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Yes, the analysis of Cartagena's property market is included in our pack
Thinking about buying a 3-bedroom apartment in Getsemaní? It’s a vibrant area, but you're probably wondering: is now the right time to buy, or should you wait for prices to drop?
And what about long-term investment—should you look into other neighborhoods like Bocagrande or Manga where property values might appreciate more over time?
In this article, we’ll answer these questions. We know this market quite well - and we have put all our knowledge in the Cartagena Property Pack.
Will property prices increase in Cartagena in 2025?
Yes, property prices in Cartagena are expected to rise in 2025, driven by a combination of high demand and a limited supply of housing.
Backed by our fresh, in-depth market analysis, we’re confident that Cartagena remains an attractive destination for both domestic and international investors.
While there are some economic challenges like inflation and potential interest rate hikes, the main drivers behind Cartagena’s price growth remain strong.
The city's appeal as a tourist destination and its growing reputation as a cultural and historical hub continue to attract buyers, ensuring that demand remains robust.
Signals pointing to a property price increase in Cartagena
Here are some factors suggesting prices could increase:
Cartagena's tourism sector is expected to continue its growth trajectory, attracting more international visitors and investors. This increased interest in the city is likely to drive up demand for properties, particularly in popular tourist areas.
The local government is investing in infrastructure improvements, including transportation and public amenities, which are expected to enhance the city's appeal and increase property values.
Cartagena's historical and cultural significance is drawing more expatriates and retirees looking for a vibrant lifestyle, boosting demand for residential properties.
The limited availability of land for new developments in prime areas is expected to constrain supply, putting upward pressure on property prices.
Cartagena's growing reputation as a safe and stable investment destination in Colombia is attracting more foreign investors, increasing competition for available properties.
The city's strategic location on the Caribbean coast makes it a desirable location for both vacation homes and permanent residences, further driving demand.
Cartagena's real estate market is benefiting from a trend of urbanization, with more people moving to the city for job opportunities and a better quality of life, increasing demand for housing.
Signals pointing to a property price decrease in Cartagena
Here are some factors suggesting prices could fall:
Economic uncertainties, such as inflation and potential interest rate increases, could impact buyers' purchasing power, leading to a slowdown in demand.
If the global economic situation worsens, it could affect foreign investment in Cartagena's real estate market, potentially reducing demand.
Environmental concerns, such as rising sea levels and climate change, could impact the desirability of coastal properties, potentially affecting property values in certain areas.
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If property prices go up in Cartagena, how much would they increase by?
If real estate prices in Cartagena were to rise in 2025, the increase would likely be around 3% to 7% of their 2024 values.
Typically, real estate in emerging markets like Cartagena appreciates by approximately 3% to 7% annually over the long term. However, fluctuations can occur depending on factors such as location, tourism trends, and property type.
It means that, if you spot a charming colonial-style apartment in the historic center for 500,000,000 COP today, don't be surprised if it's priced between 515,000,000 and 535,000,000 COP this time next year.
To give you a better understanding, here is a table that shows 7 types of Cartagena real estate properties, their estimated prices in 2024, and projections for 2025 based on potential price increases of 3%, 5%, and 7%.
| Type of Property | Average Price in 2024 (COP) | Price in 2025 (3% increase) | Price in 2025 (5% increase) | Price in 2025 (7% increase) |
|---|---|---|---|---|
| Colonial Apartment (60 sqm / 646 sqft) | 500,000,000 | 515,000,000 | 525,000,000 | 535,000,000 |
| Modern Condo (75 sqm / 807 sqft) | 700,000,000 | 721,000,000 | 735,000,000 | 749,000,000 |
| Luxury Penthouse (100 sqm / 1,076 sqft) | 1,500,000,000 | 1,545,000,000 | 1,575,000,000 | 1,605,000,000 |
| Studio (30 sqm / 323 sqft) | 250,000,000 | 257,500,000 | 262,500,000 | 267,500,000 |
| Loft (80 sqm / 861 sqft) | 800,000,000 | 824,000,000 | 840,000,000 | 856,000,000 |
| Townhouse (150 sqm / 1,615 sqft) | 2,000,000,000 | 2,060,000,000 | 2,100,000,000 | 2,140,000,000 |
| Investment Property (50 sqm / 538 sqft) | 400,000,000 | 412,000,000 | 420,000,000 | 428,000,000 |
Everything you need to know is included in our Property Pack for Cartagena
If real estate prices go up in Cartagena, which areas are likely to see the biggest increases?
