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Everything you need to know before buying real estate is included in our Colombia Property Pack
Apartment prices in Cali, Colombia offer exceptional value compared to other major Latin American cities. As of September 2025, the average price per square meter ranges from COP 3,750,000 to COP 3,800,000, making it one of the most affordable major cities in Colombia for property investment and relocation.
If you want to go deeper, you can check our pack of documents related to the real estate market in Colombia, based on reliable facts and data, not opinions or rumors.
Cali's apartment market offers competitive pricing with one-bedroom units starting around COP 131 million and three-bedroom apartments reaching up to COP 456 million in premium areas. The city has experienced steady growth of 5-10% annually since 2022, making it an attractive option for both investors and residents.
Additional costs include monthly HOA fees of COP 250,000-600,000, annual property taxes of approximately 1% of property value, and closing costs of 3-4% of the purchase price.
| Apartment Type | Size Range (m²) | Price Range (COP) | Price Range (USD) |
|---|---|---|---|
| 1-bedroom | 35-50 m² | 131,250,000 - 190,000,000 | $33,000 - $48,000 |
| 2-bedroom | 55-75 m² | 206,250,000 - 285,000,000 | $52,000 - $72,000 |
| 3-bedroom | 80-120 m² | 300,000,000 - 456,000,000 | $76,000 - $115,000 |
| Monthly HOA fees | - | 250,000 - 600,000 | $65 - $155 |
| Monthly utilities | 2-bedroom apt | 250,000 - 450,000 | $65 - $115 |
| Closing costs | % of purchase price | 3% - 4% | 3% - 4% |
| Annual property tax | % of property value | ~1% | ~1% |
What's the average price per square meter for apartments in Cali right now?
As of September 2025, apartment prices in Cali average between COP 3,750,000 and COP 3,800,000 per square meter for standard residential units.
This price range represents the median for typical apartments across the city, making Cali one of the most affordable major cities in Colombia for real estate investment. Premium neighborhoods like Ciudad Jardín command higher prices, reaching up to COP 4,556,818 per square meter, which is approximately 20-25% above the city median.
The most expensive area is Pance, where prices can reach COP 5,278,670 per square meter, representing nearly a 40% premium over the city average. These southern neighborhoods attract buyers seeking modern amenities and better infrastructure.
It's something we develop in our Colombia property pack.
What's the typical total price range for apartments by bedroom count in Cali?
Apartment prices in Cali vary significantly based on bedroom count and total square footage, with clear price brackets for different property sizes.
| Apartment Type | Typical Size Range | Price Range (COP) | Price Range (USD) |
|---|---|---|---|
| 1-bedroom | 35-50 m² | 131,250,000 - 190,000,000 | $33,000 - $48,000 |
| 2-bedroom | 55-75 m² | 206,250,000 - 285,000,000 | $52,000 - $72,000 |
| 3-bedroom | 80-120 m² | 300,000,000 - 456,000,000 | $76,000 - $115,000 |
| Studio apartment | 25-35 m² | 93,750,000 - 133,000,000 | $24,000 - $34,000 |
| 4-bedroom | 130-180 m² | 487,500,000 - 684,000,000 | $123,000 - $173,000 |
These price ranges reflect current market conditions as of September 2025, with variations depending on specific location, building age, and available amenities within each property category.
How much more expensive are the most popular neighborhoods compared to the city average?
The most sought-after neighborhoods in Cali command premium prices that range from 20% to 40% above the city average, depending on specific location and amenities.
Ciudad Jardín, one of the most popular upscale areas, typically costs 20-25% more than the city median, with prices reaching COP 4,556,818 per square meter. This neighborhood attracts buyers seeking modern infrastructure, shopping centers, and better security.
Pance represents the highest premium in the city, with prices reaching COP 5,278,670 per square meter, which is nearly 40% higher than the city median. This southern neighborhood offers proximity to nature, exclusive residential developments, and modern amenities.
Other premium southern neighborhoods generally maintain prices 25-30% above the city average, while central areas like Granada and El Peñón offer more affordable options at or below the median price range.
