Thread: Buying Property in Colombia
+
Add Report
Results 196 to 210 of 327
-
12-27-07 02:59 #132
Posts: 23Cost per square meter
Tom33,
My apologies. I can't seem to get cost per square foot (psf) out of my head.
Here is another deal I found in San Lucas. It was a 5 year old, 2 story, penthouse unit with 3 bedrooms, 2.5 bath, 2 parking spaces. 2 nice sized balconies, a nice sized walk in closet in the master - great views, open floor plan, etc. The unit needed no repair work and really not much upgrading either. I believe the admin fees were about $350,000 per month.
150 m2 or 1614.6 sf
$288,000,000(at the time the exchange rate was 2050) div 150 = $1,920,000 m2
$140,488 USD div 1614.6 = $87 psf
I thought this was a pretty good deal based on the fact most everything else is saw in the area was closer to $115 psf (new or up to 1 year old).
* So, I assume any property that could be found in Poblado for 1 million per m2 would need extensive upgrading or rehab work?
* I have seen some nice property (house) in Belen Rosales for 1 million per m2.
-
12-27-07 02:29 #131
Posts: 17Its coming and I don't mean sexual!
One only has to look at a few neighboring countries including Costa Rica who have recently signed agreements with the US Government to share information with the IRS. Additionally, several countries have hired corporations in the good old USA to automate their tax collection process.
If your property taxes increase by 100%, 500%, or 3000% I guess You could handle and pay the increase but others might have difficulty.
Don’t fool yourself. If you purchase/sell property in Colombia you might not pay today but you will pay tomorrow in both taxes and capital gains.
Originally Posted by Tom 33
-
12-26-07 22:50 #130
Posts: 1694I must back Tom33 up here, I lived here for 4 years and I have never seen any civil war going on, yes alot of Military/Police check points around.
Ive also driven a far bit of the country many times, had no problems but those fucken holes in the roads have caused me a few.
Aussie Greg.
Originally Posted by Tom 33
-
12-26-07 22:41 #129
Posts: 1180Originally Posted by Sailor2006
-
12-26-07 22:38 #128
Posts: 1180Originally Posted by Medellin Rum
There are many exemptions from taxation of your worldwide income, and that generally doesn't apply until you have lived here for more than 5 years. AND Colombia seems to have trouble collecting from its own citizens who earn all their money in Colombia. Why do you suppose that the IVA(sales tax) is as high as it is? How is an extranjero supposed to understand Colombian income tax when DIAN does not?
-
12-26-07 22:26 #127
Posts: 1180Originally Posted by Texas Slim
-
12-25-07 20:04 #126
Posts: 80I spend about 50% of my time in Medellin and 25% in Cartagena. I try to get to Argentina for a couple of months each winter when it is warm there but this year is not looking great. I also plan to take a few side trips to Asia when time permits.
The fact is I can live anywhere in the world I want. I chose to live in Medellin because it is fun for now. If the fun stops I will move on. I have lived in other countries that got all fucked up. When that happens you pay a guy named Jose to live in your house, put a "for sale" sign on it, and tell Jose to call you when it is sold. It is really very easy.
There is still a lot of negativity about Medellin but it always seems to come from the NMGs. This has its advantage because it scares away the hoards of NMGs. I have lived in other places that got overrun by NMGs and when that happens I usually move on. Pattaya, Angeles City, Sosua all suck for me because almost everyone there is a NMG and I will not return to any of them.
-
12-25-07 18:29 #125
Posts: 23Good Advice Casa Medellin
I've been here in Medellin for almost two years and have looked at in excess of 60-70 properties all around town including Poblado, Envigado, Sabaneta, La Estrella, Itagui, Laurelles, Belen & El Centro (commercial). His advice is spot on.
* P.S.. I am not a patron or client of his establishment. I live in a rented apartment of 2 years in Poblado/Envigado. My background is 10 years of mortgage banking, residential & commercial real estate investments.
My mistake was not investing 2 years ago when the exchange rate was 2600 to 1. I have made the same mistake in the US a few times waiting.
By the way Casa Medellin, if you want to let me know where those investments at $200k per meter are in Poblado, please send me an email. I would be willing to pay you a fee for the right investment. I just missed out on a 750 meter fincacasa in Loma de Escobero (Envigado) for $450 million ($27 a square foot). I don't know what the hell I would do with all that space, but it does not matter now.
-
12-25-07 18:16 #124
Posts: 1694I guess every body looks for different things in life, as I have said, I´m happy here in Medellin but I also get away to to other places.
I carnt think or know of a better place with the quality of life for the price and the beauty/numbers of the women.
Investment in Colombia, every body said three years ago I was mad, I guess they still do !! some time I do to.
AG.
Originally Posted by Ricker
-
12-25-07 17:36 #123
Posts: 2874Originally Posted by mangera
i believe the guys that live in medellin are very fortunate. what a great city!
i'm too much of a vagabundo to stick in one place though :)
but i sure love to visit!!
feliz navidad!!
-
12-25-07 17:10 #122
Posts: 138Is everyone in?
The big questions I have is this: is EVERYONE in? I'm not talking about individuals who are buying a house or an apartment. I'm talking about developers and major speculators who are pouring in billions of dollars.
Medellin is experiencing a building boom. As of October, 2007, there were 145 high-rises under construction in Medellín, including 29 being approved, and 25 being proposed. That is more than NY, Philadelphia and Los Angeles combined.
Rumors are running around that Wal-mart plans to open a Super Wal Mart here. Pan America just opened it's first Medellin Location. The new Centro Comercial Premium Plaza just opened, two blocks away from San Diego, Oviedo is expanding across the street with a 5 story addition.
A French casino group is expanding it's investment in Exito/Pomona.
Yeah, I'd say the big boys are "in".
-
12-25-07 16:16 #121
Posts: 1081I am sure you are happy Greg.......I would be too......
Originally Posted by aussie greg
as much as i love medellin ( god knows i have had my share of fun there and will continue in the future), i hate to break it to you........there are also many other places around the globe that offer amazing women as well as incredible scenery. trust me, i have also done my fair share of travel as many other members of this forum.
by the way, lets not kid ourselves, even though some people here might consider colombia or medellin a great investment oppurtunity ( which it might be to a certain extent ), there are many other better and safer investments around the world.
i love medellin and its weather, women, and my paisa, calenos, and rolos friends. i can relate very well and feel extremely comfortable there. hopefully someday colombia will have the stability that will make many more investors take a peek and a gamble. but i doubt it, just too much corruption.
bottm line, its fine to make an investment in medellin, but don't even come close to putting all of your eggs in one basket.
greg, i am also happy in many other cities around the world just as you are happy in medellin. but i don't stick to just one particular dessert all the time, i enjoy a variation of them. continued success for you in medellin sir.
-
12-25-07 15:04 #120
Posts: 1694Aussie Greg.
I´m happy in Medellin !!
Aussie Greg.
Originally Posted by Mangera
-
12-25-07 12:15 #119
Posts: 1081"One election away"
Originally Posted by Fla Fun
-
12-25-07 09:38 #118
Posts: 1180The larger question lies with Colombia. Can she continue to stabilize? If the answer is yes, there is a lot of room for growth and price appreciation even in Cartagena.
There are too many variables to know the future of Colombia: FARC, paracos, narco-trafficing, lousy infrastructure, lousier laws, a total lack of respect for those lousier laws, and Tio Hugo. Add to that a populace that seems to accept waiting in bank lines for hours and near-total inefficiency in all things. The Colombian mind fuck is alive and well.