To buy property in Colombia sounds like a dream, right? And for many foreigners, it absolutely can be. But even if you’ve been living here for a while, just arrived, or are still abroad exploring your options, there’s something you should know from the start: this is not something you should do without proper guidance.
Too often, foreigners jump into real estate deals thinking it’s the same as buying back home, only to find themselves tangled in legal confusion, unexpected taxes, or contracts they don’t fully understand. That’s why we’re breaking it all down, so you don’t just fall in love with Colombia, but invest in it wisely.
Why do so many expats want to buy property in Colombia?
It’s no secret that Colombia has become one of the most attractive countries in Latin America for expats. Recently, Colombia was named the most beautiful country in Latin America and the third most beautiful in the world, ranking just behind Indonesia and New Zealand. From the cool climate of Medellín to the Caribbean breeze in Cartagena, people are moving here for the lifestyle, but they’re staying because of the opportunity. And one of the biggest draws? Real estate.
Properties here, especially compared to the U.S. or Europe, are affordable, diverse, and full of potential. It could be you’re looking for a modern condo in the city, a finca in the countryside, or a colonial gem in a historic town, Colombia offers real value for your money.
But behind the appeal, there’s complexity. And this is where most expats make their first mistake.
What makes the buying process so different?
Let’s start with the basics: buying property in Colombia as a foreigner is 100% legal. You don’t need to be a resident or citizen. However, there are laws, processes, and taxes involved that are very specific to this country, and they often differ drastically from what foreigners are used to.
For example, properties in Colombia don’t always come with a clean title. In some cases, a property has changed hands over generations without being properly registered. This means a title search and due diligence are essential, not optional.
Also, the role of the notary here is much more powerful than in other countries. You don’t just need a lawyer, you need someone who understands how to coordinate with notaries, registrars, banks, and currency exchange regulators. It’s a dance, and if you miss a step, it can cost you.
Who’s most at risk?
It’s not just first-timers who fall into traps. Many expats who have lived in Colombia for years still struggle with the buying process. Why? Because knowing the language doesn’t always mean knowing the law.
Others are still living abroad and rely on a friend, a family member, or worse, an agent with no legal expertise, to guide them. This might work when everything goes perfectly. But when it doesn’t? You’re the one left with a legal mess thousands of miles away.
That’s why it’s critical to treat real estate in Colombia like what it is: a serious investment that needs serious planning.
Currency, taxes, and money transfers
Another key consideration when you buy property in Colombia is how you bring money into the country. If you don’t register the funds properly through the Banco de la República (Colombia’s central bank), it can cause problems later, not just with taxes, but with repatriating your money or qualifying for a visa.
Speaking of taxes, did you know that just owning a property in Colombia comes with responsibilities? Property tax, income tax (if you rent), and potentially wealth tax must be considered. Many expats are shocked when the DIAN (Colombia’s tax authority) comes knocking a year or two down the line.
The good news? All of these things are completely manageable if you’re working with the right people.
Legal guidance isn’t a luxury. It’s a must.
No matter how beautiful the property or how tempting the deal, buy property in Colombia without legal advice is like skydiving without a parachute. Even experienced investors know that Colombian real estate requires a team, a lawyer, an accountant, and sometimes a real estate consultant who understands the expat context.
What makes the process easier is having all of that in one place. That’s why many foreigners work with firms that specialize in helping non-residents buy real estate here. Not only do they handle the paperwork and legal steps, but they also explain things in your language (literally and legally), so you never feel like you’re taking a blind step. Explore our services.
The upside: When done right, Colombia is a fantastic place to invest
Let’s not forget why you’re doing this in the first place. Real estate in Colombia is still undervalued compared to other markets. You can buy a luxury apartment in Medellín or Bogotá for a fraction of what you’d pay in Miami or Madrid. And if you’re buying to rent, the tourism and digital nomad boom has made short-term and long-term rentals more profitable than ever.
Plus, owning property in Colombia may qualify you for an investment visa, which is often the first step toward residency or citizenship. That’s not just a home, it’s a long-term plan.
Conclusion
If you’re planning to buy property in Colombia, do it like a smart investor. Take your time. Ask questions. And work with experts who know the system inside and out.
Colombia can offer you everything you’re looking for: lifestyle, affordability, opportunity. But the real value comes when you protect your investment from day one.
At Gutierrez Group, we’ve helped hundreds of foreigners just like you not only find the perfect property but also navigate the entire legal process, from contracts to closing, taxes to visas. If you’re ready to make Colombia your home or next investment move, let’s do it right.
