Here is all what you need to know about what a fantastic place Colombia is now:
1.Low cost of living
The cost of living in Colombia is one of the top reasons attracting so many people to move to Colombia for their retirement. What makes it even a better deal is that the low living expenses allow you to have access to the first-world infrastructure and amenities that one would expect to see in a much more expensive location. Plus, it would be easy to find some legit bargains on food, travel, and transportation, and so on with the current exchange rate. However, gasoline is expensive in Colombia which is around $5 per gallon, so do consider taking public transportation as it takes you to almost any destination.
In addition to that, utilities bills are extremely low. High speed Internet costs $25 to $30 per month. In the climate of Andes Mountains, where the modern city of Medellin is located where neither heater nor air conditioners would be needed. You will probably end up paying just $15 a month for electricity. Cooking gas and hot water will likely cost around $5. Many households pay around $50 for electricity, water, and natural gas.
In Colombia, a system called estrato, or stratum, is used to calculate the utilities cost, including water, electricity, natural gas, phone, and internet service. An estrato number is assigned to neighborhoods by the system based on the average income of its residents. That means neighborhoods with lower estrato pay a lower rate than neighborhoods with high estrato.
2. Good food that costs much less
Thanks to Colombia's favorable climate, there are fresh fruits and vegetables available anytime throughout the year. Plus, meats organically produced in small towns cost only a fraction of what one would pay at Safeway or Kroger.
For less than $1, you can buy a fresh papaya for breakfast at the neighborhood markets. While in America, an avocado generally costs around $2, here in Colombia you would pay less than $1. The price of meat like a whole tuna costs less than $4 while that of chicken breasts ranges from $2.50 to $4.
Dining out is almost as affordable. In the nation's capital, Bogotá, a huge plate of Colombia favorite "bandeja paisa" which is a combination of beef, pork, beans, rice, and avocado costs no more than $6. What's more, A daily special at a lunch restaurant charges $2.50. As you go on exploring Colombian food scene anywhere, you would be surprised with how affordable yet scrumptious it is.
3. Buy or rent the home of your dream
If you decide to stay in Colombia, there are also abundant real estate options to choose from. Depending on the area in which you want to live, prices will vary. When it comes to Cartagena, Colombia's top tourist attractions for both local and international visitors, real estate and rental market has escalated dramatically with new malls, hotels, and condominium projects. Medellin real estate market, a project as part of Colombia's premier property market is receiving growing popularity in the international and local retiree community.
For instance, you can rent a one-bedroom condo in Medellin filled with light, fully equipped, and located within only a few minutes from all the entertainment and food scene. Alternatively, an American expat looking for something a bit more fancy might be up for a one-bedroom stylish apartment in El Poblado, Medellin that is fully renovated, has an inviting living room, and a fully equipped kitchen that opens to a perfect dining area. The location is ideal, providing you the convenience to explore the nightlife district as well as the business and commercial center. These are only two examples of what a steal renting Colombian real estate is.
The same applies to buying Colombia property. If you are interested in the price differences between major cities like Cartagena and others, you would be thrilled to learn about some of the bargains that are currently available. While you pay about $1 million for a 6,450 square feet bay view luxury penthouse in Bolivar, a comparable Balmoral penthouse in the same area with four spacious bedrooms will their own bath and closets will cost only $650,000. Check out our real estate listings across many cities in Colombia.
4.A dramatic beauty with perfect climate and great lifestyle
Colombia's diverse beauty and tropical climate accommodates whatever location and lifestyle you prefer.
One of the most popular attractions of Colombia is the Andes Mountains, which runs up the center of the country's western part and serves as a dividing line. This is where you find most of residences of the country as well as classic Spanish colonial architectures and breathtaking views. Most of Eastern Colombia is occupied with undeveloped jungles but the west is home to all sorts of environments and communities including the modern and vibrant city of Medellin.
Colombia's climate is a favorite to many because of its temperature stability across the country. This is due to its proximity to the equator which keeps the temperature the same all year round.
One of Spanish America's most desired locations is Cartagena. Located in the North of the Caribbean Sea, Cartagena is the ultimate destination for a fancy and roman dinner in a charming colonial district surrounded by turquoise shores. Another lovely seaside city to visit is Santa Marta, which is home to a stunning palm-covered beaches with the background of lush mountains.
Medellin, situated in the west, is called the city of innovation in Colombia by Wall Street Journal's Urban Land Groups and Citigroup division, making a hotspot for young start-ups from all over the world. Medellin has modern subway system, cable cars that accommodate hilltop residents, and many other advances in education, politics, and social development.
5.Rich culture comes with a rich cup of coffee
Colombian culture is very similar to that in Latin Americas. However, there are certain characteristics that make it stand out from the rest. Visitors to Colombia who are football fanatics would be thrilled to know that this sport is also a favorite of Colombians. It is the sport that brings Colombian society despite the differences in economic backgrounds.
What is also exciting about Colombia is its carnivals. This is the opportunity where the whole population come together and enjoy la fiesta, which is a prominent feature of Colombian culture. Of course, there cannot be carnivals without music. With Cumbia and Vallenato enjoyed nationwide, music plays an integral part of Colombian life. Shakira, a native Colombian, is an internationally known for her dancing and singing talent.
Art lovers often appeal to Colombian art scene as it holds a diverse range of styles and mediums that give insights into the country's cultural and political past. One interesting finding by archaeologists discovers that ceramics may have been produced in Colombia in the 3,000 BC, which is far ahead of the rest of the Americas.
6.It is absolutely safe
Considering the common misunderstanding about Colombia's safety, we feel the need to comment on this. Long gone the days of the past when Colombia was regarded with high criminal activity. Thanks to the implementation of safety policies in 2006, the security has been dramatically improved. Multiple sources have proved this true, leading to a growing flow of visitors to Colombia.
According to the US State Department, things have gotten a lot better as it reported that "Tens of thousands of U.S. citizens safely visit Colombia each year for tourism, business, university studies, and volunteer work. Security in Colombia has improved much in recent years, including in tourist and business travel destinations such as Bogota, Cartagena, Barranquilla, Medellín, and Cali." Not only that, Forbes, National Geographic, and the New York Times have all recommended several Colombian cities and geographic attractions as must-see venues.
7. Colombia has an amazing health care system
If you think Colombia is a Third World, think again! Not only is Colombian health care system so much better, it is also much more affordable than health care in the U.S or Canada. As a matter of fact, health care system in Colombia ranks the highest in both American continents. It also contributes to the country's economy as it gives rise to medical tourism which leaped by over 60% between 2012 and 2013. In fact, four highest-ranking Latin American hospitals are those in Colombia.
In other words, in case of illnesses or accidents, you are certainly in good hands. hospitals and clinics are equipped with modern medicine and technology along with an army of well-trained doctors.
8. Colombian people are friendly and kind
To most people, it is important to know about how the locals are, especially to foreigners. Regardless of the low daily living costs or the great real estate listings, it is the people who make Colombia worth visiting and/or living. Indeed, the locals would go out of their way to befriend with you, make you feel welcome, or try their best to help you in case of emergency. Come spend time with Colombians and you'll become enriched more than just economic reasons-wise.
Recap on the amazing gains when you retire in Colombia:
1. Cost of living is super low
2. Affordable nutritious food
3. The home of your dream is just around the corner
4. A dramatic beauty with perfect climate and great lifestyle
5. Rich culture
6. Amazing health care system
7. Friendly and kind Colombian people
Did you like that? Join over 10,000 readers to keep up with the latest real estate-related news in South America. Feel free to drop us a message or give us a call!