Colombia: House Prices, Rents, and Rental Yields
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Yields are spectacular at 12% in Bogota
| Last Updated: Sep. 25, 2005 | |||||
| BOGOTA - Apartments | COST (US$) | YIELD (p.a.) | PRICE/SQ.M. (US$) | ||
| TO BUY | MONTHLY RENT | TO BUY | MONTHLY RENT | ||
| 50 sq. m. | 25,000 | 200 | 9.60% | 500 | 4.00 |
| 100 sq. m. | 60,000 | 500 | 10.00% | 600 | 5.00 |
| 120 sq. m. | 80,000 | 700 | 10.50% | 667 | 5.80 |
| 150 sq. m. | 95,000 | 1,000 | 12.63% | 633 | 6.70 |
| 200 sq. m. | 150,000 | 1,500 | 12.00% | 750 | 7.50 |
| 250 sq. m. | 250,000 | 1,800 | 8.64% | 1,765 | 7.20 |
| 300 sq. m. | 300,000 | 2,000 | 8.00% | 1,000 | 6.70 |
| BOGOTA - Houses | |||||
| 200 sq. m. | 100,000 | 900 | 10.80% | 500 | 4.50 |
| 250 sq. m. | 150,000 | 1,200 | 9.60% | 600 | 4.80 |
| 300 sq. m. | 200,000 | 1,500 | 9.00% | 667 | 5.00 |
| 350 sq. m. | 250,000 | 1,700 | 8.16% | 714 | 4.90 |
| 400 sq. m. | 300,000 | 2,000 | 8.00% | 750 | 5.00 |
| MEDELLIN - Apartments | |||||
| 50 sq. m. | 25,000 | 200 | 9.60% | 500 | 4.00 |
| 100 sq. m. | 50,000 | 500 | 12.00% | 500 | 5.00 |
| 150 sq. m. | 90,000 | 1,000 | 13.33% | 600 | 6.70 |
| 200 sq. m. | 100,000 | 1,500 | 18.00% | 500 | 7.50 |
| 250 sq. m. | 150,000 | 1,700 | 13.60% | 600 | 6.80 |
| MEDELLIN - Houses | |||||
| 200 sq. m. | 150,000 | 800 | 6.40% | 750 | 4.00 |
| 250 sq. m. | 200,000 | 1,000 | 6.00% | 800 | 4.00 |
| 300 sq. m. | 250,000 | 1,500 | 7.20% | 833 | 5.00 |
| 350 sq. m. | 300,000 | 2,000 | 8.00% | 857 | 857 |
| 400 sq. m. | 350,000 | 2,500 | 8.57% | 875 | 6.30 |
| Source: Global Property Guide | |||||
Yields are relatively high in Colombia, because of the stagnant residential property prices combined with (nominally) rising rents. House prices were generally flat from 2000 to 2004, while rents grew by 12.74% over the same period. Over a longer period of time, when house prices fell by 37% from 1995 to 2000, rents rose by 106% over the same period.
Although the law limits the monthly rent to 1% of the property value (or 12% annually), in reality a 150 sq. m. apartment in Bogotá can yield up to 12.6%. Other sized apartments can expect yields between 8% and 12%.
Houses in Bogotá have yields of about 8% to 11%. Apartments in Medellin tend to have higher yields, from 9% to 18%. However, yields for houses are around 6% to 8%.
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