Properties For Sale in Cartagena, Colombia 2025

Foreigners can purchase property in Cartagena with the same rights as Colombian nationals. The process involves obtaining a foreigner ID card (Cedula de Extranjería) for extended stays, and registering the property with the National Registry through a local notary. It is advisable to work with a real estate lawyer to navigate the contract specifics and tax obligations, which include a 1% registration tax and 3% notary fees based on the property value.

Cartagena's real estate market offers a mix of colonial charm and modern luxury, making it attractive to international investors. With 250 available properties, ranging from historic homes in the walled city to beachfront condos in Bocagrande, the market offers diverse investment opportunities. The city’s steady tourism growth, with over 4 million visitors in 2022, ensures a robust rental market, providing investors with lucrative rental yields.

Property prices in Cartagena vary significantly by neighborhood. In the historic center, prices average between $3,000 to $5,000 per square meter, reflecting high demand for its colonial architecture. Conversely, newer developments in Bocagrande range from $2,000 to $3,500 per square meter. Areas like Manga, known for residential tranquility, offer properties around $1,800 to $2,500 per square meter, appealing to those seeking quieter environments.

Cartagena offers a vibrant lifestyle with access to pristine beaches, cultural festivals, and historic sites. The city boasts a rich culinary scene with numerous international and local dining options. Modern amenities include shopping centers, high-end boutiques, and a variety of water sports activities. International schools and healthcare facilities with English-speaking staff ensure comfort for expatriates and their families.

While Colombia doesn’t offer specific tax incentives for property investors, Cartagena’s property tax rates are relatively low compared to international standards, ranging from 0.3% to 1% based on property value. Additionally, owning property can be a strategic investment due to rental income potential and appreciation in a popular tourist destination. Investors should consult a local tax advisor to fully understand any applicable deductions or liabilities.

Financing opportunities for foreigners in Cartagena are improving, with some local banks offering mortgage options to non-residents. However, these typically require a significant down payment, often 30% or more. It is essential to have a robust credit history and provide proof of income. Alternatively, many international buyers opt for cash purchases or secure financing through their home country due to more favorable terms.

Cartagena has a robust rental market, particularly for vacation properties, driven by its popularity as a tourist destination. With a consistent influx of tourists, the short-term rental market is particularly lucrative. During peak season, rental prices can see a significant increase, providing investors with high returns. However, potential investors should consider management options to address maintenance and guest needs effectively.

Maintaining a property in Cartagena involves several practical considerations, such as humidity and salt air, which can affect building materials. Regular maintenance is crucial to preserving the property’s condition. Many property owners employ management companies that offer maintenance services, tenant management, and security solutions. Additionally, investing in pest control and air conditioning systems will enhance property longevity and tenant comfort.

Cartagena's tropical climate, with an average temperature of 27°C (80°F), appeals to many international buyers seeking warm weather year-round. However, the rainy season from May to November can impact properties, especially those in low-lying areas. Prospective buyers should consider property location and construction quality to mitigate potential water damage. Climate considerations should play a role in investment decisions, particularly for long-term property maintenance and insurance.