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Real Estate in Colombia | Expat Exchange
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Plaza de Bolivar in Bogota

Real Estate in Colombia

By Betsy Burlingame

Last updated on Oct 13, 2023

Summary: An expat should search for a home to buy in Colombia by researching the different neighborhoods and cities in the country. It is important to consider the safety of the area, the cost of living, and the availability of amenities. Expats should also consider the local culture and language when selecting a home. Homes in Colombia typically include basic amenities such as running water, electricity, and internet access. Many homes also have air conditioning, a kitchen, and a balcony or terrace. Foreigners are allowed to own property in Colombia, but there are certain restrictions. For example, foreigners are not allowed to own land within 50 kilometers of the coast or 100 kilometers of the border. Additionally, foreigners must obtain a visa before they can purchase property in Colombia.

Colombian Visa Services
Colombian Visa Services
Colombian Visa Services
Colombian Visa Services

How do I find a place to live in Colombia?

We asked expats how they chose their neighborhood and found a place to live. They answered:

"Along with the points noted above, I think one of the most important aspects of finding a place here in Pereira is knowing where, what barrio you want to hang your hat. Pricing is going to be determined much on that. Pineras is more expensive than Cuba and so forth. But the quality of life is affected by such. Not any different than most everywhere else, bad neighborhoods cost less and vice versa," explained one expat living in Pereira, Colombia.

"Traveling through Colombia i stumbled upon a town called Guatape 1 hour from Medellin," said one person in Guatape.

"If you are considering moving to Colombia, there are many options available to you. A great place to start your search is by consulting local real estate agencies and newspapers. You can also take advantage of the wide range of online platforms that allow users to search for potential homes and apartments in different neighborhoods. It is also important to look into the prevailing rental prices in the area to get an idea of your budget. Once you have narrowed your search, it is recommended to investigate the local safety records and amenities available in the area. Doing research into the local culture could also prove helpful in deciding the most suitable neighborhood for you," said one expat who made the move to Colombia.

"Several American friends live in the Cartago-Cerrito-Alcala-Quindio areas. Just outside Cartago is a paradise. The Cerritos or Quindio areas i think is one of the best places in the world to have a good life. A little bit expensive but you can have great choices from $100k to $300k. Several acres, swimming pool, everything you did not have in the USA. or if you want you can buy a house in El Prado neighborhood for $70k. Fantastic," explained one foreigner living in Cartago, Colombia.

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We have over 10 years of experience helping foreigners obtain visas, invest, and do business in Colombia. Take the stress out of immigrating to Colombia by working with an experienced, bilingual immigration attorney.

Click connect to have our partner contact you via e-mail and/or phone.

Colombian Visa ServicesColombian Visa Services

We have over 10 years of experience helping foreigners obtain visas, invest, and do business in Colombia. Take the stress out of immigrating to Colombia by working with an experienced, bilingual immigration attorney.
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Click connect to have our partner contact you via e-mail and/or phone.

What is a typical expat home or apartment like in Colombia?

"Anything you want. You can start at $40K to $300k. Nice neighborhoods around $70k and very luxurious country homes with swimming pools , air, cable, 5000', barbeque areas, security, etc. They are like fancy homes in a country club," remarked one member in Cartago.

"Expat homes and apartments in Colombia are typically modern, spacious and feature sleek contemporary designs. Most apartments come with amenities such as air-conditioning, fast Wi-Fi, washing machines and well-equipped kitchens. Common features include balconies, terraces or outdoor areas, allowing for those living in these apartments to get a taste of outdoor living. As cities become more cosmopolitan, developers have created several family-friendly buildings to cater to the demands of expat families, with large communal areas and modern security measures," explained one expat living in Colombia.

Colombian Visa Services

We have over 10 years of experience helping foreigners obtain visas, invest, and do business in Colombia. Take the stress out of immigrating to Colombia by working with an experienced, bilingual immigration attorney.

Learn MoreConnect

Click connect to have our partner contact you via e-mail and/or phone.

