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Top 5 best places to invest in Medellin this 2024
Best Zones to Invest in Medellin This 2024
If you’re here, it’s probably because you’ve already heard about the profitability of investing in Medellin, especially in the real estate market. Medellin is increasingly recognized globally as a center of innovation, tourism, development, and above all, a business hub. If you’ve read about the real estate market in Medellin, let me tell you that this post is different. We won’t repeat what every other blog and real estate agency says: “Invest in El Poblado!” While we can’t deny that El Poblado is one of the best areas of Medellin to live, boasting the best restaurants, housing, and the cleanest air in the city (it’s where our office is located), we must also inform you that, as good as it is, it’s also expensive. The entry price in this sector is not at all friendly. The short-term renting market by foreign investors has caused prices to skyrocket. Today, we bring you the Top 5 best places to invest in Medellin this 2024, an exclusive list of areas in Medellin with the highest potential for appreciation:
1. Perpetuo Socorro
Though it might still seem like an industrial area filled with old workshops and production factories, the Perpetuo Socorro District is emerging as the Wynwood of Colombia. For those unfamiliar, Wynwood is a neighborhood in Miami that transformed from an unsafe, industrial, and unsightly area into a creative district now considered one of the coolest neighborhoods in the United States. In recent years, significant private sector players have gradually turned this industrial sector into a creative district. Today, you can find restaurants, cafes, and aesthetic places that attract a young, trend-following public, making it a perfect place to invest. While it might not be suitable for low-budget investments, as properties here are large spaces designed for storage and assembly of industrial businesses, with sufficient capital, you could afford to refurbish one of these old factories into a modern venue for gastronomic tourism, entertainment, or lodging.
2. La América: The Authentic Medellin
Adjacent to the famous Laureles neighborhood, La América often goes unnoticed because it is a truly authentic part of Medellin. Removed from tourism and large chains, it is mostly flat (a rarity in a city of hills), where you can still breathe local air, find local prices, and experience Paisa life. For many real estate experts, La América is one of the areas with the highest potential in the city, considering its expansion dynamics. With old houses of generous sizes, close to the famous Comuna 13, the main Stadium of the City, Laureles, and the Downtown, it has become the new target for long-term investors who see in this sector the possibility to develop shared economy projects, building construction, and hospitality businesses like hostels and hotels. The current major attraction of La América is its comparative prices with other neighborhoods in the city.
3. Envigado: The Emerging Gem
Envigado, while technically a separate municipality, lies directly next to Medellin, offering an intriguing advantage for investors. One of the key benefits of investing in Envigado over Medellin is the typically lower tax rates, coupled with a local administration known for its efficiency and organization. Practically speaking, Envigado is just a step away from El Poblado, making it hard to distinguish between the two in many areas. This proximity means investors can enjoy the benefits of Poblado’s allure while taking advantage of Envigado’s more favorable fiscal and administrative conditions. This blend of advantages makes Envigado an attractive investment opportunity for those looking to benefit from close proximity to Medellin’s most prestigious neighborhood while enjoying the unique charms and lower costs of Envigado.
4. Santa Helena: The Green Investment
Santa Helena, recognized for its lush, green landscapes, is not just a haven for those seeking tranquility outside the urban sprawl; it’s also a prime spot for agricultural business ventures, serving as Medellin’s food pantry. The area is experiencing a surge in businesses centered around yoga, spirituality, boutique hostels, and Swiss-style villa hotels, catering to a growing demand for wellness and eco-tourism. Despite being a corregimiento, which in Colombia means a neighborhood with a degree of administrative autonomy, Santa Helena boasts excellent connectivity to Medellin and the Rionegro International Airport, the main airport serving the city. This makes it an ideal location for investors looking to capitalize on agricultural, hospitality, and tourism businesses, offering a serene environment that’s still conveniently linked to the urban and international access points.
5. Laureles: The Planned Perfection
Laureles stands out as Medellin’s only planned neighborhood, contrasting with the city’s historically haphazard growth towards its hillsides. Inspired by the expansive districts of Barcelona, Laureles replicates this style, featuring some of the oldest and most beautiful tree species in the city. The neighborhood offers a perfect balance between the local Medellin vibe and a bustling scene of commerce and entertainment. This unique blend of planned urbanism, natural beauty, and vibrant local culture makes Laureles an exceptional choice for investors. It offers the tranquility of a well-organized neighborhood with the dynamic pulse of city life, positioning it as an ideal investment for those seeking a harmonious blend of business opportunities and quality of life.
Where to invest in Medellin 2024?
The diverse landscapes of Medellin and its neighboring areas present a wealth of investment opportunities for 2024. From the creative renaissance of Perpetuo Socorro to the authentic charm of La América, the strategic advantages of Envigado, the green investments in Santa Helena, and the planned perfection of Laureles, each area offers unique benefits for real estate investment. Whether you’re looking to invest in the bustling city life or the tranquil retreats on the outskirts, Medellin’s real estate market caters to a broad spectrum of interests and investment strategies. By exploring these emerging neighborhoods with high growth potential, investors can tap into the vibrant future of one of Latin America’s most dynamic cities.
