Key takeaways
- Around Guatapé and El Peñol, apartment entry sits at about US$86,000, with a typical asking price near US$154,000.
- Long-term rentals in this market have produced 5 to 9 percent gross a year and short-term rentals 8 to 15 percent gross.
- Antioquia apartment entry is about US$91,000 against about US$86,000 in Guatapé and El Peñol, though the typical asking price diverges more: about US$192,000 across Antioquia versus about US$154,000 at the lake.
- Budget about 2 percent of the price in buyer closing costs: notary at 0.27 percent, registry at 0.67 percent and beneficencia at 1 percent, plus your lawyer's fee on top.
- For an apartment, the core documents are the certificate of tradition and freedom, requested with the property's registry number, which shows the registered owner plus any mortgages, liens and encumbrances, and the building's administration paperwork including fee status.
If you want rental income in Antioquia, the entry ticket differs by a factor of two depending on what you buy. An apartment in Guatapé or El Peñol starts at about US$86,000 and typically asks about US$154,000. Fincas start at about US$166,000. Long-term rentals have yielded 5 to 9 percent gross, short-term 8 to 15 percent.
Checklist · Before you sign a promesa
The 12 documents I check on every deal
Tick them off as you collect them. Saved on this device.
Superintendencia de Notariado y Registro, online; valid 30 days
The notaría where it was signed; ask for a certified copy
The municipality's tesorería or hacienda office
The building's or gated community's administración
From the seller; the RUT downloads from the DIAN site
Granted at a notaría, or at a consulate if the seller is abroad
Printed on the predial bill, or from the municipal catastro
In the deed and on the cadastral record
Latest paid bills from EPM or the local operator
Declared before the notary in the deed itself
Drafted by your lawyer or agent; never sign the seller's version unread
Curaduría urbana or the municipal planning office
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Where each document comes from
- Certificado de tradición y libertad: Superintendencia de Notariado y Registro, online; valid 30 days
- Prior deed: The notaría where it was signed; ask for a certified copy
- Property-tax good standing: The municipality's tesorería or hacienda office
- HOA good standing, if applicable: The building's or gated community's administración
- Seller's ID / RUT: From the seller; the RUT downloads from the DIAN site
- Power of attorney, if the seller is represented: Granted at a notaría, or at a consulate if the seller is abroad
- Cadastral appraisal: Printed on the predial bill, or from the municipal catastro
- Survey and boundaries: In the deed and on the cadastral record
- Utilities up to date: Latest paid bills from EPM or the local operator
- Family-home protection certificate: Declared before the notary in the deed itself
- Promesa de compraventa draft: Drafted by your lawyer or agent; never sign the seller's version unread
- Building permit, if applicable: Curaduría urbana or the municipal planning office
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What is the cheapest property type to buy for rental income near Guatapé?
The apartment, and not by a small margin. Around Guatapé and El Peñol, apartment entry sits at about US$86,000, with a typical asking price near US$154,000. Compare that to the alternatives in the same two municipalities:
- Apartment: from about US$86,000, typical about US$154,000
- Lot: from about US$124,000, typical about US$419,000
- Finca: from about US$166,000, typical about US$446,000
- Country house: from about US$181,000, typical about US$325,000
A lot produces no rent at all until you build, so for income purposes the real contest is apartment versus finca versus country house. The apartment is roughly half the entry cost of the finca and less than half the country house entry.
Does the cheapest entry price actually mean the best rental deal?
Not automatically. Yield is a ratio, so the numerator matters as much as the denominator. Long-term rentals in this market have produced 5 to 9 percent gross a year and short-term rentals 8 to 15 percent gross. A lakeside finca with room for a group commands nightly rates an apartment cannot, which is why a more expensive asset can still land in the upper half of that short-term range.
What the low entry price does buy you is a smaller amount of capital at risk and a shorter list of things that can go wrong. An apartment in a building has a managed common area, a functioning water connection and a security arrangement you did not have to create. A finca at US$166,000 may need a well, an access road agreement and a caretaker before it hosts a single guest. Those are costs that never appear in the asking price.
How does the Guatapé entry price compare to Antioquia as a whole?
