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3 thoughts on “9 Risks of Investing in Short-Term Rental Real Estate in Colombia”
Nice article, here is one apartment project to watch out for I saw posted on FB – https://www.springlivingmedellin.com/portfolio/nakua/
Promising unrealistic 10-12% net ROI (cash-flow) a year, and increase capital appreciation by 12-15% a year.
Jeff. Excellent article. I own an apartastudio in Laureles, Medellin that I rent out unfurnished long term. I have contemplated furnishing it and renting out on a monthly basis. Daily rentals would not be allowed in the building. Any thoughts about the viability of longer term furnished apartments? For foreigners on a longer term assignment or those interested in moving to Medellin but want to sample it first, there is very little available in the way of furnished rentals in Laureles. From my discussions with inmobilarias, however, they don’t seem to want to handle the management of furnished apartments, even long term. It appears they don’t want the hassle of maintaining the appliances. In that case I would probably have to manage the apartment myself. One other question, I was wondering if the used real estate sales rate drop you referred is broken down by neighborhood.
Actually there are many furnished rentals available in Laurele, look on Airbnb. Last year we surveyed pricing in 148 furnished rentals in Laureles – https://medellinguru.com/furnished-apartment-rental-costs/ and there are more available now.
Some foreigners do come looking for long term furnished apartment but this is now very competitive with many apartments and low occupancy.
We haven’t seen a breakdown of the used real estate sales drop by neighborhood.