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New Market For Brits?

About 190,000 Britons emigrated form the UK last year and many many more purchased second homes abroad for holidays or investments. Prices are rising fast in Spain, France and eastern Europe. There are few if any bargains available. With the availability of cheap flights and the desire for the exotic means that Brits are travelling further afield. The Caribbean , South America and Central America are becoming increasingly popular and accessible. For this reason more people are investing in Colombia, and particularly the Caribbean jewel that is Cartagena.

Cartagena de Indias, a UNESCO world heritage site, is one of those hidden gems. Few Brits are aware of this beautiful and historic Caribbean city, however for years Americans have been visiting but it still remains a well kept secret. The colonial architecture and beauty easily overshadows Cuba's Havana.

Cartagena is a a popular tourist location with a typical Caribbean climate and temperatures of around 30° C.

The real estate market is particularly strong in Cartagena as it is underpinned by both national and international tourism.

It is probably the safest city in Colombia, even US President Bush has visited.

The Colombian economy is growing and is likely and are expected to leap forward once the internal conflict is resolved.

The Colombian government protects property rights and is the oldest democracy in South America.

Lush Lakeside complex - Brand new 1,2,3 bed apartment3, A/C, 836 ftsq+. from £39,000. Ref 221

Club house & spa
Tennis courts
Gated community overlooking lake

COLOMBIAN/AMERICANS RETURNING TO COLOMBIA:

Many Colombian buyers are recent retiree's in the U.S. They are moving back to Colombia for a more stable and financially comfortable retirement. Rising and unpredictable stateside expenses relating to: medical, insurance and taxes, plus of course being closer to family and the more relaxed Hispanic culture, are their reasons for “coming home”.

RETURN VISITS PROVIDE THE CLUE TO THE RECENT MARKET ACTIVITY:

Colombians living in the U.S. routinely return to Colombia for dental and medical treatment. Many procedures, are equal in quality to those found in the states. Savings of 60-70% of U.S. Costs, often pays for the trip. The frequency of their visits provides clues, making it easier for them to recognize positive activity and big changes. While we who enjoy Cartagena on a full time basis, often fail to notice the smaller day-to-day changes.

MARKET HEATING UP - STILL A BUYER'S MARKET!

COLOMBIA LAW IS ON YOUR SIDE!

Under Colombia law , your right to: Buy, Own, Record, Sell, Rent, etc. real estate, and return the sale proceeds to your country of origin, is the same as if you were a Citizen of Colombia!

Colombia is the longest established democracy in South America, and boasts the second airline formed in the world.

In many ways, we are considered very progressive, and in others, our old colonial culture and charm are features of life, that many move here to savour and enjoy.

Can a foreign citizen buy property in Colombia?
Answer: Yes, no problem. Any non Colombian citizen can buy and own real estate in Colombia. The state will protect your private property rights.

NEW LAW: Now it is even easier for foreign citizens to buy property in Colombia!

The old law required foreign citizens to have a Colombia Cedula (ID), or have someone with a Cedula, to act as their officious (official) agent, when signing the scripture (Deed). This Law was recently repealed. The new Law makes it even easier to purchase real estate in Colombia. Under the new Law, Buyers will feel more comfortable when signing their Deed themselves.

CARTAGENA SALES ARE UP!

Traditionally, real estate sales movement, up or down, is led by domestic markets, followed by buyers from other countries. Colombia is no exception. During the first quarter of 2004, Cartagena experienced a steady increase in housing and apartment sales. The buyers are Colombians from within the country, and secondly, Colombians living principally in the U.S. And Europe. The third segment of our buyer's market are retirees from Europe and North America. Many are seeking a partner or marriage relationship with a Colombian woman. Others are strapped economically, and want to improve their lifestyle. If a retiree already owns a Cartagena apartment, a $600-$800 total monthly income can provide a very comfortable (ring the bell for the maid?) living.

For further information please contact:

stephen@realcolombia.co.uk

Excellent value 3 bed 2 bath apartment in Tourist Zone £67500* Ref 222

Great apartment with bay views - 2 bed 3 bath, LR, DR, laundry area, balcony1396 sq ft, Ref 220 about £48,000

Located in the residential zone with views to the historic Fort at San Felipe. 2 bed room, 1 bath, plus maids quarters, 882 sq ft. Price approx. £20,500*. Ref: 192

Very large apartment in tourist zone of Bocagrande - 2126sq ft, 3 beds, 2.5 baths, LR, DR, maids quarters, & den. Ref 218 £78,000 approx*

Brand new apartment fronting Caribbean, under construction. 1 bedroom starting from £44,000 approx for 762 sq ft. Ref 216 SOLD

*Prices quoted in £ are appromimate and based on currency conversion rate at time of publication. Sales prices are usually quoted in Colombian pesos (COP) or US dollars.

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