Colombian Real Estate: A Hidden Investment Gem or a Risky Bet?
Colombia is consistently among the top-ranked Latin American countries for economic potential and investment opportunities. In the 2023 Index of Economic Freedom by The Heritage Foundation, Colombia ranked fourth in South America—behind Chile, Uruguay, and Peru—positioning itself as one of the freest economies in a region often seen as challenging for business. But does this economic standing translate into a solid real estate investment opportunity?
The Investment Perspective
Looking at Colombia from a macroeconomic standpoint, it presents both risks and opportunities:
• If the commodities market experiences a bull run, the influx of capital could stabilize economic concerns in the short to medium term.
• While some investors might hesitate to go “overweight” in this market, Colombia offers an interesting diversification opportunity, especially for those seeking alternatives to Western, Middle Eastern, and Asian geopolitical uncertainties.
For those looking to live in Colombia, buying an apartment often makes more sense than renting, especially for those who prefer to own their homes. Bogotá and Medellín, in particular, are popular among expatriates and single professionals.
If you’re considering purchasing property as a vacation home or an investment and need guidance, I’m here to help!
Aging Population in Greece: How Does It Impact the Real Estate Market?
Demographic trends in Greece are clear—an aging population, a low birth rate, and the emigration of younger generations are reshaping the country’s economy and social life. But how does this affect real estate investments? Is it worth buying properties for short- or long-term rental in Greece?
Here are the key aspects to consider:
• Risks and Opportunities for the Future:
As the local population ages, the demand for long-term rentals from Greek nationals may decrease in the future. However, this could be offset by an influx of foreign retirees and digital nomads seeking a Mediterranean lifestyle.
• The Strength of Greek Tourism:
Despite demographic challenges, Greece remains one of the world’s top tourist destinations. Short-term rentals, especially in places like Athens, Crete, or the Cyclades islands, can still generate significant income, particularly with platforms like Airbnb.
Summary:
Investing in real estate in Greece can be profitable if approached strategically. Coastal properties, those in tourist regions, or homes tailored to retirees offer promising opportunities. However, it’s important to consider potential market shifts due to the aging population and account for income tax in the case of short-term rentals.
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Are you considering renting out your property for tourism in Croatia? It’s important to understand the bureaucratic requirements to ensure a smooth and legal process. Here’s a comprehensive guide to help you navigate through the necessary steps:
1. Register in the eVisitor System – To legally rent out your property for short-term stays, you must register it in the eVisitor system, which is a requirement for all tourist accommodations in Croatia.
2. Tourist Tax – You must pay a tourist tax, which is 10% of the income earned from the accommodation service.
3. Income Tax – If you plan to rent your property on a long-term basis, you will also need to pay income tax on the earnings from the rental service.
4. Register Your Business – If you plan to operate the rental as an independent entrepreneur, you must register your business in Croatia. This can be done online or in person at the local business registration office.
5. Rental Agreement – Ensure you have a rental agreement that complies with Croatian law, outlining the terms and conditions of the rental.
6. Property Tax -You are required to pay a property tax, which is approximately 3€ per square meter.
By meeting these requirements, you can legally operate a rental business in Croatia and provide tourists with a memorable stay in your property.
Sources: Croatian Chamber of Commerce,
Ministry of Tourism and Sports of the Republic of Croatia.
If you need more information or further assistance, feel free to reach out!
Budapest, the capital and largest city of Hungary, is home to 1.7 million people, representing about 5% of the country’s population. The city is divided into 23 districts, typically designated by Roman or Arabic numerals, each with its own unique name. The historical center of Budapest lies within the Great Boulevard, encompassing District I on the western side of the city, and Districts V, VI, and VII on the eastern side.
District XIII stands out for its number of resale and new real estate transactions. Its popularity stems from having the most apartments in the city at relatively low prices. The district ranks 11th for average transaction value in Budapest. Additionally, buyers are drawn to District XIII due to its proximity to the historical center and well-developed infrastructure, including parks, bike paths, shops, and cafes.
Below, you’ll find information about short-term rental opportunities (e.g., Airbnb) in Budapest’s most popular districts. Hiring a professional to handle buyer services and structuring offers to secure Airbnb licenses before finalizing deposits or ensuring deposits can be refunded if licenses aren’t granted is highly recommended.
– District V (Belváros-Lipótváros): A central district with numerous tourist attractions. It is very crowded for residential investments. Obtaining an Airbnb license is nearly impossible, as only 5% of apartments in each building can be licensed for Airbnb. Specific obligations include providing an NTAK registration number and host contact information.
– District VI (Terézváros): A popular area among tourists. Starting January 1, 2026, a complete ban on short-term rentals will be enforced following a residents’ referendum.
– District VII (Erzsébetváros): Known for its nightlife and Jewish heritage. There are currently no specific restrictions, but the area is very noisy and busy, turning into a highly touristic zone. It’s overpriced, and many visitors come for bachelor parties or events, which may affect the condition of your apartment. An Airbnb license is permitted only if the building allows short-term rentals.
– District VIII (Józsefváros): A diverse area with no specific short-term rental restrictions.
– District IX (Ferencváros): A rapidly developing district with no specific short-term rental restrictions.
– District X (Kőbánya): An industrial and residential part of the city with no specific short-term rental restrictions.
Regarding the remaining districts of Budapest, there are no specific short-term rental restrictions, but Hungarian authorities are considering nationwide regulations, such as a moratorium on new licenses. It’s crucial to hire someone who can assist with the purchase to ensure you can legally rent your apartment short-term.
Additional costs when purchasing usually do not exceed 10% of the contract price and include taxes, mandatory fees, and costs for legal support of the transaction.
If you’re considering buying property and need assistance with purchasing an apartment in Budapest, please contact us at:
