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real estate and renting in Colombia

Real estate and renting in Colombia 

Colombia and real estate and renting in Colombia, has become one of Latin America’s most attractive destinations for foreigners looking to rent or buy property. Whether you’re relocating long-term, retiring, investing, or simply spending extended time in the country, understanding how the Colombian real estate and rental system works is essential.

Unlike the U.S., Canada, or Europe, Colombia has its own rules, customs, and informal practices that can surprise newcomers. This guide breaks down everything foreigners need to know about renting and buying property in Colombia, including legal requirements, costs, contracts, risks, and practical tips to protect yourself.


Can Foreigners Rent or Buy Property in Colombia?

Yes. Foreigners can legally rent and own property in Colombia with no restrictions based on nationality.

You do not need:

Colombian citizenship

Permanent residency

A Colombian spouse

You do need:

A valid passport

A Colombian tax ID (RUT) only if buying property

Proof of funds for purchases

Ownership rights for foreigners are protected under Colombian law, but the process is very different from what many foreigners are used to.


Renting Property in Colombia: How It Works

Renting is the most common option for foreigners, especially short- and medium-term stays.

Short-Term Rentals (Less Than 6 Months)

Most foreigners start here.

Common options:

Airbnb

Furnished apartments

Monthly rentals through Facebook groups or expat referrals

Pros

No guarantor required

No long contracts

Utilities usually included

Flexible for travelers

Cons

Higher monthly cost

Limited tenant protections

Not ideal for negotiating long-term discounts

This is often the best option when you first arrive and are learning neighborhoods.


Long-Term Rentals (6–12 Months or More)

This is where things get more complicated.

Typical Requirements for Long-Term Leases

Most Colombian landlords require:

Cedula (Colombian ID) – foreigners usually don’t have this

Fiador (Guarantor) – a Colombian with property and income

Proof of Colombian income

Credit history in Colombia

Because of this, many foreigners cannot rent traditionally without help.

How Foreigners Get Around This

Common solutions:

Paying 3–6 months rent upfront

Using a real estate agency experienced with foreigners

Renting through private landlords

Staying in furnished units that cater to expats

If a landlord insists on a fiador and you don’t have one, move on. There are always other options.

Find a Place to Stay: Booking.com

Consider various accommodation options based on your budget and preferences.

Booking.com offers a wide range of choices for every traveler.

Make your reservations early to secure the best rates.

Be sure to check reviews from previous guests before finalizing your stay.

Keep an eye on cancellation policies to ensure flexibility in your plans.

Enjoy your trip and make the most of your travel experience!

Rental Contracts in Colombia

Rental contracts are usually:

Written in Spanish

Valid for 12 months

Automatically renewable

Important things to review:

Penalties for early termination

Who pays utilities, HOA (administración), and maintenance

Annual rent increases (often tied to inflation)

⚠️ Never sign a contract you don’t fully understand. Have it translated or reviewed if needed.


Costs Associated With Renting

Typical monthly costs include:

Rent

Utilities (electricity, water, gas, internet)

HOA / building administration fees

Security deposits are less common than in North America but some landlords request one month upfront.


Buying Property in Colombia as a Foreigner

Buying property is straightforward legally, but you must follow the correct steps.

Requirements to Buy Property

You’ll need:

Passport

Colombian tax ID (RUT)

Funds transferred legally into Colombia

Registered foreign investment (mandatory)

Funds must enter Colombia through official banking channels and be registered with the Banco de la República.


Property Purchase Process

Make an offer

Sign a promesa de compraventa (purchase agreement)

Conduct legal due diligence

Transfer funds legally

Finalize the sale at a notaría

Register the deed

This process usually takes 30–60 days.


Additional Costs When Buying Property

Expect 8–12% of the purchase price in additional costs, including:

Notary fees

Registration fees

Legal review

Real estate commission (sometimes paid by buyer)

Taxes

Unlike some countries, mortgages for foreigners are rare, so most purchases are cash.


Real Estate Agencies vs. Private Sales

Using an Agency

Pros

Safer for foreigners

Help with paperwork

Knowledge of neighborhoods

Cons

Higher prices

Commission fees

Buying Directly From Owners

Pros

Better pricing

More negotiation

Cons

Higher risk

Requires legal support

⚠️ Always use a real estate attorney when buying privately.


Common Mistakes Foreigners Make

Paying deposits without contracts

Renting unseen properties

Not confirming utility debts

Ignoring HOA fees

Assuming contracts work like the U.S.

Not registering foreign investment

Colombia is safe for real estate transactions when done correctly, but informal deals can turn into expensive lessons.


Best Cities for Foreigners to Rent or Buy

Popular choices include:

Medellín

Bogotá

Cartagena

Santa Marta

Pereira

Bucaramanga

Each city has different pricing, climate, lifestyle, and rental cultures.


Final Advice for Foreigners

If you’re new to Colombia:

Rent short-term first

Learn neighborhoods before committing

Avoid rushing purchases

Work with professionals experienced with foreigners

Colombia offers excellent value and lifestyle opportunities, but knowledge is your best protection.

Next: check out  Cost of Living in Colombia

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