Is it worth it buying property in Cartagena in 2025?

Authored by the expert who managed and guided the team behind the Colombia Property Pack

Yes, the analysis of Cartagena's property market is included in our pack

Who is the author of this content?

THELATINVESTOR

A team specialized in real estate investing in Latin American countries (Colombia, Mexico, Brazil, Costa Rica, etc.).

We are a team of financial experts, legal professionals, developers, and local real estate specialists dedicated to helping people like you avoid mistakes when investing in real estate in a foreign place, particularly in Colombia. If you'd like to learn more about us, you can check our presentation page.

What types of properties can you find in Cartagena and how do they compare?

Cartagena's real estate market in 2025 offers everything from modern high-rise condos to restored colonial mansions.

The most sought-after properties are colonial homes in the Walled City, ranging from $300,000 to over $3.5 million, prized for their historic charm and architectural details. Modern apartments in Bocagrande and Castillogrande typically cost between $150,000 and $1.5 million, offering sea views, pools, and full amenities.

For budget-conscious buyers, neighborhoods like Pie de la Popa and Manga offer affordable units starting at $50,000, while beachfront properties in La Boquilla and Serena del Mar range from $140,000 to $500,000, featuring eco-friendly designs and direct beach access.

Getsemaní has emerged as a trendy middle-ground option, with boutique apartments and houses priced between $100,000 and $700,000, attracting artists and young professionals. The luxury segment includes fully staffed villas in exclusive enclaves, commanding prices from $1 million to over $6.5 million.

It's something we develop in our Colombia property pack.

Should you rent or buy property in Cartagena in 2025?

The decision between renting and buying in Cartagena depends heavily on your timeline and investment goals.

Renting offers flexibility and lower upfront costs, making it ideal for digital nomads and newcomers exploring the city. Studio apartments rent for $320-$960 monthly depending on the neighborhood, while three-bedroom units in prime areas cost $600-$1,200 per month.

Buying makes financial sense if you're planning to stay long-term or want to generate rental income from Cartagena's booming tourism market. The city's strong vacation rental demand, particularly in the Walled City and Bocagrande, can provide attractive returns on investment.

Many expats follow a rent-first strategy, spending 6-12 months exploring different neighborhoods before committing to a purchase. This approach helps avoid costly mistakes and ensures you choose the right area for your lifestyle.

Consider that property ownership comes with responsibilities including property taxes, maintenance costs, and dealing with local regulations, which can be challenging without Spanish fluency or local connections.

How have Cartagena property prices changed and where are they heading?

Property prices in Cartagena have experienced remarkable growth, with some neighborhoods seeing increases of up to 600% over recent years.

As of June 2025, the citywide average price sits between $1,338 and $1,800 per square meter, with the Historic Center commanding premium prices above $2,100 per square meter. Beachfront areas like Mar Menor average $2,000-$2,200 per square meter.

Annual price growth has been running at 8-12% across most neighborhoods, driven by limited new construction due to archaeological restrictions and construction slowdowns. The Walled City and Getsemaní have seen the steepest appreciation due to their historic value and tourist appeal.

Looking forward, prices are expected to continue rising through 2025 and into 2026, fueled by ongoing tourism growth, government investment in infrastructure, and limited new supply. Industry analysts predict another 10-15% increase over the next 18 months.

What major trends are shaping Cartagena's real estate market now?

High demand coupled with limited supply remains the dominant force in Cartagena's property market as we reach mid-2025.

Archaeological restrictions and construction permit delays have severely limited new inventory, particularly in the historic areas where demand is strongest. This supply-demand imbalance continues pushing prices higher across all market segments.

Don't lose money on your property in Cartagena

100% of people who have lost money there have spent less than 1 hour researching the market. We have reviewed everything there is to know. Grab our guide now.

Download Now

How does the buying process work for foreigners in Cartagena?

Foreigners enjoy the same property rights as Colombian citizens, with no residency requirements to purchase real estate.

The process begins with opening a Colombian bank account for fund transfers and obtaining a tax ID number (NIT). You'll need to conduct thorough due diligence since Colombia lacks title insurance - hiring a reputable local attorney is essential for reviewing property titles and liens.

After negotiating the price, you'll sign a "promesa de compraventa" (sales agreement) and pay a 10% deposit. The remaining balance is typically due within 30-60 days. The final transaction involves signing a public deed at a notary office and registering the property with local authorities.

Total closing costs run approximately 2-3% of the purchase price, including notary fees, registration, and legal expenses. The entire process typically takes 30-45 days from offer to closing.

Be aware that Colombia has no MLS system, leading to duplicate listings and varying commission structures. Working with established agencies helps navigate these challenges.

Where can you find reliable real estate agencies and property listings?

Finding trustworthy property listings in Cartagena requires using multiple sources since Colombia lacks a centralized MLS system.

The top Colombian real estate websites include MetroCuadrado.com, FincaRaiz.com.co, CienCuadras.com, Mitula.com.co, and Properati.com.co. These platforms offer the most comprehensive local listings with detailed search filters.

For English-speaking services, established agencies like Cartagena First American Realty, Paul Juan Realty, and John Taylor Luxury Real Estate cater specifically to international buyers. ACR Inmobiliaria also maintains a strong reputation for both local and foreign transactions.

International property portals such as Realtor.com, Le Figaro Properties, and Properstar feature curated Cartagena listings, though their inventory is typically smaller than local sites. These platforms often focus on higher-end properties marketed to foreign investors.

