Cartagena remains one of the best places to buy real estate in Colombia. Prices on Cartagena, Colombia real estate are rising and are expected to climb over the next several years.
Cartagena offers one of the best places in Colombia for vacationing, retiring or owning investment property. Located on the north shore of Colombia, Cartagena is home to some of Colombia's most beautiful beaches.
There are lots of beachfront condominiums available in Cartagena. Owning one of these beachfront condos is one of the best ways to have Cartagena, Colombia real estate as an investment, since tourists flock to these condos for vacation rental. If you want to spend part of your time living in Colombia, and be able to make money off your investment, too, then one of these easily rented properties is a great investment.
You'll need a licensed real estate agent to help you navigate through the ins and outs of making a real estate purchase in Colombia. While the real estate laws are quite favorable to foreign investors, the process can still be quite laborious, especially if you don't speak the language. You may also find sellers to be somewhat secretive in terms of revealing information about their property. It is in these items, in particular, that a real estate agent can really help.
Though real estate in Cartagena, Colombia is on the rise in terms of value, Americans will still find it to be far less expensive than owning vacation property in their own country. For example, beachfront property in Cartagena can be as much as 40% less than owning similar real estate in Florida, on a square footage basis. You'll also find that real estate commissions are lower than in the US. There are plenty of real estate listings in Cartagena, Colombia to choose from right now, too.
If you want to get the most financial value for your real estate in Cartagena, Colombia, talk with your tax accountant before you begin your property search. There are many steps you can take to help minimize expenses or help ensure that they are tax deductible. For example, contacting a real estate agent in Cartagena via email before you come to the city is an important step in ensuring that your expenses can be tax deductible as a business expense.
It pays to talk with a mortgage broker before you leave the US, too. You'll likely find that your best deal on a mortgage is still to be found in the US, since rates are at an all time low. When purchasing real estate in Cartagena, or anywhere in Colombia, you'll find that the law allows for paying in cash with foreign currency, making in kind exchanges and for paying in foreign currency that has been converted to local currency. Most foreign investors pay with their home currency.
Cartagena, Colombia real estate is a heck of a deal, but it's very likely that those great deals on real estate in Cartagena, Colombia will be few and far between in the next few years. So, if you're in the market for a great place on the beach in Cartagena, the time to buy is now.
Taylor White is an international real estate investor and leading the charge at International Real Estate Listings the worldwide leader in Cartagena, Colombia real estate for sale , Cartagena, Colombia real estate exchanges, and Cartagena, Colombia rentals . Cartagena, Colombia real estate owners, agents, and developers are encouraged to create an account, upload an unlimited number of listings, write as much creative property details, include a You Tube property video, and it will be activated as a basic listing for 6 months, free.