Investing in Bogota real estate - Possible bottom? Market update
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- Опубликовано: 11 июл 2024
- I had a discussion with my Bogota realtor Arcesio on the state of the Bogota real estate market. It is a market that shows signs of having bottomed.
🇨🇴 Get in touch with Arcesio: thewanderinginvestor.com/serv...
🇨🇴 Full analysis of the Bogota real estate market: thewanderinginvestor.com/inte...
🇨🇴 Full analysis of the Medellin real estate market: thewanderinginvestor.com/inte...
00:00 Introduction
00:30 Update on Bogota real estate market
01:05 Impact of elections
02:55 State of residential real estate
04:30 A buyer’s market
06:10 Purchase and renovation costs per meter
07:20 Quality of construction and maintenance
09:00 Bogota vs Medellin
09:40 Airbnb and short term rentals
11:00 Commercial real estate
12:15 Interest rate environment
12:56 Warehouse and industrial space
14:00 Get in touch with Arcesio
📌 or send him an email: arcesio@thewanderinginvestor.com (include your WhatsApp if you use it)
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No part whatsoever of the discussion and presentation is, or should be considered as, investment advice, financial advice, legal advice, or tax advice. Always do proper due diligence and speak to a qualified professional advisor in your jurisdiction. Also, be advised that Ladislas Maurice and The Wandering Investor staff may own real estate or investments in the specific markets or opportunities that are discussed. The Wandering Investor may also have marketing agreements in place with certain opportunities that are mentioned.
Colombia economy is stable and improving so future looks great
Good video, thanks for the breakdown 🔥
Thank you, interesting video, I have to go there now
Look forward to seeing what you find in Argentina. My friend and I are planing a trip there soon also to look at real estate.
Always learn something new and find it interesting😊
I was buying a condo in Colombia then when i found out im only able to obtain a one year visa i decided renting is better. I alway thought when buying real estate in colombia a five year visa was issued. They should definitely go back to the five year investment visa because it will attract way more buyers.
Yes, it’s unfortunate they removed this residency option.
Colombia economy is stable and improving thanks to few changes on policies and government people besides Colombia resources , land , weather, food , water and so many are plenty plenty
It's an interesting market, maybe the city itself just isn't interesting enough. Considering the local alternatives, just the climate alone is on the lower end of attractiveness and the infrastructure isn't coping very well either. I have the gut feeling that this market won't pick up for a long time, but it might indeed be near the bottom.
These schemes and scams are eye oppening. Thank you and god bless you sir!
Can you ask how much under asking price in percentage terms deals in the luxury market are closing at? For example if the asking price is $300,000 is the transaction price closer to $200,000 (33% below ask) or $250,000 (25% below ask) etc. Great video as usual.
You can negociate up to 5-10% typically if the initial asking price is fair
Thank you for the fast reply.
Do not purchase unless you are in country for longer that 2 years. Real estate is not a good investment in Colombia. Especially the high end. Anything over $80,000US will take 1-2 years to sell. When you are ready to purchase, ask for 30-50% below asking price. I live here and my wife and her family work in the banks, so they are well aware of what to do. You will need to talk to 30-40 sellers before one accepts. Do NOT trust the wandering investor....you will overpay!!!!
@@dgrolfe Your information is only half correct. Yes, properties often sit on the market for 6 months and even up to two years. However, the market being as terrible as it is often leads MOST sellers to price their properties fairly and most of theses properties are fully paid for. This means that these people done have the need to sell you their property for 50% of its value.
I have asked for a 35% discount before on a property. But it was a property owned by a foreigner who was out to lunch on his inflated asking price. That same property is still for sale after 3 years because he refuses to moderate his asking price by much.
I rent out rooms in Panama. What I have noticed this year is that there is an increasing number of Colombians arriving with the intention to leave their country. This week I had two looking for a room. I like Colombia a lot and it is worrying.
The US border is open. It’s an obvious choice for people to want to go there.
No puedes comparar nunca en la vida la calidad de vida de Bogotá con la de panama, Bogotá es mil veces más desarrollada, un poco de investigación a fondo (q además aquí es necesaria) Nunca cae mal!
@@demillosnadamas Refieres a mi comentario? No he comparado Bogota con Panama. A mi encanta Bogota. Es que hay gente que no ven futuro para su mismo y se van. Cada lugar tiene sus cosas buenas y malas.
@@DerPanamaKanal Ah ok pense que eras de panama hablando mal de Bogotá 😂
Does Colombia have a CBI or fast track citizenship program?
Unfortunately not
Quick one: aren't you over dispersed across the globe? How do you manage all of it, isn't it too expensive then having 3 countries maybe?
For sure he is
@@kingofmambo I've asked Lad the same question. He says he has good management services. But we will admit he is a very special person on RUclips.
