Not everyone dreams about living or investing in a tiny, tropical beach town. You may appreciate the modern conveniences and familiarity offered by city properties. Often, a city property can provide the best return on your investment, especially in tourist areas where you can focus on higher-yield, short-term rental opportunities.
If you are considering investing in a city property, you have many options in location and style. Paris, Barcelona, and Lisbon are a few European gems worth investigating, while the Americas offer bustling locations like Panama City, Medellín, and Quito.
City properties come in all shapes and sizes. You might consider investing in a Spanish-colonial city that features traditional hacienda-style homes with interior courtyards and bubbling fountains surrounded by adobe-walled living and sleeping spaces. Or you may decide to buy a chic high-rise apartment with a pool and gym that will draw international visitors.
If you are considering a city property for personal living, don’t be intimidated by the size of the city as a whole. Most bigger cities are organized into smaller neighborhoods where you will pass neighbors on the sidewalk and find a favorite local pub or park to pass the time with new friends. Many cities have large expat communities where you are sure to find other like-minded folks who have taken the plunge and invested in a city property.
Short-term renters flock to city properties for the many activities and options offered in bigger communities.
Finding a city property can be challenging because most countries do not offer a Multiple Listing Service that shows all of the properties on the current market. Instead, you’re better off working with several local real estate agents to find the perfect city property for you.
Last week Liz Larroquette updated you on all the latest from the property scene in Panama City. (If you missed it, you can catch up here.) This week we move a little farther south… Former Overseas Property Alert Editor—and full-time resident of Medellín, Colombia, for the past six years—Wendy Howarter reports below on the big opportunities on offer […]
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