The real estate boom in Colombia is attracting more and more foreign real estate investors every day. The growth in the Colombian capital, Bogota DC, has been extraordinary. However, as with all markets, some locations in the city performed better than others. In addition, foreign investment in Bogota real estate has mainly focused on 7 high profile neighborhoods in Bogota that are yielding the best results.
Below we will list the 7 most attractive neighborhoods in Bogota for real estate investors. But let’s first see how the city of Bogota is actually divided. Bogota has 2 types of divisions: Localities and Neighborhoods. Settlements are large areas with many neighborhoods within them. Kind of like Burrows in New York but a bit smaller.
Bogota Colombia is divided into 20 localities (Localidades), each with many neighborhoods:
- Antonio Narino
- United neighborhoods
- City of Bolivar
- Aranda Bridge
- rafael uribe
- San Cristobal
- Santa Fe
- Use it
- use me
Where to invest in Bogotá?
There really isn’t a single best answer. However, based on current growth and demand, the neighborhoods below seem like strong candidates. For foreign real estate investors, mainly from the United States and Europe, the 7 most attractive and profitable neighborhoods in Bogota Colombia at the moment seem to be:
- Boy, (Chapinero)
- Cabrera (Chapinero)
- Rosales (Chapinero)
- Santa Barbara (Usaquen)
- Saint Lucia (Usaquen)
- Santa Ana (Usaquen)
- Chapinero Alto, (Chapinero)
It is interesting to note that these 7 neighborhoods only come from 2 localities of Bogota; Chapinero and Usaquen. These two localities are in the northeastern part of the city where most of the wealthy citizens of the country live. Profitable real estate opportunities in Bogota are abundant in these neighborhoods and construction is very prolific.
A possible explanation of why investments in these places have a greater demand
These are uptown neighborhoods where housing is a bit more expensive than the rest of Bogota but property values tend to rise faster. Rental costs are also higher and will therefore bring better passive income streams to those who decide to go this route.
What about real estate in other localities and neighborhoods?
Of course, there are also many other opportunities in different neighborhoods, such as Cabrera and Candelaria (these are 2 very popular tourist spots in Bogota), but these places mainly attract young adventurers. House prices have also risen in these areas, but not as rapidly as in more elite neighborhoods such as the 7 mentioned above.
Commercial real estate opportunities in the 7 neighborhoods mentioned above are also abundant. Foreign and multinational companies are rapidly migrating to these neighborhoods in northeast Bogota.
“Before, downtown Bogota was the ideal place to find international companies and multinationals, but that has changed,” says Fabio Rodriguez, social media strategist in the Bogota Colombia office of VivaReal.net, which helps to manage much of the corporate real estate inventory in Bogotá and states that “…more and more companies are considering the North as the best place to have offices”.