More and more Colombians and foreigners are choosing the capital of Antioquia as an investment opportunity, showing a strong preference for Medellín as a place to live.
Fincaraíz, in partnership with the company Finco, conducted a study on the city of Medellín to determine which areas were the most appreciated and profitable during the first quarter of 2022 in the housing sector.
The figures from this analysis position the city as one of the most attractive areas for real estate investment. This is also due to its rapid development, the wide variety of properties available on the market, and the city’s investment in innovation, science, and technology.
According to the initial analysis to identify which neighborhoods had the most rental housing in Medellín, it was found that 75% of the properties were in socioeconomic strata 4 to 6. Apartments for rent in El Poblado accounted for 14.9%, and apartments for rent in Laureles for 10.4%, making them the most offered areas.
Higher-income strata in the city have the largest number of rental properties. Stratum 4 has an offer of more than 5,900 housing units. In stratum 6, apartments for rent in Envigado are the most offered; in stratum 5, houses for rent in El Poblado; and in stratum 3, studio apartments for rent in Sabaneta. It is important to clarify that these figures correspond to all areas of the city of Medellín, not only the ones mentioned above.
This study also analyzed the cost per square meter of housing in Medellín. The average price per square meter for apartments ranges between COP $2.2 million and COP $5.7 million; however, prices can exceed COP $7 million in the Las Palmas area.
The average price per square meter for houses can reach up to COP $5.2 million; however, in areas near Alto El Chagualo and the Las Palmas bypass, prices can exceed COP $9 million.
On the other hand, appreciation rates are very encouraging in some areas of the city. The average appreciation was 6.8%; however, this figure is not uniform across the city, as some areas experienced increases of up to 10%. For example, El Poblado and Guayabal recorded an appreciation of 12%.
The average profitability in the city of Medellín was 1.56%, taking into account the price per square meter, socioeconomic stratum, area, property type, and type of offer. El Poblado showed a profitability of 1.9%, while San Rafael, Envigado reached 1.4%.
These real estate market analyses reaffirm that investing in real estate is an excellent opportunity. This is one of the few sectors that can offer a secure investment with low risk, generate profitability if you decide to rent out your property, and provide spaces that fit your interests and budget. At Alberto Álvarez Real Estate, you will find an ally to rent, sell, or buy your property.