Colombian Visa Services

We have over 10 years of experience helping foreigners obtain visas, invest, and do business in Colombia. Take the stress out of immigrating to Colombia by working with an experienced, bilingual immigration attorney.

Learn MoreConnect

Click connect to have our partner contact you via e-mail and/or phone.

What is the average cost of housing in Colombia?

If you are thinking about moving to Colombia, cost of living in probably a key consideration. Expats commented about the cost of housing:

"I lived in Roldanillo in the north of the Valle del Cauca for a year in a secure conjunto. The house was less than 5 years old, with 2 stories, 2 bedrooms, a study, and a bathroom upstairs; Kitchen, dining/living room, half-bath, and laundry area, downstairs. In front was a parking space, partly covered, for one car. The conjunto has 24/7 security, a swimming pool, hot tub, and playground, and is located just outside of the edge of town, about a kilometer from the city center. So, the cost was 500,000 per month, including the administration fee. At today's exchange rate of 4562.8 pesos per dollar, the cost is US$109.58. And, Roldanillo is a very nice little town of around 35,000 and had been mentioned in the news some years back as being one of the safest towns in Colombia. If I decide to return to and live in Colombia the only place I would live is in Rolda (I lived in eight different towns/cities in 9+ years in Colombia)," remarked one member in Colombia.

"The average cost of housing in Colombia generally varies in price depending on the location and size of the property. Generally, prices for housing in the major cities such as Bogota, Medellin, and Cali tend to be higher than in smaller cities and rural areas. On average, a studio apartment in a major city can range in cost from approximately US$150 to US$500 per month," explained one expat living in Colombia.

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Should I buy or rent a home in Colombia?

If you have not spent a lot of time in Colombia, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:

"We are currently renting, but when I get there permanently next year, we will be buying. We actually were able to sign up for a government plan through a local bank. We make monthly deposits & in a year, they'll offer us our mortgage," explained one expat living in Cali, Colombia.

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What do I need to know when buying property in Colombia?

When we asked expats what advice they would give a foreigner before buying a property in Colombia, they said:

"1. It is important to check a property’s official title to ensure that it is legally owned. 2. It is recommended to get an independent lawyer to review any contracts and agreements related to the purchase of property. 3. Local laws require a notary public to draw up any contract related to the purchase of real estate. 4. Buyers are required to pay taxes on the purchase of property in Colombia. 5. Depending on the location of the property, there may be additional taxes on purchases. 6. Be prepared to provide documentation of your identity and source of funds when purchasing property. 7. Property transfer registrations and payments can take anywhere from a few weeks to several months to complete," said one in Colombia.

Are foreigners allowed to own property in Colombia?

When we asked expats what advice they would give a foreigner before buying a property in Colombia, they said...

"Yes, foreigners are allowed to own property in Colombia. The Colombian government has established a legal framework that allows foreign citizens to purchase and own real estate in the country. Foreigners can purchase property in their own name, or through a Colombian corporation. In order to purchase property, foreigners must obtain a visa and register with the Colombian government. Additionally, foreign citizens must open a bank account in Colombia and obtain a tax identification number," explained one person living in Colombia.

What appliances are typically included in a rental?

We asked foreigners in Colombia what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:

"Rental properties in Colombia typically come with essential household appliances such as a refrigerator, stove and oven, washing machine and dryer, and hot water heater. They may also include common home furnishings such as a sofa, beds, dining table and chairs, and sometimes basic electronics and kitchenware. Some higher-end rentals may also include air-conditioning units or a dishwasher," said one in Colombia.

Additional Information about Searching for a Home in Colombia:

We asked foreigners in Colombia what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...

"Expats can search for homes in Colombia by looking online for real estate websites that specialize in the Colombian market, such as Lamudi, VivaReal, and FincaRaiz. They can also search for local real estate agents who can help them find the perfect home. Additionally, expats can look for online forums and social media groups dedicated to expats living in Colombia, as these can be a great source of information and advice on finding a home," explained one person living in Colombia.

About the Author

Betsy Burlingame Betsy Burlingame is the Founder and President of Expat Exchange and is one of the Founders of Digital Nomad Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.

Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.

Plaza de Bolivar in Bogota

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