Buying real estate in Santa Marta?

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9 statistics for the Santa Marta real estate market in 2025

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

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What do the latest numbers reveal about Santa Marta’s real estate market? Are property prices on the rise, or are they stabilizing? Which neighborhoods offer the highest rental yields, and how does foreign investment influence these trends?

We’re constantly asked these questions because we’re deeply involved in this market. Through our work with developers, real estate agents, and clients who invest in Santa Marta, we’ve gained firsthand insights into these trends. Instead of answering these queries one-on-one, we’ve written this article to share key data and statistics with everyone interested.

Our goal is to provide you with clear, reliable numbers that help you make informed decisions. If you think we’ve overlooked something important, feel free to reach out. Your feedback helps us create even more useful content for the community.

How this content was created 🔎📝

At The Latinvestor, we study the Santa Marta 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 throughout the place. This hands-on approach allows us to gain a deep understanding of the market from the inside out.

When working on this content, we started by gathering insights from these conversations and our own observations. But we didn’t stop there. To make sure our statistics and data are reliable, we also dug into trusted sources like CEIC Data, Redfin, and Global Property Guide (among many others).

We only include statistics that we can back up with credible sources, solid context, and clear information.

If we can’t find enough supporting data or context, we leave them out. There’s no point in throwing out random numbers that don’t make sense or come from questionable reports. Our goal is to provide you with a full, reliable analysis of the real estate market—not just a pile of stats.

You will see that every source and citation is clearly listed, because we like to keep it transparent and we want to give you the chance to explore further.

We also use a bit of AI, but only during the writing phase. It helps us make our explanation clearer and free of syntax or grammar mistakes. We believe you prefer it this way, right?

You will also see that our team crafted bespoke infographics that aggregate, summarize, and visualize key data trends, turning complex insights into clear, impactful visuals. We hope you will like them! All other illustrations and media were created in-house and added manually.

If you think we could have done anything better, please let us know. You can always send a message. We answer in less than 24 hours.

1) Property prices in Santa Marta rose by about 3.5% in 2024

In 2024, property prices in Santa Marta rose by about 3.5%.

One big reason for this increase is the steady population growth in the area. As more people move to Santa Marta, the demand for housing naturally goes up, which often leads to higher property prices. This trend is particularly noticeable as the city becomes a more attractive place to live.

Santa Marta's charm as a tourist hotspot also plays a crucial role. The city’s popularity ensures a consistent stream of rental income for property investors. This makes real estate in Santa Marta more appealing, pushing prices higher. The economic growth, driven by tourism and its strategic location, further boosts property values.

Safety and stability are other key factors. Santa Marta is known for being relatively safe and stable compared to other parts of Colombia. This reputation makes it an appealing place for property investment, encouraging more people to buy, which in turn raises property prices.

Investors are drawn to the city not just for its beauty but also for its economic potential. The combination of tourism and a strategic location makes Santa Marta a promising place for real estate growth. This economic vitality is a magnet for those looking to invest in property.

All these elements together create a perfect storm for rising property prices. The mix of population growth, tourism, safety, and economic opportunity makes Santa Marta a hot spot for real estate investment.

Source: FazWaz

2) Rental yields in Santa Marta average between 5% and 7% annually

Santa Marta's real estate market is thriving, with rental yields averaging between 5% and 7% annually.

This growth is fueled by the city's allure as a tourist destination, drawing in visitors from both national and international locations. With its breathtaking beaches and majestic mountains, Santa Marta offers a unique blend of natural beauty and cultural richness.

The high demand for tourist accommodations has led to a surge in real estate investments, especially in short-term rental properties. Investors are particularly attracted to the stable and appealing rental yields that Santa Marta offers.

The constant flow of tourists ensures a steady demand for rentals, which in turn supports these yields. New residential and commercial projects are being developed to meet this growing demand, further boosting the market's potential.

Santa Marta's real estate market presents unique investment opportunities, with the potential for property values to appreciate over time. This makes it an attractive option for those seeking sustainable returns on their investments.

With the city's ongoing development and its appeal as a tourist hotspot, Santa Marta continues to be a promising location for real estate investors looking to capitalize on the city's booming market.

Source: Campos Saab

infographics rental yields citiesSanta Marta

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.

3) Rental property demand in Santa Marta is expected to increase by 8% in 2025

In 2025, the demand for rental properties in Santa Marta is expected to rise by 8%.

Santa Marta is becoming a favorite spot for eco-conscious buyers who are drawn to its commitment to sustainable projects and breathtaking natural beauty. This aligns with a global shift towards sustainable living, where people are increasingly looking for homes with green certifications like LEED or Passive House standards. The area's dedication to eco-friendly development is not just a trend but a lifestyle choice that resonates with many modern buyers.

The tourism industry in Santa Marta is another key factor driving rental demand. In 2023, Colombia welcomed nearly six million non-resident tourists, setting a new record. Santa Marta, with its stunning beaches and vibrant culture, is a top destination for many of these visitors. This influx naturally boosts the demand for rental properties, making it an attractive area for investors.

Property market trends in Santa Marta show growth due to its unique blend of natural beauty and sustainable living. The region's commitment to eco-friendly development is not just a passing trend but a lifestyle choice that resonates with many modern buyers. This makes it an exciting time for potential investors who are interested in a region that values sustainability and natural beauty.

Investors are particularly interested in Santa Marta because of its commitment to sustainable projects and the increasing number of tourists. The combination of these factors makes it a promising area for property investment. The demand for rental properties is expected to rise, driven by both eco-conscious buyers and the booming tourism industry.

