The real estate boom in Colombia is definitely attracting more and more foreign real estate investors every day. Growth in Colombia’s capital city, Bogota D.C. has been extraordinary. However, as in all markets some locations within the city have been performing better than others. Furthermore, foreign investment in Bogota Real Estate has been mainly focusing on 7 high profile Bogota neighborhoods which are yielding the best results.
Below, we will list the 7 most attractive Bogota neighborhoods for real estate investors. But first let’s go over how the city of Bogota is actually divided. Bogota has 2 types of divisions: Localities and Neighborhoods. Localities are large sectors that have many neighborhoods within them. Sort of like Burrows in New York City but a bit smaller.
Bogota Colombia is broken up into 20 Localities (Localidades), each having many neighborhoods:
- Antonio Narino
- Barrios Unidos
- Ciudad Bólivar
- Puente Aranda
- Rafael Uribe
- San Cristobal
- Santa Fe
Where should I Invest in Bogota?
There is actually no, one best answer. However based on current growth and demand the neighborhoods below seem to be great candidates. For foreign real estate investors, coming mainly from the US and Europe, the 7 most attractive and profitable Bogota Colombia Neighborhoods right now, seem to be:
- Chico, (Chapinero)
- Cabrera (Chapinero)
- Rosales (Chapinero)
- Santa Barbara (Usaquén)
- Santa Lucia (Usaquen)
- Santa Ana (Usaquen)
- Chapinero Alto, (Chapinero)
It’s interesting to note that these 7 neighborhoods are only coming from 2 Bogota localities; Chapinero and Usaquen. Both of these localities are in the North Eastern part of the city where most of the country’s wealthy citizens live. Profitable Bogota real estate opportunities are abundant in these neighborhoods and construction is very prolific.
A Possible Explanation as to Why Investments in These Locations Have Greater Demand
These are exclusive neighborhoods where housing is a bit more expensive than in the rest of Bogota but the value of the properties tends to increase more rapidly. Rent costs are also higher and will therefore bring in better passive income streams to those who decide to go that 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 being 2 very popular tourist spots in Bogota) however these places mostly attract the younger adventurous type of crowd. Home prices have risen in these areas as well but not as fast as they have in more elite neighborhoods such as the 7 mentioned above.
Commercial real estate opportunities in the 7 neighborhoods mentioned above are also abundant. Foreign company’s and multinational firms are rapidly migrating to these northeastern neighborhoods in Bogota.
“It used to be that Downtown Bogota was the place to find international firms and multinational companies but that has changed” says Fabio Rodriguez, Social Media Strategist at VivaReal.net’s Bogota Colombia office, who helps manage a lot of the firms Real Estate inventory in Bogota and affirms that “…more and more companies are thinking of the North as the best place to have office space.”