Medellin, Colombia
Property prices · 2024 · Americas
Property price trend in Medellin (2024–2026)
Property comparison — cities in Colombia (2024)
Other Americas cities (2024)
Frequently asked questions
How much does property cost in Medellin in 2024?
In Medellin, the average price per sqm in the city centre is COP 6,500,000, and COP 4,200,000 outside the centre (2024 data). Prices have risen 12% since 2024.
How much is rent in Medellin in 2024?
A 1-bedroom apartment in Medellin rents for approximately COP 1,500,000 per month in 2024. A 3-bedroom apartment costs around COP 2,400,000/month.
Is it better to buy or rent in Medellin?
Renting is generally more cost-effective in Medellin. The price-to-rent ratio is 22.0x — it would take approximately 22.0 years of rental payments to equal the property purchase price. Current mortgage rates are approximately 13.50%.
What are mortgage rates in Colombia in 2024?
The average mortgage rate in Colombia is approximately 13.50% as of 2024. With a price-to-rent ratio of 22.0x, buyers should carefully weigh mortgage costs against rental savings.
What is the price per sqm in Medellin?
The average property price per square metre in Medellin city centre is COP 6,500,000 in 2024. Outside the centre, expect to pay around COP 4,200,000/sqm.