Today, people who want to move to Cartagena are looking for a blend of historical charm and modern amenities, which Getsemaní offers. Hence, we could see a price increase there in 2025.
Also, lately, there's been a shift toward more youthful, vibrant neighborhoods, and Bocagrande has really taken off.
We like it when information is clear and easy to digest. So, here’s a table that highlights the areas where prices might rise the most, along with the reasons behind those expected increases. It’s very high-level. If you want more details on a specific area, please check our real estate pack tailored to the Cartagena market.
| Neighborhood | Level of Increase | Why |
|---|---|---|
| Getsemaní | High | Recent development of boutique hotels and its increasing appeal to international tourists, driving demand for residential properties. |
| Bocagrande | High | Expected rise due to its prime beachfront location, luxury high-rise developments, and growing demand for vacation homes. |
| Manga | Medium-High | Ongoing gentrification and new marina projects, along with several planned redevelopment projects in the area, are likely to push prices higher. |
| Crespo | Medium | The proximity to the airport and new infrastructure developments are making it an attractive area for both locals and expatriates. |
| Castillogrande | Medium-High | High-end residential projects and its reputation as a prestigious neighborhood are increasing its attractiveness for affluent buyers. |
| El Laguito | Medium | Investment in local infrastructure and the development of new leisure facilities are boosting long-term value. |
| La Boquilla | Medium-High | With new resort and residential developments, this coastal area is seeing increased demand from both residents and investors. |
| Centro Histórico | High | Upcoming large-scale restoration projects and improved public transport access are expected to make this area more desirable. |
| Zona Norte | Medium-High | Its proximity to the beach, along with new residential and commercial developments, makes it increasingly attractive to professionals seeking more space. |
| Pie de la Popa | Medium | Gentrification and cultural regeneration projects are attracting new residents, leading to rising prices as the area becomes more fashionable. |
| San Diego | High | As new luxury developments are launched, demand for premium housing among wealthy buyers is expected to further increase property values. |
| El Cabrero | High | Upcoming restoration of historic sites and high-profile cultural projects are driving a renewed focus on this central, historic location. |
-The best areas to buy a property in Cartagena
If I'm looking to invest in real estate, what types of properties should I focus on for the best value appreciation in Cartagena?
In 2025, Cartagena real estate trends focus on tech-smart, energy-efficient apartments, beachfront properties, colonial-style homes in the historic center, and eco-friendly buildings—all driving higher demand and prices. Here is a summary.
- Tech-Equipped and Energy-Efficient Apartments:
Driven by remote work and sustainability trends, these homes offer smart technology features and energy-saving systems. They cater to young professionals and tech workers, making them a hot commodity in 2025.
- Beachfront Properties:
With Cartagena's stunning coastline, beachfront properties are in high demand. These properties offer breathtaking views and easy access to the beach, making them highly desirable for both locals and international buyers.
- Colonial-Style Homes in the Historic Center:
The charm of Cartagena's historic center, with its colonial architecture, attracts buyers looking for unique and culturally rich properties. These homes are not only a piece of history but also a sound investment due to their timeless appeal.
- Eco-Friendly Buildings with Low Carbon Footprints:
Cartagena's commitment to sustainability is boosting demand for eco-certified buildings. Buyers are increasingly valuing properties that align with the city’s green goals, leading to price appreciation in this category.
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