With its stunning natural beauty and dedication to sustainability, Santa Marta is not just a place to visit but a place to invest. The region's focus on eco-friendly development and its appeal to tourists make it a prime location for those looking to invest in rental properties. The expected rise in demand for rentals is a testament to the area's growing popularity and potential for investment.

Sources: Properstar, FazWaz, The Latin Investor

4) A one-bedroom apartment in Santa Marta rents for about $600 monthly

The rental market in Santa Marta is quite diverse in 2023 and 2024.

Prices for apartments can vary widely, with costs ranging from approximately $1,400,000 to over $8,600,000 COP, depending on the apartment's type and location. This means you could find a cozy spot in a quieter neighborhood or a luxurious place with a sea view.

On average, the price per square meter is around $27,666 COP, which translates to about $8.50 USD per square meter. This gives you a sense of what to expect when budgeting for your new home.

While the average monthly rent for a one-bedroom apartment is estimated at around $600 USD, this might seem low compared to some listings. However, it's possible to find such deals in certain areas or under specific conditions, like opting for a longer lease or choosing a less central location.

Exploring different neighborhoods and understanding the local market can help you find a place that fits your budget and lifestyle. Whether you're looking for a bustling city vibe or a peaceful retreat, Santa Marta offers a range of options.

Sources: Properati, Puntopropiedad

5) Homeowners in Santa Marta spend about $2,000 annually on home improvements

In Santa Marta, inflation surged in 2023 and 2024, affecting daily life and financial decisions.

With the cost of living rising, homeowners faced higher expenses for essentials like housing, food, and utilities. This meant they had to carefully manage their budgets, often prioritizing home maintenance and improvements to maintain property value.

The construction cost index in Santa Marta showed fluctuating costs that hinted at a challenging financial climate for homeowners. While it didn't directly address home improvement costs, it painted a picture of the economic pressures at play.

Across Colombia, including Santa Marta, the housing market experienced a downturn with fewer new home sales and climbing interest rates. This scenario nudged many to enhance their current homes instead of buying new ones, making home improvements a strategic choice.

In Santa Marta, the average homeowner spends about $2,000 annually on home improvements. This investment reflects a commitment to maintaining and enhancing their living spaces amid economic challenges.

These financial dynamics are crucial for potential buyers to understand, as they highlight the importance of budgeting for ongoing home expenses in Santa Marta.

Sources: CEIC Data, The City Paper Bogota, Global Property Guide

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6) The average price of land per acre in Santa Marta is $50,000

The average price of land per acre in Santa Marta is currently $50,000.

In Santa Marta, the cost of land varies significantly by location. For instance, in upscale areas like Bellavista and Rodadero, prices range from $7 million to $12 million COP per square meter. This variation highlights how location and property type can greatly influence land value.

When it comes to apartments, prices in Santa Marta also show a wide range. They can go from $1.1 billion COP to $450 million COP, reflecting a diverse real estate market. This diversity caters to different buyer preferences and budgets, impacting the overall land value.

Santa Marta's appeal as a tourist hotspot and its strategic location have boosted property demand. This increased interest can drive up land prices as more people look to invest or relocate there.

These factors together help explain why the average price of land per acre is around $50,000, even if specific data on price per acre isn't readily available. The combination of location, property type, and market demand plays a crucial role in shaping these prices.

Sources: Sobrenatural Inmobiliaria, FazWaz

7) A penthouse in Santa Marta averages around $400,000

The average price of a penthouse in Santa Marta is around $400,000.

Santa Marta is a gem on Colombia's coast, known for its stunning sea and mountain views. This natural beauty, combined with a luxurious lifestyle, makes properties like penthouses highly sought after. Imagine waking up to the sound of waves and a panoramic view of the ocean; it's no wonder these homes come with a hefty price tag.

Take, for example, a penthouse in Cabo Tortuga. It boasts 336 square meters of space with direct views of both the sea and the mountains. Such features are not just about space; they offer an exclusive lifestyle that many dream of. While the exact price isn't listed, the luxury speaks for itself.

In Santa Marta, vacation rentals, including luxury apartments and penthouses, are known for their high rental prices. This trend suggests that owning a penthouse here is a significant investment, often valued in the hundreds of thousands of dollars. The allure of high-end living in such a picturesque location is undeniable.

While specific average prices for penthouses aren't always detailed, the consistent mention of high prices in the area supports the idea that these properties are indeed valued at premium rates. The combination of location, luxury, and lifestyle drives the market.

For those considering a purchase, understanding the market dynamics in Santa Marta is crucial. The blend of natural beauty and exclusivity makes it a unique place to own a property. Investing in a penthouse here is not just about the property itself; it's about embracing a lifestyle that few places can offer.

Sources: 360 Agencia Inmobiliaria, Airbnb

8) New residential developments in Santa Marta grew by 10% in 2024

In 2024, Santa Marta experienced a 10% increase in new residential developments.

This surge is largely due to the city's growing reputation as a prime spot for real estate investment. With its stunning location near the sea and the majestic Sierra Nevada mountains, Santa Marta is becoming a magnet for both local and international investors.

The city is buzzing with urban and tourist development, making it an attractive destination for those looking to invest. Its unique geographical features not only draw tourists but also entice potential residents who are looking for a picturesque place to call home.

Santa Marta's stable climate and strategic location are key factors in the rising demand for housing. This demand is fueled by the city's booming tourism and economic growth, which naturally leads to more residential projects being launched.

As more people flock to the area, the need for housing continues to grow, prompting developers to initiate new projects. The city's appeal is undeniable, with its blend of natural beauty and economic opportunity.

For anyone considering buying property in the country, Santa Marta offers a compelling mix of investment potential and lifestyle benefits. The city's ongoing development and strategic advantages make it a top choice for real estate enthusiasts.

Source: Proyectos Inmobiliarios

While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility.