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Cartagena's real estate market has experienced significant growth, with average property prices reaching €1,802 per square meter as of mid-2025. The historic coastal city offers diverse investment opportunities ranging from affordable options at €901/m² in peripheral areas to premium properties exceeding €4,480/m² in exclusive neighborhoods like Cabo de Palos.
Property prices vary dramatically between neighborhoods, with the Historic Centre commanding €2,107/m² while up-and-coming areas like Getsemaní and El Cabrero are experiencing restoration-driven appreciation rates of up to 600% over five years. Foreign investment and tourism continue to drive market dynamics, particularly in heritage and coastal zones.
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Cartagena's property market shows strong growth with average prices of €1,802/m² in 2025, featuring significant variation between budget-friendly peripheral areas (€901/m²) and premium neighborhoods like Cabo de Palos (€4,480/m²).
The Historic Centre and emerging restoration zones like El Cabrero offer the strongest appreciation potential, while new developments in Zona Norte provide value opportunities for long-term investors.
| Neighborhood | Average Price (€/m²) | Annual Growth | Investment Type |
|---|---|---|---|
| Cabo de Palos | €4,480 | +39.6% | Premium/Luxury |
| Historic Centre | €2,107 | +21.9% | Heritage/Tourism |
| Mar Menor de Cartagena | €2,141 | High | Premium Residential |
| Alameda | €1,679 | +13.4% | Residential/Mixed |
| El Cabrero | Variable | Up to 600%* | Restoration/Appreciation |
| Getsemaní | Variable | High | Cultural/Tourism |
| Pedanías Noroeste | €901 | Stable | Budget/Entry-level |
What are the current average house prices in Cartagena by property type?
As of September 2025, Cartagena's residential property market shows an overall average price of €1,802 per square meter.
Apartments vary significantly based on size, with studios commanding COP 959,753 per square foot, while 2-bedroom units average COP 624,424 per square foot. Three-bedroom apartments are priced at COP 569,805 per square foot, and 4-bedroom apartments jump to COP 895,737 per square foot.
Houses follow a different pricing structure, with 4-bedroom properties averaging COP 451,764 per square foot and 5-bedroom houses reaching COP 601,150 per square foot. The price range across all property types spans from €800 to €4,480 per square meter, depending on location and specific characteristics.
Premium properties in exclusive coastal areas command the highest prices, while peripheral neighborhoods offer more affordable entry points for investors and residents alike.
How do prices differ between the most popular neighborhoods?
Cartagena's neighborhood pricing reveals stark differences that reflect the city's diverse character and investment appeal.
The Historic Centre, also known as the Old Town, commands €2,107 per square meter with an impressive 21.9% year-over-year growth. This UNESCO World Heritage site remains the most sought-after area for both tourists and investors seeking heritage properties.
Cabo de Palos stands as the most expensive neighborhood at €4,480 per square meter, experiencing an extraordinary 39.6% annual growth rate. Mar Menor de Cartagena follows closely at €2,141 per square meter, representing another premium residential zone with high growth potential.
Alameda offers a more moderate option at €1,679 per square meter with 13.4% annual growth, making it attractive for buyers seeking quality without the premium price tag of the most exclusive areas.
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Which areas are considered the most expensive, the most up-and-coming, and the most budget-friendly?
Cartagena's real estate landscape divides into three distinct investment categories based on price points and growth potential.
Most Expensive Areas:
- Cabo de Palos (€4,480/m²) - Premium coastal location with luxury amenities
- Mar Menor de Cartagena (€2,141/m²) - Exclusive residential area with modern infrastructure
- Historic Centre (€2,107/m²) - UNESCO heritage site with cultural significance
- Alameda (€1,679/m²) - Established upmarket neighborhood
- Bocagrande - High-rise developments with ocean views
Most Up-and-Coming Areas:
- Getsemaní - Cultural renaissance with artist community growth
- El Cabrero - Restoration boom with up to 600% value increases over five years
- Pie de la Popa - Attracting young professionals and digital nomads
- Zona Norte - New infrastructure and gated community developments
- Emerging peripheral zones with planned urban development
Most Budget-Friendly Areas:
- Pedanías Noroeste (€901/m²) - Most affordable entry point
- Suburban Cartagena - Peripheral areas with basic infrastructure
- Outer residential zones - Developing neighborhoods with growth potential
- Traditional local areas - Authentic neighborhoods away from tourist zones
- Industrial-adjacent zones - Lower prices due to mixed-use development
What is the average price per square meter for each area and property type?
| Area | Property Type | Price per m² (€) | Growth Rate |
|---|---|---|---|
| Cabo de Palos | Luxury Villas/Apartments | €4,480 | +39.6% |
| Historic Centre | Heritage Properties | €2,107 | +21.9% |
| Mar Menor | Premium Residences | €2,141 | High |
| Alameda | Mid-tier Apartments | €1,679 | +13.4% |
| Bocagrande | High-rise Condos | €1,400-€2,000 | Moderate |
| Getsemaní | Restored Colonial | €1,200-€1,800 | High |
| El Cabrero | Renovation Projects | €1,000-€2,500 | Up to 600%* |
| Pedanías Noroeste | Basic Housing | €901 | Stable |
What are some real-life examples of recent property purchase prices?