The price differential reflects infrastructure quality, security levels, proximity to commercial areas, and overall neighborhood prestige in Cali's real estate market.
What's the price difference between new builds and older apartments of similar size?
New construction apartments in Cali cost significantly more than older properties, with price differences ranging from 50% to 100% depending on location and amenities.
New-build apartments in stratus 5-6 areas typically range from COP 3,000,000 to COP 5,000,000 per square meter, featuring modern amenities, energy-efficient systems, and contemporary design elements. These properties often include gyms, pools, security systems, and parking facilities.
Older apartments in central neighborhoods like El Peñón and Granada start from COP 1,000,000 to COP 2,000,000 per square meter. While these properties may lack modern amenities, they often provide larger living spaces and historical character at more accessible price points.
The price gap reflects differences in construction quality, energy efficiency, available amenities, and building maintenance requirements. New developments also typically include warranties and modern infrastructure that older buildings may lack.
Buyers choosing older properties should budget for potential renovation costs and ongoing maintenance, while new builds offer move-in ready conditions with modern standards.
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How do monthly HOA or building maintenance fees usually range in Cali?
Monthly HOA and building maintenance fees in Cali typically range from COP 250,000 to COP 600,000, depending on building amenities and property location.
Basic apartment buildings with minimal amenities charge around COP 250,000-350,000 per month, covering essential services like security, cleaning, and basic maintenance of common areas.
Mid-range buildings with amenities such as gyms, swimming pools, and 24-hour security typically charge COP 350,000-450,000 monthly. These fees cover facility maintenance, utilities for common areas, and professional security services.
High-end buildings in premium neighborhoods like Ciudad Jardín or Pance can charge COP 450,000-600,000 monthly, including comprehensive amenities like concierge services, multiple recreational facilities, advanced security systems, and extensive landscaping maintenance.
These fees are separate from individual utility costs and represent ongoing monthly expenses that property owners must budget for regardless of occupancy status.
What's the average annual property tax cost for an apartment based on its value?
Property tax in Cali is approximately 1% of the property's assessed value annually, making it a relatively straightforward calculation for potential buyers.
For a typical COP 250,000,000 apartment, annual property tax amounts to approximately COP 2,500,000. This rate applies consistently across different property values and neighborhood classifications within the city.
Property tax is calculated based on the official assessed value, which may differ slightly from market value but generally aligns with current property valuations. The municipal government conducts periodic assessments to ensure tax calculations reflect current market conditions.
Property taxes are typically paid annually or can be divided into quarterly payments, depending on property owner preference and municipal payment options.
This tax rate is competitive compared to other major Colombian cities and represents a manageable ongoing cost for property ownership in Cali.
What's the typical cost per month for basic utilities in an apartment?
Monthly utility costs for a standard 2-bedroom apartment in Cali range from COP 250,000 to COP 450,000, covering electricity, water, gas, and waste management services.
Electricity typically represents the largest portion of utility bills, especially in warmer months when air conditioning usage increases. Water and sewage services are generally more affordable and consistent throughout the year.
Gas costs for cooking and hot water heating remain relatively stable, while waste management fees are standardized based on property classification and neighborhood service levels.
Utility costs can vary based on apartment size, energy efficiency, usage patterns, and specific neighborhood infrastructure. Newer buildings with energy-efficient systems typically have lower electricity costs.
It's something we develop in our Colombia property pack.
How much should buyers budget for notary, legal, and registration fees when purchasing?
Buyers should budget 3-4% of the total purchase price for closing costs, including notary fees, legal expenses, and property registration.
For a COP 250,000,000 apartment purchase, expect closing costs between COP 7,500,000 and COP 10,000,000. These fees cover essential legal processes required for property transfer in Colombia.
Notary fees cover document authentication and legal validation of the property transfer, while registration fees ensure proper recording of ownership change with municipal authorities.
Legal fees for attorney services during the purchase process help ensure due diligence, title verification, and proper contract execution to protect buyer interests.
