How to buy property in Cartagena as a foreigner?

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?

THE LATINVESTOR

A team specialized in real estate investing in LATAM countries

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 Cartagena. If you'd like to learn more about us, you can check our presentation page.

How this content was created 🔎📝

At The LatinVestor, we explore the Colombian real estate market every day. Our team doesn't just analyze data from a distance—we're actively engaging with local realtors, investors, and property managers in cities like Cartagena, Bogotá, and Medellín. This hands-on approach allows us to gain a deep understanding of the market from the inside out.

These observations are originally based on what we've learned through these conversations and our observations. But it was not enough. To back them up, we also needed to rely on trusted resources

We prioritize accuracy and authority. Trends lacking solid data or expert validation were excluded.

Trustworthiness is central to our work. Every source and citation is clearly listed, ensuring transparency. A writing AI-powered tool was used solely to refine readability and engagement.

To make the information accessible, our team designed custom infographics that clarify key points. We hope you will like them! All illustrations and media were created in-house and added manually.

Can foreigners buy property in Cartagena in the same way locals can, or are there restrictions based on nationality?

Foreigners can buy property in Cartagena with exactly the same rights as Colombian citizens.

Colombian law treats foreign buyers and local buyers equally for most property transactions. There are no nationality-based restrictions or additional requirements for foreign buyers in the vast majority of cases.

The only exceptions apply to certain restricted border zones or specially protected areas, which rarely affect typical residential or commercial property purchases in Cartagena's main neighborhoods. Foreign nationals have full ownership rights, including the ability to buy, sell, rent, and transfer property without any discrimination based on their citizenship.

This equal treatment extends to all property types relevant to most buyers - apartments, houses, commercial spaces, and land parcels in Cartagena's residential and tourist areas.

As of September 2025, Colombia maintains one of the most foreigner-friendly property ownership frameworks in Latin America.

Do I need a specific visa or residency status before I can legally purchase property in Cartagena?

You do not need any specific visa or Colombian residency status to buy property in Cartagena.

Property ownership does not require legal residency in Colombia, and you can purchase real estate on a tourist visa or even while living abroad. The Colombian government separates property ownership rights from immigration status, making real estate accessible to international buyers regardless of their residency situation.

However, purchasing qualifying real estate can make you eligible to apply for certain Colombian visas. Properties valued above specific thresholds (currently equivalent to several hundred minimum monthly salaries, approximately $150,000 USD as of September 2025) can qualify you for Migrant or Resident visa applications, though the property purchase itself doesn't automatically grant residency.

The visa-through-investment pathway requires additional documentation and approval processes beyond the property purchase. Most foreign buyers complete their real estate transactions first, then separately pursue visa applications if desired.

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

Is it mandatory to be physically present in Colombia to complete the property purchase process, or can it be done remotely?

Physical presence is not mandatory for the entire property purchase process, but certain steps require either your presence or proper legal representation.

Many initial steps can be completed remotely, including property searches, price negotiations, preliminary agreements, and due diligence processes. Modern technology allows virtual property tours, document reviews, and communication with agents and lawyers from anywhere in the world.

However, signing the public deed (escritura pública) at a Colombian notary typically requires either your physical presence or granting a power of attorney to your legal representative in Colombia. The notarization process is crucial for official property transfer and registration.

If you cannot travel to Colombia for closing, you must prepare a properly executed power of attorney, authenticated by a Colombian consulate in your home country. This document allows your Colombian lawyer to sign the deed and complete the transaction on your behalf. Many foreign buyers successfully complete purchases this way, though it requires careful coordination with qualified legal representation.

Fund transfers also require proper documentation to comply with Colombian foreign exchange regulations, regardless of whether you're present for the closing.

What are the exact steps to buy property in Cartagena as a foreigner, and which documents will I need at each stage?

The property purchase process in Cartagena follows eight main steps, each requiring specific documentation.

Step	Process	Required Documents
1. Property Search	Engage agent and lawyer, inspect properties	Passport, initial property listings
2. Due Diligence	Title search and legal verification	Property title deed, cadastral certificates
3. Offer & Negotiation	Submit formal offer through representation	Preliminary purchase agreement, identification
4. Legal Documentation	Obtain Colombian tax ID and legal standing	NIT or cédula de extranjería, apostilled documents
5. Fund Transfer	Wire money through registered channels	Bank transfer proof, foreign exchange documentation
6. Public Deed Signing	Official notarization of purchase	All previous docs, notary-ready deed, full payment proof
7. Property Registration	Register ownership at land registry	Signed deed, registration forms, tax payments
8. Final Transfer	Utilities, services, final settlements	Utility transfer forms, final payment confirmations

Do I legally need to hire a lawyer for the purchase, and what should I look for in a trustworthy local real estate attorney?