@@dovygoodguy1296 they are very good until they failed you
Property management in place and I don’t micro manage.
The numbers are not there in Bogota. your rent will be too low to get a return value.
The sad reality is that the real estate window is closing rapidly all over the world. The new book, The Bubble That Broke The Bank argues that the 2026 real estate crash will vaporize billions of dollars worldwide. The real estate crash will allow the real estate bubble to pop and created a vast desert in Columbia.
Why would Bogotà be cheaper than places like La Paz Bolivia or Quito Ecuador?
Exactly
@@TheWanderingInvestor I asked because you said Bogotà is the cheapest capital in Latin America? Even cheaper than Bolivia or even Ecuador now?
@@dovygoodguy1296 Cheaper than Quito yes. Bolivia I don’t know but is not comparable anyway
Tenemos una ecomia interna muy potente, tenemos trucos, el problema es el cambio al dolar, solo con nuestra economía interna nos estamos volviendo como una potencia, ha mejorado la seguridad, ha bajado la pobreza, no es izquierda como tal es social democracia y el presidente está dominado por el pueblo, ya habia sido alcalde de Bogotá con excelentes resultados, una política sana debe variar entre izquierda y derecha sin dejar de funcionar, Bogotá es la Atenas Sur Americana!
Jajajjaa que mentiroso jajajaja petro va caer nadie lo quiere @@demillosnadamas
Once again I think it’s great that you work with the vertically challenged.
Did you see how he held that laptop in one hand? He's a tall guy
Could Arcesio explain in the Colombian context why the same voters would choose a very left-wing president like Pietro but right wing municipal or state governments closer to home along with a right wing Congress?? Could Ladislas explain his personal feelings about his investing in Colombia in the unsure context?
They elected a left wing president, realized how crap he is, and voted a bit more reasonable at the next elections.
@@TheWanderingInvestor Why did they think it was such a good idea to elect Pietro?
@@dovygoodguy1296 Because people love promises of free stuff
@@TheWanderingInvestor Despite the fact that the previous president was not a leftist? Wasn't he popular? Anyway, the voters quickly changed their mind. Strange turn of events.
@@dovygoodguy1296 Colombia has a right wing government for a very long time and they made a mistake with Petro. Now I ask you why did USA elect Joe Biden. And why did canada choose Justin Trudeau? Waiting for an answer
If there is a far left president, I am not interested. C'mon, what are you thinking.
i know, its glaringly ov=obvious what they do around the world. almost immoral to be promoting this
What is ur problem
Exacto de alguna forma ese presidente de izquierda va a tratar de robarte la inversión que vos hagas hoy
@@peregrimus read my comment: "far left". So tell me what is right about this.
Es social democracia no extrema izquierda, demasiada TV
we have some mix feelings towards Colombia and its current political situation, there is a feel in the air about Colombians, investing outside. So this could be a good "opportunity" to invest, and probably see a better return on that investment, again it feels and looks like a risky situation.
Not risk free for sure
DO NOT INVEST IN COLOMBIA...ESPECIALLY IN REAL ESTATE!!!! PEOPLE ARE NOT BUYING NOW DUE TO THE ADMINSTRATION!!!! IF YOU PURCHASE ON PLANNING ON RESELLING IN THE FUTURE, YOUR PROPERTY WILL SIT ON THE MARKET FOR UP TO 2 YEARS~!!!!!!!
You can't reasonably invest in cites relying and depending basicaly on gringos seeking girls and dating scene for capital appreciation let's be honest, it's not serious
General market: potential for capital gains
Gringos: yields in the meantime
They serve different purposes
@@TheWanderingInvestor ce facteur me ferait quand même peur que ça soit pour du buy to let investment ou du capital appreciation, une sorte de all-in sur du tourisme sexuel en fait. Ça fait un peu léger je trouve pour investir à des milliers de kms. Sinon super contenu, keep up the good work l'ami
the gringo squeeze is very real. I do very well in colombia, thailand, philippines, bali. All these old wealthy men needing women..its one of the biggest travel industries.
You’d have to be on drugs to invest in Colombia and I’m Colombian. If you feel that you need to live there rent.
At this point investing in Colombia is = a Venezuela. If that sounds good have at it.
DO NOT BUY IN COLOMBIA!!!!!! REAL ESTATE IS NOT AN INVESTMENT HERE!!!! I've lived here for the past 4 years and have been visiting for 23 years. THIS IS NOT THE BOTTOM!!!! YOU WILL LOOSE MONEY!!!!!
I’m curious, can you explain why do you say this?
Pure lies! I have a lot of family who bought properties in Colombia and would all make a great profit if they sell.
One bought a new condo at 120k in 2019 then sold it at 290k last year to buy a better one in a better location in Cartagena.