the new owner. Make sure to verify that this happens correctly.

6. Deed registration and other final procedures

After signing, update the “Certificate of Tradition and Freedom”, which you can get online. This certificate shows that you are the original owner of the property. 

This is the last piece of the puzzle when purchasing property in Medellin. If you’re struggling, you can always loop in a lawyer to assist with this step.

Common Documentation Requested for Foreign Investors

Before you’ll be able to purchase property, you’ll need to have a few documents on hand. A few of the common pieces of documentation requested for foreigners includes: 

• A copy of your passport or identity document
• A photo ID
• Copy of a document evidencing the name and address of the property you’ll be purchasing
• Documentation that supports economic activity and sufficient funds for the purchase
• Documentation showing your ability to travel to Colombia at the time of the deed to carry out the signature.

Sellers can request other paperwork, too. Make sure that you have everything on hand before you buy to avoid any problems during the process. 

Buy Your Property in Medellin

Although it can be confusing at first glance, navigating the world of property investments in Medellin really isn’t all that bad.

With the right preparation and documentation, you can purchase a new home or rental property in the City of Eternal Spring. 

Do you own property in Medellin? Let us know what you think in the comments and how the process went for you!

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While many visitors to Medellin are digital nomads and individuals looking to invest or start businesses, those aren’t the only visitors who come here. 

In fact, many people who visit the city are also just looking to relax and unwind. If that’s the case and you want a serious vacation, you should really check out the most expensive hotel in Medellin. 

This place is where luxury and comfort meet convenience, and it’s not a spot to be missed. Here’s the ultimate guide to the most expensive hotel in Medellin, Colombia.

Meet the Marquee: The Most Expensive Hotel in Medellin

Okay, the cat’s out of the bag. The Marquee Hotel is easily the most expensive hotel in Medellin, and for good reason. 

This luxury boutique hotel is elegant and painstakingly designed with touches of gold throughout.

No really, there are gold accents everywhere that will make you feel like you’re in Versaille, rather than a hotel in Colombia. 

Let’s take a closer look at what you need to know about The Marquee and how you can have an incredible stay there. 

The Location

Let’s start by talking about where the hotel is located. 

The Marquee is situated in the heart of Parque Lleras, a trendy sub-neighborhood in the huge El Poblado district. 

Parque Lleras is popular thanks to the abundance of restaurants and shopping opportunities. 

Plus, the area has some of Poblado’s best nightlife, which is why it’s become a hotspot for tourists.

In terms of getting to the hotel, you can call the reception team and they’ll assist you with airport transportation services. That way, you don’t have to worry about squeezing into public transport or overpaying for a taxi. 

The Amenities

As soon as you walk into The Marquee you’ll notice that this place is special. The hotel was designed by some of the city’s best architects and designers, and it shows. 

Not only is the lobby super classy, but the Marquee features a gorgeous rooftop with 360º views of the city. There’s a pool, a jacuzzi, and a fantastic bar. 

Even those who don’t stay at the hotel often come to the rooftop bar to party and have a good time after the sun goes down.

The Restaurant

The Marquee has a restaurant in the lobby, Abbiocco by Carmen. Despite being an Italian place, the restaurant actually features ingredients that are all locally sourced. 

What’s more, the restaurant is extremely socially and environmentally responsible. They use responsible fishing in the hands of Colombian coastal communities to help support the local economy and preserve fish habitats. 

They’ve got some excellent tasting menus as well as great a la carte options. No matter what you choose, you’re pretty much guaranteed to get something good. 

About the Rooms at the Marquee

The real luxury at The Marquee is found int he rooms. The Marquee has 40 rooms divided into four categories. The hotel also features two luxury penthouses.

The rooms you can book include: 

• King suite: a spacious room with a king-size bed.

• Deluxe room: features two king-sized beds.

• Corner king suite: a room with panoramic views of almost the entire city and a king-size bed.
• Jacuzzi king suite: a room with a king-size bed and a jacuzzi that offers views from the signature circular windows in the hotel.

All the rooms and penthouses have AC, a filtered water dispenser, a smart TV, a workstation, high-speed Wi-Fi, and a mini bar.

Gold-plated furniture, wood paneling, marble tiles in the bathrooms, and automatic blackout curtains are other cool features you’ll find in your room.

The bathrooms include everything you need so you don’t have to bring anything with you, including toiletries, towels, slippers, and bathrobes. 

And, one more thing: all the rooms include a projector and drop-down screen with access to all your favorite channels and streaming services. That’s something you don’t see too often!

The Penthouses

The Marquee has two luxury penthouses where you can enjoy a complete panoramic view of Medellin and the lush mountains that surround the city.

Both have a living room, and dining room, as well as a sink with glassware, and a small refrigerator that allows guests to cook whatever they like.

The penthouses are surrounded by the best of the Antioquian vegetation, which makes the place even more relaxing. And of course, both the penthouses feature a jacuzzi for you to relax and unwind in.

The difference between the two luxury penthouses is that one has one bedroom and the other has two bedrooms, each with a private bathroom attached.

Staying in one of these Penthouses costs around $500 USD per night. Considering everything you get, that’s honestly a steal.

Things to Know Before You Book

If you’re thinking of booking a stay at The Marquee, there are a couple of things you’ll need to keep in mind. 

For one thing, you should really make your reservation weeks (or even months) in advance because the rooms sell out very quickly. The penthouses get booked out as much as six months in advance!

In fact, the rooms are so popular that reggaeton star JBalvin partnered with Nicky Jam to record the song Poblado in one of the penthouses. 

Live the Experience in the Most Expensive Hotel in Medellin, Colombia

A stay at The Marquee isn’t one that you’ll forget any time soon. It’s got tons of amenities and has all the creature comforts you need to feel like you’re a high-flying Kardashina. 

Have you already stayed here? Share your experience with us in the comments and let us know what you think!

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