Hiring a lawyer is not legally mandatory in Colombia, but it is strongly recommended for all foreign property buyers.

A qualified real estate lawyer protects your interests by ensuring proper title verification, compliance with Colombian laws, documentation of money transfers, and coordination of the public notary process. They also help obtain your Colombian tax identification (NIT) and navigate foreign exchange regulations that affect international property purchases.

When selecting a real estate attorney in Cartagena, look for these key qualifications: experience with foreign clients and international transactions, English proficiency for clear communication, transparent fee structures, positive reviews from previous foreign buyers, and specialization in real estate law rather than general practice.

Reputable lawyers should provide clear written agreements outlining their services and fees, typically ranging from 1-3% of the property value. They should also have established relationships with reliable notaries, translators, and other professionals needed for your transaction.

Avoid lawyers who promise unusually fast transactions, request upfront payments for the entire process, or cannot provide verifiable references from recent foreign clients.

What taxes, fees, and extra costs should I expect when buying and later reselling a property in Cartagena?

Property transactions in Cartagena involve several mandatory taxes and fees that typically total 3-5% of the purchase price.

During purchase, expect notary and public registration fees of approximately 1.5-3% of the transaction value, legal and agent fees typically ranging 1-3% of property value (negotiable), and transfer tax (Impuesto de Registro) of around 1% of the declared value.

Ongoing ownership costs include annual property tax (predial) varying by municipality and property value, with Cartagena charging 0.3-1% annually based on the cadastral value. Additional costs may include utility transfer fees, bank charges for international transfers, property appraisal fees, and document translation and certification services.

When reselling, Colombia imposes a 10% capital gains tax on the profit from properties sold within two years of purchase. Properties held longer than two years are taxed as ordinary income, with rates depending on the total gain and your tax status in Colombia.

Other resale costs include new notary fees, agent commissions (typically 3-5%), and updated legal documentation. It's something we develop in our Colombia property pack.

Are mortgages actually available to foreigners in Colombia, and if so, what are the typical rates, conditions, and best tips to secure one?

Mortgages are available to foreigners in Colombia, but they are significantly more difficult to obtain than for Colombian residents.

Colombian banks require extensive documentation from foreign applicants, including international credit reports, proof of stable income, employment verification, and often substantial down payments of 30-50% of the property value. Interest rates for foreigners are typically higher than local rates, and loans are generally issued in Colombian pesos, creating currency exchange risk for buyers earning income in other currencies.

As of September 2025, mortgage rates for foreigners range from 12-18% annually, compared to 8-14% for Colombian residents. Loan terms usually span 10-20 years, with some banks requiring Colombian co-signers or additional collateral.

International lenders sometimes offer Colombian property mortgages but typically at premium rates. Many foreign buyers find it more practical to purchase properties with cash, either from savings, home country property sales, or alternative financing arrangements in their country of residence.

The most successful foreign mortgage applicants establish banking relationships in Colombia before applying, maintain significant Colombian peso savings accounts, and work with mortgage brokers experienced in foreign client applications.

What are the most popular areas in Cartagena where foreigners like to settle, and how do they differ in terms of lifestyle, safety, and amenities?

Foreigners in Cartagena gravitate toward five main areas, each offering distinct lifestyle advantages and investment characteristics.

1. **Centro Histórico (Old Town)** features colonial architecture, luxury accommodations, and premium dining, making it ideal for high-end vacation rentals but expensive for permanent residence.2. **Getsemaní** offers vibrant nightlife, boutique hotels, artistic culture, and strong tourism appeal, perfect for short-term rental investors and culturally-minded residents.3. **Bocagrande** provides modern beachfront condominiums, shopping centers, international restaurants, and expat-friendly amenities, making it popular for long-term foreign residents seeking convenience.4. **Manga** delivers quieter residential living, family-friendly environments, good value for money, and easy access to both Old Town and modern areas, appealing to families and budget-conscious buyers.5. **La Boquilla/Morros** presents luxury beachfront properties, newer developments, resort-style amenities, but requires transportation to reach Cartagena's main attractions.

Safety levels vary, with Bocagrande and Manga generally considered safest for families, while Centro Histórico and Getsemaní require normal urban precautions due to higher tourist activity and nightlife.

Which neighborhoods offer the best potential for rental income, high occupancy rates, and capital appreciation based on the latest tourism data, liveability scores, and growth forecasts?

Centro Histórico, Bocagrande, and Getsemaní deliver the strongest rental income potential, with gross annual yields reaching 5-8% in prime locations.

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.

Tourism data shows Cartagena receives over 2 million international visitors annually, with Centro Histórico and adjacent areas capturing the highest demand for short-term accommodations. Occupancy rates in these areas exceed 70% year-round, with peak seasons reaching 90-95% occupancy.

