Colombia’s second-largest city has emerged as a tourist magnet in recent years, as well as a fast-growing second home destination in the region. According to our data, demand from potential buyers grew 20 times in 2021, making it one of the leading locations in the region after Mexico City.
Dubbed a rising star by the Wall Street Journal in 2019, the area’s year-round temperate climate and scenic position surrounded by the lush green Andes attracts many visitors. From El Poblado, home to the largest percentage of expats to tree-lined Envigado, there are many neighborhoods to explore in the city of eternal spring. The world’s most innovative city in 2013, there’s still much to admire in 2022, including a modern metro system and cable cars offering dramatic views and excellent transport links.
Business-wise, there’s inventiveness too: Medellín is a platform for development in Latin America, an attractive place to do business, and a place where US companies often hold meetings. Supporting that is 2ThinkNow’s inclusion of the city in their 2021 Innovation Cities™ Index. As well as taking creatvity into account, the ranking also considers factors such as security, quality of cultural assets, size of foreign investment, and economy size.
According to the design publication Wallpaper*, “foliage is fashionable once more” in Medellín, with eco-forward architecture spreading its roots and the friendly people that fill the metropolis proud of how far it’s come. On the other side of a dangerous and complicated past, present-day Medellín is a creative hub, with an economy that’s among the fastest-growing in South America.
An emerging real estate destination
And so, it’s no wonder the municipality has piqued the interest of wealthy real estate buyers.
Our data supports that, with Medellín growing from a few thousand site visits in 2020 to holding a position between Mexico City and Bahamas’ Exuma Islands in 2021 – an impressive feat considering Medellín has far less supply in terms of luxury properties compared to those better-known locations. The skyrocketing popularity is understandable for a city transformed from a danger zone to a “rising tourist star” in slightly more than a decade.
With an average listing price of $880,000 ($1,900 per square meter), that’s 35-50% lower than in neighboring Mexico ($1,300,000/$3,000) and Costa Rica ($1,200,000/$2,500).
A top spot for digital nomads, there’s so much more to the city, including strolling alongside the Medellín River, relaxing in green spaces like Plaza Botero, Parque Lleras, Arvi nature preserve, and Jardín Botánico, and viewing street art in Comuna 13. Top hiking opportunities span Cerro de las Tres Cruces, Arenales Waterfall, and Cerro Quitasol, and more adventurous activities include paragliding in the lush surrounding Andes.
For golf, there’s Club Campestre Llanogrande, the ninth best course in Colombia. And noteworthy day trips or short breaks range from visiting Laguna de Guatape to checking out Rio Claro Nature Reserve. Affluent buyers and investors who love nature, culture, sports, and undeniably beautiful surroundings will be in their element.
Offering value for money in an emerging tourist hotspot, Medellín is one of the most sought-after upscale second home destinations in the region.
Tropical modernism in Medellín
Known for its use of indigenous traditions, local materials, and indoor-outdoor connectivity, Sri Lankan architect Geoffrey Bawa was the first to apply Tropical Modernism, with Luis Barragán, Paulo Mendes da Rocha and Marcio Kogan also influenced by the movement.
In Medellín, urban planners are “greenifying” and getting back in touch with native traditions, evidenced by 30 green corridors, the planting of 8,300 trees and 350,000 shrubs, and pumping oxygen back into the most polluted neighborhoods. Furthermore, many properties boast architecture that competes with the noteworthy examples of Tropical Modernism in Costa Rica, Brazil, and Argentina. With that in mind, we’ve compiled a list of top homes for sale in the city of eternal spring.
Deluxe celebrity-owned villa in Envigado, Medellin
Price: approx. $3,600,000
Visually impressive, this contemporary low-level house was conceived by a Colombian architect and features six bedrooms across 1,475 square meters. Close to El Poblado, the world-class property is home to a cinema, gym, and steam room, while the master suite comes complete with an en-suite by Italian designer Antonio Lupi. Outside, the next owner will be wowed by a private garden with a swimming pool, tennis court, and a state-of-the-art barbecue area. With plenty of indoor/outdoor living opportunities, the residence is ideal for making the most of the balmy year-round climate.
Five-bedroom house surrounded by nature in Las Palmas, Medellin
Price: approx. $890,000
This remarkable two-story 6.5-bathroom property oozes chicness, with wooden flooring, a striking staircase, and statement lighting. Bringing the outside in whenever possible, the homely yet uber-stylish residence features glorious mountain views from the deck and BBQ area. And inside, you’ll find superb attention to detail, with eye-catching artwork, a modern kitchen, warm tones, and 24/7 security. Other amenities include two parking spots and a walk-in closet.
One-of-a-kind artist-designed apartment in Provenza, Medellin
Price: approx. $815,000
Minimalist yet welcoming with neutral tones throughout, this deluxe three-bedroom condo is located within El Poblado in trendy Provenza and was created by one of Latin America’s most renowned designers. The building’s exterior is laden with lush foliage, making this a striking piece of contemporary and sustainable architecture. Delight in 301 square meters of bright and airy inside space, a terrace of 21.5 square meters to enjoy the verdant panoramas from, and 21.79 square meters for plants. Additional features include two parking spaces and a communal outdoor pool.