Recent property transactions in Cartagena demonstrate the market's diverse price range and investment opportunities across different segments.
Large historic homes in the Old Town frequently exceed €1 million, reflecting their heritage value and prime tourist location. A typical colonial mansion with original features and modern renovations can reach €1.2 to €1.8 million depending on size and condition.
In upmarket residential areas, a 3-bedroom apartment averages €780,000, while luxury 4-bedroom villas command approximately €1,995,000. Premium villas across exclusive neighborhoods typically range from €700,000 to €1,500,000, depending on amenities and location proximity to the coast.
Mid-range properties offer more accessible entry points, with renovated apartments in Getsemaní selling between €180,000 and €350,000 for 2-3 bedroom units. New developments in Zona Norte start around €120,000 for basic units and reach €400,000 for premium finishes.
Budget-conscious buyers can find opportunities in Pedanías Noroeste and outer areas, where properties start at €901 per square meter, translating to complete apartments from €90,000 to €180,000.
How have prices changed compared to one year ago and five years ago?
Cartagena's property market has experienced substantial appreciation over both short and long-term periods, with premium areas leading growth rates.
Over the past year (2024-2025), the overall market grew by 12.4%, significantly outpacing Colombia's general inflation rate. Cabo de Palos led with an extraordinary 39.6% increase, while the Historic Centre appreciated by 21.9%, and Alameda showed steady growth at 13.4%.
The five-year trend reveals even more dramatic appreciation in certain neighborhoods. El Cabrero has experienced up to 600% value increases due to extensive restoration projects and international buyer interest. Getsemaní has similarly benefited from cultural regeneration, with properties doubling or tripling in value since 2020.
Heritage properties in the Historic Centre have shown consistent appreciation of 15-25% annually over the five-year period, driven by UNESCO designation benefits and growing tourism infrastructure. Coastal areas like Bocagrande have maintained steady 8-12% annual growth, supported by luxury hotel development and improved amenities.
Emerging neighborhoods like Zona Norte started from lower baselines but have shown 20-35% annual appreciation as new infrastructure and gated communities attract middle-class Colombian and foreign buyers.
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What are the forecasts for property prices in one year, five years, and ten years?
Cartagena's property market outlook remains optimistic across all time horizons, though growth rates are expected to moderate from current exceptional levels.
For 2026, analysts project annual growth of 3-7% as the market stabilizes from the rapid appreciation of 2024-2025. Premium areas like the Historic Centre and Cabo de Palos may continue outperforming with 8-12% growth, while emerging neighborhoods could see 10-15% appreciation as development projects complete.
The five-year outlook (2025-2030) anticipates continued upward trajectory driven by several factors: increased foreign investment, infrastructure improvements including the expanded airport and cruise terminal, and Colombia's growing reputation as a luxury tourism destination. Restoration projects in historic neighborhoods are expected to continue driving premium pricing.
Over ten years (2025-2035), market experts maintain a bullish outlook for well-positioned neighborhoods, though they acknowledge potential risks from cyclical slowdowns or overdevelopment in certain sectors. Heritage areas are expected to maintain premium status, while currently emerging neighborhoods may reach maturity with established infrastructure and amenities.
Long-term growth drivers include Cartagena's unique combination of UNESCO heritage status, Caribbean coastal location, and Colombia's improving international investment climate.
How do Cartagena's prices compare with other similar major cities?
| City | Avg. Price (USD/m²) | Annual Growth | Rental Yields | Investment Appeal |
|---|---|---|---|---|
| Cartagena | $800-$1,200 | 20% | 5.9-6.8% | Very High |
| Bogotá | $1,500-$2,000 | 15% | 6-10% | High |
| Medellín | $1,000-$1,500 | 10% | 6.5-9.75% | High |
| Cali | $900-$1,300 | 8% | 4.5-7% | Medium |
| Barranquilla | $800-$1,100 | 9% | 6.4-7.8% | Medium |
| Santa Marta | $700-$1,000 | 12% | 6.2-8.1% | Med-High |
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Colombia versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.
What are the additional costs involved, such as taxes, fees, and notary expenses?
Property acquisition in Cartagena involves several mandatory costs beyond the purchase price that buyers must factor into their investment calculations.
Notary fees range from 0.3% to 0.7% of the property's purchase price and cover the legal documentation and title transfer process. Registration fees add another 1% to 1.5% for official property registration with Colombian authorities.
