Real Estate in Cali, Colombia
Last updated on Dec 09, 2024
Summary: The average cost of a nice 2 bedroom home in Cali, Colombia is around $150,000 USD, while a nice 3 bedroom home can cost around $200,000 USD. These properties typically include modern amenities such as air conditioning, hot water, and a kitchen. Some may also include a balcony or terrace. Foreigners are allowed to purchase property in Cali, however, they must obtain a foreign investment certificate from the Colombian government. The best way for an expat to search for a home to buy in Cali is to use a real estate agent or search online. It is also important to research the area and the neighborhood before making a purchase. The most desirable neighborhoods in Cali are El Poblado, San Antonio, and Laureles. These areas are known for their safety, modern amenities, and close proximity to the city center.
How do I find a place to live in Cali?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"One way to find a place to live in Cali is to search online for rental listings. Websites such as Airbnb, HomeAway, and Vrbo offer a variety of rental options in the area. Additionally, you can search for local real estate agents who specialize in Cali rentals. They can provide you with more information about the area and help you find the perfect place to live. Additionally, you can ask friends and family who have lived in Cali for recommendations. They may be able to provide you with valuable insight into the area and help you find the perfect place to live," remarked one member in Cali.
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What is a typical expat home or apartment like in Cali?
"Expat homes and apartments in Cali are typically modern and comfortable, with plenty of natural light and airy spaces. Many expats choose to live in the city center, where they can enjoy the convenience of being close to shops, restaurants, and other amenities. Expat apartments often come with balconies or terraces, providing a great place to relax and take in the views of the city. Many expats also choose to live in gated communities, which offer additional security and amenities such as swimming pools, gyms, and playgrounds," said one person in Cali.
What is the average cost of housing in Cali?
If you are thinking about moving to Cali, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The cost of housing in Cali varies depending on the area and type of property. Generally, the average cost of a one-bedroom apartment in the city center is around $400 to $500 per month, while a three-bedroom apartment in the suburbs can cost around $600 to $800 per month. Prices for larger homes and luxury properties can be significantly higher," explained one person living in Cali, Colombia.
Should I buy or rent a home in Cali?
If you have not spent a lot of time in Cali, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"Buying a home in Cali can be a great investment, as the city is known for its vibrant culture and beautiful scenery. However, it is important to consider the cost of living in the area, as well as the availability of housing. Renting a home in Cali can be a great option for those who are not ready to commit to a long-term purchase, as it allows for more flexibility and can be more cost-effective in the short-term. Ultimately, the decision to buy or rent a home in Cali should be based on individual needs and preferences," explained one expat living in Cali, Colombia.
"We are currently renting, but when I get there permanently next year, we will be buying. We actually were able to sign up for a government plan through a local bank. We make monthly deposits & in a year, they'll offer us our mortgage," said one person in Cali.
What do I need to know when buying property in Cali?
When we asked expats what advice they would give a foreigner before buying a property in Cali, they said:
"When buying property in Cali, it is important to research the local market and familiarize yourself with the local laws and regulations. It is also important to hire a qualified lawyer to help you navigate the legal process and ensure that all documents are in order. Additionally, it is important to consider the location of the property and the surrounding area, as well as the condition of the property and any potential renovations that may be necessary. Finally, it is important to understand the costs associated with the purchase, including taxes, fees, and closing costs," said one person in Cali.
Are foreigners allowed to own property in Cali?
When we asked expats what advice they would give a foreigner before buying a property in Cali, they said...
"Yes, foreigners are allowed to own property in Cali. According to the Colombian Constitution, foreign citizens and companies are allowed to own real estate in Colombia, including in Cali. However, foreign citizens must obtain a visa in order to purchase property in Colombia. Additionally, foreign citizens must register the property with the Colombian government in order to obtain legal title to the property," explained one foreigner living in Cali, Colombia.
What appliances are typically included in a rental?
We asked foreigners in Cali what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:
"Rental properties in Cali typically include a refrigerator, stove, oven, washing machine, and dryer. Additionally, some properties may include air conditioning units, dishwashers, and microwaves," explained one person living in Cali, Colombia.
Additional Information about Searching for a Home in Cali:
We asked foreigners in Cali what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...
"Expats can search for homes in Cali by looking online for real estate listings, contacting local real estate agents, and asking other expats for recommendations. They can also search for rental listings on websites such as Airbnb and Craigslist, or look for classified ads in local newspapers. Additionally, expats can attend open houses and visit neighborhoods to get a better sense of the local housing market," explained one person living in Cali, Colombia.
About the Author
Betsy Burlingame is one of the founders of Digital Nomad Exchange and the Founder and President of Expat Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange and Digital Nomad Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.
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