Colombia is internationally recognized for being a blessed country for its qualities with its breathtaking mountains, extensive beaches, stunning oceans and diversity of flora and fauna. Recently Colombia has attracted the interest of international investors: investing in industries such as agriculture, textiles, oil, etc. This has made Colombia an attractive economy for the rest of the world. Due to the stability of its economy, property in Colombia is increasingly gaining positive reputation and it is keeping a steady value in comparison to Colombia´s neighbouring countries and European economies.
Colombia has a dynamic domestic market, having the 23rd largest population in the world and being the second most populous Spanish-speaking country. Furthermore, Colombia is the third most business-friendly country and the leading reforming country in Latin America according to the World Bank’s ‘Doing Business 2013.’
Colombia, like any other emerging economy, is facing an increasingly competitive international economic environment. Taxes in Colombia apply to all property owners with the same tariff. These taxes depend on your total income earned in Colombia and are paid annually.
More specifically, Santiago de Cali is the third largest city in Colombia and the capital of the department of Valle del Cauca. Cali is located in the south west of Colombia, 120 km (75 miles) east of Buenaventura, the largest harbour in the Colombian Pacific. Cali is popularly known for being the world capital of Salsa dance and its active cultural scene.
Property in Santiago de Cali has doubled in value over the last ten years and its value continues to rise. In comparison to the value of property in Bogota or Medellin the prices in Cali are lower and therefore more accessible for investors with high value currencies.
If you are looking to invest in Colombia for a holiday home or as an investment to provide you with a safe return, D&L estate agency and legal advisors can provide you with professional advice in English to help you; from looking for a property, to closing a deal and being your representatives in Cali; paying in your money into your local bank account backed up by an insurance company.
As for all property rental, the benefits for a buy-to-let landlord can include a stable income from rental receipts, as well as an accumulation of wealth if house prices go up over time. Rising house prices in Colombia has made buy-to-let a popular way to invest. Compared with the value of foreign currencies the Colombian Peso (COP) maintains a lower yet stable value for those investing from abroad.
If you are interested in investing in property in Colombia, please fill in the form below and an English-speaking advisor will contact you promptly.