For capital appreciation, Manga, El Laguito, and Marbella show strong growth prospects due to ongoing infrastructure improvements and increasing demand from both locals and foreigners seeking alternatives to expensive Old Town properties. These areas benefit from Cartagena's expanding tourism infrastructure while maintaining more accessible entry prices.

Bocagrande offers balanced potential, combining solid rental yields with steady appreciation driven by its appeal to both tourists and long-term residents. The area's beachfront location and modern amenities support consistent demand across different market segments.

Investment strategies should align with personal goals: Centro Histórico for maximum rental income, Manga for appreciation potential, and Bocagrande for balanced returns and lower management complexity.

What is the current breakdown of property prices in Cartagena by neighborhood and how do they compare with other Colombian cities?

Cartagena commands Colombia's highest real estate prices, particularly in its historic and coastal areas.

Cartagena Neighborhood	Price Range (USD/m²)	Property Type
Centro Histórico	$3,000-$6,000	Colonial houses, luxury apartments
Getsemaní	$2,500-$5,000	Boutique properties, renovated buildings
Bocagrande	$2,000-$4,000	High-rise condos, ocean views
Manga/Marbella	$1,500-$3,000	Residential properties, family homes
Crespo/Airport Area	$1,200-$2,500	Modern developments, practical locations
La Boquilla	$2,000-$4,500	Beachfront properties, luxury developments

Compared to other major Colombian cities, Cartagena's premium positioning is clear. Medellín's El Poblado ranges $1,500-$3,000/m², Bogotá's Chapinero spans $2,000-$4,000/m², while Cali's premium areas typically cost $1,000-$2,500/m².

Cartagena's price premium reflects its status as Colombia's top international tourism destination, UNESCO World Heritage site designation, and limited supply of historic properties. The coastal location and international appeal drive prices significantly above inland Colombian cities, even those with larger populations or stronger economies.

What are the most common mistakes and pitfalls foreigners face when buying property in Cartagena, and how can I avoid them?

Foreign buyers frequently encounter seven major pitfalls that can be avoided with proper preparation and professional guidance.

1. **Title verification failures** occur when buyers don't properly verify clean property titles or discover hidden encumbrances after purchase.2. **Language barriers** lead to signing contracts in Spanish without proper translation or understanding of terms and conditions.3. **Foreign exchange violations** happen when buyers wire funds without complying with Colombian currency regulations, potentially causing legal complications.4. **Overpaying in tourist areas** results from purchasing during high-season or in overpriced tourist locations without proper market analysis.5. **Documentation problems** arise from incomplete property registration or missing required documentation for legal ownership transfer.6. **Legal boundary disputes** emerge from unclear property boundaries or documentation issues not discovered during due diligence.7. **Direct transaction risks** occur when buyers attempt remote transactions with private sellers without proper legal representation.

The best defense against these pitfalls involves hiring qualified local lawyers, insisting on professional document translation, conducting thorough due diligence, and avoiding direct transactions without legal oversight. Always verify all documentation independently and ensure proper compliance with Colombian foreign exchange regulations.

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

What are the fiscal implications of owning property in Cartagena as a foreigner, including ongoing taxes, rental income taxation, and any double-taxation agreements?

Property ownership in Cartagena creates several ongoing tax obligations that vary based on your residency status and income sources.

Annual property taxes include municipal predial tax ranging 0.3-1% of the property's cadastral value, calculated and collected by Cartagena's municipal government. This tax supports local infrastructure and services, with payments typically due in quarterly installments throughout the year.

Rental income taxation depends on your Colombian tax residency status. Non-residents pay Colombian taxes only on Colombian-source income, including rental profits, while residents must report worldwide income. Rental income is typically taxed at progressive rates ranging from 19-39%, with allowable deductions for property management expenses, maintenance costs, and depreciation.

Capital gains from property sales are taxed at 10% for properties held less than two years, while longer-term holdings are taxed as ordinary income at progressive rates. The tax calculation is based on the profit (sale price minus purchase price and documented improvements), not the total sale amount.

Colombia maintains double-taxation treaties with several countries, including the United States, Canada, Spain, and others, which can help reduce overall tax burdens for qualifying taxpayers. However, you may still owe taxes in your home country depending on local laws and reporting requirements.

Cross-border tax planning requires coordination with qualified tax professionals in both Colombia and your home country to optimize your tax structure and ensure compliance with all applicable regulations.

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 - Colombia Real Estate for Foreigners
2. Colombia Law Connection - Buying Property Guide
3. Global Property Guide - Colombia Buying Guide
4. SRIS Lawyer - Real Estate for Foreigners
5. Adam Fayed - Property Buying Guide Colombia
6. Cartagena Realty - Resident Visa Information
7. Wise - Buying Property in Colombia
8. Remitly - Property Purchase in Colombia