Transfer tax (Registro) typically costs 1% to 3% of the property value, depending on the specific municipality and property characteristics. Legal fees, while optional, are highly recommended for foreign buyers and generally cost 1% to 2% of the purchase price for comprehensive due diligence and contract review.
Real estate agency fees are traditionally paid by the seller in Colombia, though this arrangement can vary in specific transactions. Additional costs may include translation services for foreign buyers, property surveys, and title insurance for added security.
Foreign buyers should budget approximately 3% to 6% of the property price for total additional costs, though luxury properties or complex transactions may incur higher legal and administrative expenses.
What would the total purchase cost be, including all fees and taxes, for a typical property?
A comprehensive cost breakdown for a typical Cartagena property purchase demonstrates the true investment required beyond the advertised price.
For a representative property priced at €250,000 in a mid-tier neighborhood like Alameda, the additional costs break down as follows: notary fees of €1,750 (0.7%), registration fees of €3,750 (1.5%), transfer tax of €5,000 (2%), and legal fees of €3,750 (1.5%).
The total additional costs amount to approximately €12,500, representing 5% of the purchase price. This brings the complete acquisition cost to €262,500 for a €250,000 property.
Premium properties often incur higher proportional costs due to additional due diligence requirements, specialized legal services, and potential luxury tax implications. A €750,000 Historic Centre property might see total additional costs of €45,000 to €52,500 (6-7%).
Budget properties in areas like Pedanías Noroeste may have slightly lower proportional costs, with a €150,000 property requiring approximately €7,500 in additional expenses (5%), resulting in a total cost of €157,500.
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What are the best property options if you plan to live in it, rent it out short term, rent it out long term, or buy to resell later?
Cartagena's diverse neighborhoods offer distinct advantages depending on your intended property use and investment strategy.
For Personal Residence: The Historic Centre provides unmatched cultural immersion and heritage value, while Bocagrande offers modern amenities and oceanfront living. Alameda presents a balanced option with good infrastructure and moderate pricing, while El Cabrero combines colonial charm with appreciation potential.
For Short-Term Rental (Airbnb/Tourism): The Historic Centre and Getsemaní dominate tourist preferences due to cultural attractions and walkable colonial architecture. El Cabrero's restored properties attract cultural tourists, while Bocagrande appeals to beach-focused visitors seeking modern conveniences.
For Long-Term Rental: Bocagrande and newer developments in Zona Norte provide stable rental demand from business travelers and expatriate professionals. Pie de la Popa attracts young professionals and digital nomads seeking authentic local experiences with modern connectivity.
For Capital Appreciation/Resale: El Cabrero and Getsemaní offer the strongest appreciation potential due to ongoing restoration projects and cultural renaissance. Zona Norte's gated communities provide value growth opportunities as infrastructure develops, while the Historic Centre maintains premium status for heritage properties.
What are the smartest property investment choices in Cartagena right now?
The current Cartagena property market presents several compelling investment opportunities for different risk profiles and capital levels.
Cabo de Palos represents the fastest-growing market segment with 39.6% annual appreciation, though it requires significant initial capital investment at €4,480 per square meter. This area suits investors seeking premium positioning and maximum capital appreciation potential.
Getsemaní and El Cabrero offer exceptional value propositions for investors willing to participate in restoration projects. These neighborhoods provide authentic colonial charm with dramatic appreciation potential, evidenced by El Cabrero's up to 600% value increases over five years.
Zona Norte presents excellent opportunities for value-oriented investors, featuring new gated communities and infrastructure development that promises strong medium-term growth. Entry prices remain accessible while benefiting from planned urban development.
For budget-conscious investors, Pedanías Noroeste and emerging peripheral districts offer entry points at €901 per square meter, providing cash flow opportunities and potential appreciation as the city expands.
Foreign investor presence continues driving premium market segments, while restoration activities and new infrastructure development fuel emerging neighborhood growth. Rental yields remain healthy at 5.9-6.8%, but capital appreciation represents the primary attraction in Cartagena's current market cycle.
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Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Cartagena's property market offers compelling opportunities across price segments, from premium heritage properties in the Historic Centre to emerging value plays in restoration neighborhoods like Getsemaní and El Cabrero.
With average prices of €1,802/m² and strong growth fundamentals driven by foreign investment and tourism infrastructure, the market presents attractive prospects for both capital appreciation and rental income generation.
Sources
- The LatinVestor - Cartagena Price Forecasts
- Overseas Property Alert - Top Market Performers 2025
- Properstar - Cartagena House Prices
- Euro Weekly News - Cartagena Housing Prices
- The LatinVestor - Cartagena Best Areas
- The LatinVestor - Cartagena Real Estate Market
- Rightmove - Cartagena Properties
- Wise - Buying Property in Colombia
- Colombia Law Connection - Property Purchase Guide
- Medellín Advisors - Cartagena Real Estate Future