Additional costs may include property surveys, title insurance, and administrative fees depending on specific transaction requirements and lender specifications for financed purchases.
How much higher are prices for apartments with parking or extra amenities?
Apartments with parking spaces and additional amenities typically cost 10-25% more than similar-sized units without these features.
Private parking spaces add significant value, especially in central neighborhoods where street parking is limited. Properties with dedicated parking can command premiums of 10-15% over comparable units without parking.
Buildings with comprehensive amenities like swimming pools, gyms, social areas, and advanced security systems typically carry price premiums of 15-25% compared to basic residential buildings.
Premium features such as balconies with city views, modern kitchen appliances, smart home systems, and high-end finishes can increase property values by 20-30% depending on quality and exclusivity.
The amenity premium reflects both immediate lifestyle benefits and potential resale value advantages, making these features attractive for both residents and investors in Cali's apartment market.
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's the average mortgage interest rate in Colombia and typical monthly payments?
As of September 2025, mortgage interest rates in Colombia average around 9.25%, though actual consumer rates may be slightly higher depending on bank policies and borrower qualifications.
For a 20-year fixed mortgage on a COP 250,000,000 apartment at 9.5% interest, monthly payments would be approximately COP 2,300,000 to COP 2,450,000, excluding property taxes and insurance.
Colombian banks typically require a 30% down payment for foreign buyers, meaning a COP 75,000,000 down payment for the example above, with financing available for the remaining COP 175,000,000.
Monthly payment calculations should include property taxes, HOA fees, and insurance costs, which can add COP 500,000-800,000 to the total monthly housing expense.
Interest rates remain relatively high due to central bank monetary policy, making cash purchases more attractive for buyers with available capital to avoid financing costs.
How do prices in Cali compare to other major Colombian cities per square meter?
Cali offers the most affordable apartment prices among Colombia's major cities, with significant savings compared to Bogotá and Medellín.
| City | Average Price per m² (COP) | 1-Bedroom Average (USD) | Price Difference vs Cali |
|---|---|---|---|
| Bogotá | 5,028,000 | $84,000 | +33% higher |
| Medellín | 4,566,000 | $71,000-$79,000 | +21% higher |
| Cali | 3,750,000-3,800,000 | $71,000 | Base comparison |
| Barranquilla | 3,200,000-3,400,000 | $65,000 | -10% lower |
| Cartagena | 4,200,000-4,800,000 | $75,000-$85,000 | +12-27% higher |
The price advantage makes Cali attractive for both local and international buyers seeking value in Colombia's real estate market while maintaining access to urban amenities and infrastructure.
What's the recent historical trend in apartment prices in Cali over the past five years?
Cali's apartment market has experienced significant growth over the past five years, with overall prices increasing nearly 60% from 2020 to 2025.
The market showed steady annual increases of 5-10% since 2022, following initial volatility during the pandemic period. This consistent growth reflects economic recovery and increased investor confidence in Cali's real estate market.
Despite challenging market conditions in 2024 across Colombia, Cali maintained relative stability and marked a strong rebound in 2025 with continued upward momentum in apartment prices.
The growth trend reflects improving infrastructure, increased foreign investment interest, and Cali's positioning as an affordable alternative to more expensive Colombian cities like Bogotá and Medellín.
It's something we develop in our Colombia property pack.
Current market indicators suggest continued moderate growth through 2025-2026, making Cali an attractive option for both investment and residential purposes in Colombia's real estate landscape.
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.
Cali's apartment market presents compelling opportunities for both investors and residents seeking affordable Colombian real estate.
The combination of reasonable prices, steady growth trends, and lower costs compared to other major cities makes Cali an attractive choice for property buyers in 2025.
Sources
- Properstar Colombia Cali House Prices
- The LatinVestor Cali Price Forecasts
- Cali Adventurer Old Apartment Advantages
- Numbeo Colombia Cost of Living
- Trading Economics Colombia Interest Rate
- Global Property Guide Colombia 1-Bed Prices
- The LatinVestor Colombia Price Forecasts
- Global Property Guide Colombia Price History