What comes to mind when Medellin, Columbia is mentioned? Thanks to the Netflix show "Narcos," the Medellin Cartel led by the notorious drug lord Pablo Escobar rings a bell. But that is only a part of Columbia's colorful history.
Medellin is actually known as Columbia's most progressive city with a cost of living that's very affordable, according to online site International Living. Moreover, it is also listed as one of the top three retirement sanctuaries with the lowest cost of living by the same online publication. So what makes Medellin attractive to retirees or tourists?
According to another article in International Living, this Columbian city meets all the expectations of those looking for a great city living experience from good weather, excellent healthcare, highly accessible public amenities all the way down to affordability. Moreover, the city is filled with a mix of European vibes and the famous Latin hospitality, which make the year-round spring-like weather even more enjoyable.
When it comes to owning a piece of Medellin, property values are outrageously attractive to overseas investors or homebuyers. For example, in Medellin's most desirable neighborhood, El Poblado, one can find a residence worth $130,000 that has access to amazing city views and other convenience or amusement destinations like parks, nightlife, restaurants, and shopping malls. It is a bargain that one cannot easily find in the U.S. markets. In the next town, Sabaneta, brand new condos with two bedrooms are very affordable at $90,000.
On the side note, one should first clearly check if owning a piece of Medellin's real estate is worth the money. Just like any form of investment or any other amazing real estate destination, one should first identify the real intention for such financial move, according to Columbia Reports. Is it for retirement or something you expect to get a high monthly return? If it is for retirement, Medellin is unquestionably a good choice. But if you are looking forward to getting returns from such investment or any other reasons, there are many other factors to consider.