Always verify that agencies are properly licensed and check references from previous foreign buyers before engaging their services.

What can different budgets buy in Cartagena's property market?

Your budget determines not just property size but also location, amenities, and renovation needs in Cartagena.

With $50,000-$100,000, you can purchase small apartments or fixer-uppers in neighborhoods like Pie de la Popa, Manga, or the city's outskirts. These properties typically need renovation but offer good value for budget-conscious buyers or investors.

The $150,000-$300,000 range opens up modern 1-2 bedroom condos in desirable areas like Bocagrande, Getsemaní, or new eco-friendly projects in Serena del Mar. These units often include amenities like pools, gyms, and 24-hour security.

Between $400,000 and $1 million, buyers can acquire large apartments in premium buildings, restored colonial homes in prime locations, or beachfront units with ocean views. Properties in this range typically feature high-end finishes and prime locations.

The luxury market above $1 million includes historic mansions in the Walled City, large beachfront estates, and fully staffed villas, with the most exclusive properties exceeding $6 million.

Which Cartagena neighborhoods offer the best value for different budgets?

Each Cartagena neighborhood offers distinct advantages and tradeoffs depending on your priorities and budget.

Pie de la Popa provides the most affordable entry point with properties starting at $50,000, offering central location and proximity to amenities, though it lacks the tourist appeal of other areas. Manga attracts families seeking quiet residential living with good schools and parks at reasonable prices.

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 expat life really like in Cartagena?

Cartagena offers expats a vibrant lifestyle blending Caribbean culture, colonial history, and modern amenities.

The city's cultural scene thrives with year-round festivals, art galleries, music venues, and a rich Afro-Caribbean heritage. Most expats find the locals welcoming, though learning Spanish significantly enhances integration and daily life.

Safety remains generally good in tourist and expat neighborhoods like the Walled City, Bocagrande, and Manga, though petty crime requires vigilance, especially regarding pickpocketing and bag snatching. Avoid displaying expensive jewelry or electronics, and use registered taxis at night.

Healthcare quality is excellent with several private hospitals offering international standards at fraction of U.S. costs. International schools serve expat families, while modern supermarkets, shopping centers, and reliable internet support comfortable daily living.

The expat community is active and welcoming, with regular social events, language exchanges, sports clubs, and networking groups making it easy to build a social circle.

How much does it cost to live in Cartagena compared to other cities?

Living costs in Cartagena run higher than most Colombian cities but remain significantly lower than comparable U.S. or European coastal destinations.

A single person can live comfortably on $1,200-$2,000 monthly, while couples typically spend $1,600-$2,500 including rent, utilities, groceries, and entertainment. These figures assume a middle-class lifestyle with occasional dining out and leisure activities.

Housing represents the largest expense, with rental prices exceeding those in Medellín or Cali by 20-30%, though still 50-70% less than Miami or Panama City. Electricity costs run higher due to air conditioning needs in the tropical climate.

Food remains affordable, especially local cuisine and fresh produce from markets. A meal at a mid-range restaurant costs $8-15, while groceries for one person average $150-250 monthly. Transportation is inexpensive with taxis and Uber readily available.

It's something we develop in our Colombia property pack.

Can you make money from long-term rentals in Cartagena?

Long-term rental demand in Cartagena remains strong from local professionals, expats, and students.

The market includes Colombian families upgrading neighborhoods, international company employees on extended assignments, retirees seeking year-round warm weather, and digital nomads preferring stability over short-term accommodations. Universities also drive demand for student housing near campuses.

Rental yields vary by neighborhood but generally offer attractive returns. Properties in central areas like Bocagrande and Manga achieve 6-8% annual yields, while emerging neighborhoods can reach 8-10% with proper management.

Professional property management typically costs 8-10% of rental income but ensures reliable tenant screening, maintenance, and rent collection. Many investors find this worthwhile given language barriers and local market complexities.

The key to success lies in choosing the right property type and location based on your target tenant profile, with furnished units commanding 20-30% premiums.

How profitable is Cartagena's short-term vacation rental market?

Cartagena's tourism boom makes short-term rentals highly profitable, particularly in prime tourist areas.

The Walled City, Bocagrande, and Getsemaní achieve the highest occupancy rates, often exceeding 70% annually. Well-managed properties in these areas can generate returns of 10-15% or higher. Peak season runs December through March, with strong demand also during Colombian holidays and summer months.

Tourists seeking Cartagena rentals include international visitors exploring colonial heritage, Colombian families on vacation, business travelers attending conferences, and increasingly, digital nomads seeking monthly stays. This diverse demand provides stability across seasons.

Management fees for vacation rentals typically run 20% of gross revenue, covering guest communication, cleaning, maintenance, and marketing. Some buildings and neighborhoods restrict short-term rentals, so verify regulations before purchasing.

Success requires professional photography, competitive pricing, prompt communication, and maintaining high standards. Properties with pools, ocean views, or historic character command premium rates.

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.

Sources

1. TheLatinvestor - Cartagena Area Guide
2. Realtor.com - Cartagena Real Estate
3. TheLatinvestor - Cartagena Price Forecasts
4. Le Figaro Properties - Luxury Real Estate Cartagena
5. Cartagena First American Realty - Buying Process
6. Wise - Buying Property in Colombia Guide
7. International Living - Cartagena Colombia
8. Expat Exchange - Living in Cartagena
9. Numbeo - Cost of Living Cartagena
10. AirDNA - Cartagena Vacation Rental Data