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Real Estate in Cartagena, Colombia | Digital Nomad Exchange
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Cartagena, Colombia

Real Estate in Cartagena, Colombia

By Betsy Burlingame

Last updated on Oct 03, 2024

Summary: People living in Cartagena, Colombia offer advice about real estate. How do you find a home in Cartagena? Should you buy or rent? What is the cost of housing?

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How do I find a place to live in Cartagena?

We asked expats how they chose their neighborhood and found a place to live. They answered:

"Finding a place to live in Cartagena involves several steps. First, you need to determine your budget and the type of accommodation you're looking for. This could range from a small apartment to a larger house, depending on your needs and financial situation. Next, you should research the different neighborhoods in Cartagena to find one that suits your lifestyle and preferences. Some popular areas include the historic Old Town, the trendy Getsemani, and the upscale Bocagrande. Once you have a general idea of where you'd like to live, you can start searching for available properties. There are several online platforms that list rentals and properties for sale in Cartagena, such as fincaraiz.com.co, metrocuadrado.com, and compreoalquile.com. You can also consider hiring a local real estate agent to help you in your search. They can provide valuable insight into the local market, help negotiate prices, and guide you through the legal process of renting or buying a property in Colombia. When you find a property you're interested in, be sure to visit it in person before making any commitments. Check the condition of the property, the amenities, and the surrounding area to make sure it meets your expectations. Finally, once you've found the perfect place, you'll need to sign a lease or purchase agreement. Be sure to read the contract carefully and understand all the terms before signing. If you're not fluent in Spanish, you might want to hire a translator or lawyer to help you understand the contract. Remember, finding a place to live in a new city can take time, so be patient and don't rush the process. With careful planning and research, you'll be able to find a great place to live in Cartagena," explained one person living in Cartagena, Colombia.

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What is a typical expat home or apartment like in Cartagena?

"A typical expat home or apartment in Cartagena, is often located in the city's most popular neighborhoods, such as Bocagrande, El Laguito, or the historic walled city. These homes are usually modern and spacious, with a blend of traditional Colombian architecture and contemporary design. They often feature large windows or balconies that offer stunning views of the city or the Caribbean Sea. The interior of these homes is typically furnished with comfortable, high-quality furniture and equipped with modern appliances. Many expat homes also have air conditioning, a necessity in Cartagena's tropical climate. Some apartments may also offer amenities like a swimming pool, gym, or security services. Despite being in the city, it's common for these homes to be surrounded by lush greenery, providing a sense of tranquility and privacy. It's also common for expat homes to be within walking distance of local shops, restaurants, and cultural attractions, making it easy for residents to immerse themselves in the local culture and lifestyle. In terms of size, expat homes can range from compact, one-bedroom apartments perfect for single professionals, to larger, multi-bedroom homes suitable for families. Regardless of size, these homes are designed to provide a comfortable and luxurious living experience, with plenty of space for relaxation and entertaining guests. Overall, a typical expat home in Cartagena combines the comfort and convenience of modern living with the charm and beauty of Colombian culture and architecture," said one expat who made the move to Cartagena.

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What is the average cost of housing in Cartagena?

If you are thinking about moving to Cartagena, cost of living in probably a key consideration. Expats commented about the cost of housing:

"The average cost of housing in Cartagena can vary greatly depending on the location and type of property. For instance, in the city center, a one-bedroom apartment may cost around $500 to $700 per month, while a three-bedroom apartment can range from $800 to $1,200 per month. In the outskirts of the city, the prices can be significantly lower, with a one-bedroom apartment costing around $300 to $500 per month and a three-bedroom apartment ranging from $600 to $900 per month. If you're looking to buy property, the price per square meter in the city center can be around $2,000 to $3,000, while in the outskirts it can be around $1,000 to $2,000. However, these prices can fluctuate based on market conditions and other factors," said one person in Cartagena.

Should I buy or rent a home in Cartagena?

If you have not spent a lot of time in Cartagena, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:

"The decision to buy or rent a home in Cartagena, largely depends on your personal circumstances, financial situation, and long-term plans. If you plan to stay in Cartagena for a long period, buying a home could be a good investment. The city is a popular tourist destination, so you could potentially earn income by renting out your property when you're not using it. However, buying a home also comes with responsibilities and costs, such as maintenance, property taxes, and homeowners insurance. If you're not prepared to handle these expenses, or if you're unsure about your long-term plans, renting might be a better option. Renting offers more flexibility, as you can move more easily if your circumstances change. It's also worth considering the local real estate market. If property prices are high and continue to rise, buying a home could be a good investment. But if prices are low or falling, it might be better to rent and wait for the market to improve. Finally, consider your lifestyle and preferences. If you value stability and the freedom to customize your living space, buying a home could be the right choice. But if you prefer to avoid the hassle of home maintenance and enjoy the freedom to move around, renting might be more suitable. In conclusion, the decision to buy or rent a home in Cartagena, Colombia, should be based on a careful consideration of your financial situation, long-term plans, and personal preferences. It's always a good idea to consult with a real estate professional or financial advisor before making such a significant decision," remarked one member in Cartagena.

About the Author

Betsy Burlingame 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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