Need more information before you're ready to buy?

At Medellin Living, we only work 1 on 1 with buyers who are ready to make a purchase in the next 30 days. If you're not there yet, no worries – in the meantime you can find all the info about the process below.

Buying Real Estate in Colombia: The COMPLETE Masterclass

Medellín Real Estate Buying Guide

How to Buy Property in Medellín, Colombia – Step-by-Step

Looking to buy property in Medellín? Whether relocating, investing, or just exploring, this simple guide walks you through the process. We’ve helped hundreds of international clients buy safely and confidently in Medellín. Here’s how it works.

  1. Step 1: Be Ready with Your Funds

    Medellín is a cash market, which means most properties are purchased in full without financing. Local bank loans are nearly impossible for foreigners, so before starting your search, make sure your funds can be transferred within 30 to 60 days.

    Some clients used savings or home equity lines of credit from their home countries. Once your money’s ready, we can move forward.

  2. Step 2: Fill Out Our Buyer Form

    Start by filling out our form:

    https://www.medellinlivingrealestate.com/buy

    This helps us understand your budget, what kind of property you want, and which areas you’re interested in—like El Poblado, Laureles, or Envigado. We'll follow up via WhatsApp to get to know you better and ensure we’re a good fit.

  3. Step 3: Open a Colombian Brokerage Account

    You'll need a brokerage account to bring your money into Colombia and buy property legally. It allows you to:

    • Receive international wire transfers
    • Convert funds to Colombian pesos
    • Legalize the investment with the Colombian government

    We work with trusted brokers like Alianza. With your documents ready, the setup usually takes just a few days.

  4. Step 4: Get Your Property List

    Once we know what you’re looking for, we’ll send you a custom Google Sheet with Medellín real estate options. Our team handpicks these based on price, location, size, and other features that match your goals.

    We’ve helped clients like Doug, who wanted a quiet, modern apartment in El Poblado with long-term rental potential. On his second day of tours, he found exactly what he was looking for.

  5. Step 5: Review and Rank Properties

    Go through the list, mark the ones you like, and we’ll update your sheet. That way, when you get to Medellín, we’ll have your favorites ready for viewing.

  6. Step 6: Property Tours in Medellín

    Once you arrive, we’ll pick you up and tour your top properties. We’ll talk on-site about layout, location, rental potential, renovation needs, and more.

    If you’re considering short-term rentals, we’ll help you choose buildings that allow Airbnb or similar platforms.

  7. Step 7: Make an Offer

    When ready, we’ll help you create a written offer via WhatsApp. That includes:

    • The price you want to offer
    • The deposit amount (usually 10%)
    • The closing date

    We’ll negotiate with the seller or their agent and keep you updated.

  8. Step 8: Legal Review and Promesa Contract

    Our allied attorney will:

    • Run a full title check
    • Draft or review the promesa (purchase agreement)
    • Make sure everything is legal and secure

    You can sign the agreement digitally through DocuSign and wire the deposit from your brokerage account.

  9. Step 9: Close the Deal

    On closing day, you’ll go to a notary, sign the final deed (escritura), and pay the remaining balance. Then you get your keys.

    If you’re not in the country, your lawyer can sign for you with a power of attorney. The title will be registered in your name in a few weeks.

  10. Step 10: After You Buy

    We offer ongoing support after the sale. That includes:

    • Property management for long-term or Airbnb rentals
    • Interior design, furniture sourcing, and remodeling
    • Help with taxes, registration, and compliance

    We’ve helped clients turn their apartments into successful rentals that attract great guests and earn consistent income.

Why Work With Medellín Living Real Estate

We specialize in helping foreigners buy real estate in Medellín, Colombia. Our team combines local experience with international standards. We keep the process transparent and guide you every step of the way.

You'll get:

  • Clear communication in English
  • Trusted legal and financial partners
  • A team that’s walked this path ourselves
  • Ongoing help after the purchase

Whether you’re buying for lifestyle or investment, we’re here to help.

Ready to Get Started?

We’ll contact you within 24 hours via WhatsApp.

Fill out the form now!

Frequently Asked Questions

Q1. Do I need to be in Medellín to buy property?

Nope. You can buy from abroad. For example, Doug Michaels purchased a beautiful apartment in El Poblado without ever setting foot in it. We sent him video walkthroughs, handled the negotiations, and coordinated everything with his lawyer. By the time he flew in, the keys were waiting for him.

Q2. Can foreigners legally own property in Colombia?

Yes. Foreigners have the same property rights as Colombians. The apartment or house will be registered with the government in your name. Our clients are from the U.S., Canada, Europe, and Australia — no issues.

Q3. What’s the average price of an apartment in Medellín?

It depends on the neighborhood and the size of the unit. Here’s a general range:

  • In El Poblado, a modern 2-bedroom might go for $180,000–$300,000 USD
  • In Laureles, expect $150,000–$250,000 USD
  • In Envigado, newer units range from $130,000–$250,000 USD

We’ll help you compare price per square meter so you know exactly what you’re getting.

Q4. Do I need to speak Spanish to buy property?

Not really. Most professionals we work with — lawyers, notaries, and brokers — speak English. Our team is bilingual and we’ll guide you every step of the way. Still, learning a little Spanish will make life easier once you move here.

Q5. Can I rent out my apartment on Airbnb?

Some buildings allow it, others don’t. If you want short-term rentals, we’ll help you find Airbnb-friendly properties. For example, Wayne Allen bought a fully furnished apartment in El Poblado that was licensed for short-term rentals and started making income from day one.

Q6. How much are closing costs in Medellín?

Usually around 3% to 4% of the purchase price. That includes legal fees, notary costs, registration, and taxes.

Q7. Can I get a visa if I buy real estate in Medellín?

Yes, if your investment meets the minimum requirement. The investment visa starts at about 350 times the Colombian minimum wage — roughly $123,000 USD. Several of our clients have used their real estate purchases to get visas. If you're interested, we’ll connect you with a trusted immigration lawyer.