Medellin Real Estate: Urban Renewal, Apartments for Sale

Medellin real estate is enjoying a recent boom as the city undergoes a period of urban renewal, luxury development construction, and an apartment sales market on the rise.

This beautiful city in a mountain valley in western Colombia has the second largest population in the nation and is sometimes called “the city of eternal spring.” The “paisa” people are also known for their kind hospitality.

Despite a tumultuous past (Medellin was the home town of infamous drug trafficker Pablo Escobar), the city has become a much safer and more desirable place to live for many Colombians and their families. It offers the perfect mix of small town life, big city culture, and a temperate climate all year round. The municipal and national governments have invested greatly in ridding the city of corruption and crime, and now is the perfect time to invest in a city that will likely rival Bogota as one of the most livable cities in South America in only a matter of time.

The city’s economy is on a steady incline, opening doors for real estate investment and sales. Some of the best neighborhoods to live or invest in property are in El Poblado, Laureles and Envigado, but some real estate developers have begun constructing luxury apartment buildings in the city’s center.

Although property prices continue to increase, Medellin is still more affordable than many Colombian cities such as Bogota or Cartagena and would be a good choice for an investor who wants to watch the city grow and transform. The city currently is expanding even more rapidly than Bogota, with new construction at an all-time high.

As Medellin becomes a larger metropolis and cleans up its reputation, it has a high quality of life for the real estate investor looking for a mid-sized city with an exploding apartment market.