Apartments are the one category where the department and the lake sit close together. Antioquia apartment entry is about US$91,000 against about US$86,000 in Guatapé and El Peñol, though the typical asking price diverges more: about US$192,000 across Antioquia versus about US$154,000 at the lake.
For land and country property the gap is wide. A country house starts at about US$393,000 across Antioquia and about US$181,000 in Guatapé and El Peñol. A finca starts at about US$263,000 department-wide against about US$166,000 at the lake. If your budget caps out below US$200,000 and you want something other than an apartment, the lake municipalities are where that budget still reaches a house with land.
What do I spend on top of the purchase price?
Budget about 2 percent of the price in buyer closing costs: notary at 0.27 percent, registry at 0.67 percent and beneficencia at 1 percent, plus your lawyer's fee on top. Annual property tax runs from 0.3 to 1.2 percent of cadastral value depending on the municipality, so confirm the rate in the specific municipality before you model anything.
On exit, capital gains are taxed at 15 percent when the property was held two years or more. Closing itself normally takes 30 to 45 days from agreed deal to registered deed.
On an apartment bought at about US$86,000, 2 percent in closing costs is a manageable number. On a US$446,000 finca it is not a rounding error, and the lawyer's fee scales with complexity: rural titles, easements and boundary descriptions take more hours than a horizontal property deed.
Which checks change depending on the type you pick?
For an apartment, the core documents are the certificate of tradition and freedom, requested with the property's registry number, which shows the registered owner plus any mortgages, liens and encumbrances, and the building's administration paperwork including fee status.
For a finca, a lot or a country house, you add land use. Each municipality's territorial plan determines whether a parcel allows country housing, subdivision, or agricultural use only. A cheap rural parcel that permits agriculture and nothing else cannot legally become a rental cabin, and no asking price discount compensates for that. Verify land use before you sign anything, not after.
Should I wait for road access to improve before buying?
There is no schedule that rewards waiting. The Devimed highway concession reverts on July 31, 2026, the financing trust is expected in 2027 and handover to Invías in 2028, which means any major works would not begin before late 2027. That is a long horizon for a buyer deciding between an US$86,000 apartment and a US$166,000 finca this year.
Appreciation in the area has historically run 7 to 8 percent a year. That is history and not a forecast, and it is not a substitute for checking that the asset you buy can legally do the job you bought it for. For the wider picture on what tenants pay across the country, see the full guide.
How we knowFigures as of October 13, 2026. Prices: active listings we verified ourselves; USD rate: TRM 3,194.44 COP per US$1, valid October 10, 2026 (Banco de la República, via datos.gov.co).
Frequently asked questions
What is the cheapest property type to buy for rent near Guatapé?
Apartments. In Guatapé and El Peñol an apartment starts at about US$86,000, with a typical asking price of about US$154,000. Fincas start at about US$166,000, country houses at about US$181,000 and lots at about US$124,000, though a lot generates no rent until you build.
How much rental yield do properties in this area produce?
Long-term rentals have yielded 5 to 9 percent gross a year and short-term rentals 8 to 15 percent gross. Those are gross figures, before property tax, administration fees, management and maintenance.
How much are closing costs when buying a rental property in Colombia?
About 2 percent of the price for the buyer: notary 0.27 percent, registry 0.67 percent and beneficencia 1 percent, plus your lawyer's fee. Closing normally takes 30 to 45 days once the deal is agreed.
Can I rent out any rural property I buy near Guatapé?
Not necessarily. Land use is set by each municipality's territorial plan, which determines whether a parcel allows country housing, subdivision, or agricultural use only. A parcel zoned for agriculture alone cannot legally operate as rental accommodation, so verify land use before signing.
Are apartments cheaper at the lake than elsewhere in Antioquia?
Slightly at entry level and clearly at the typical price. Antioquia apartment entry is about US$91,000 versus about US$86,000 in Guatapé and El Peñol, while typical asking prices are about US$192,000 across Antioquia and about US$154,000 at the lake.
What tax do I pay if I sell the rental later?
Capital gains are taxed at 15 percent when the property was held for two years or more. While you own it, annual property tax runs from 0.3 to 1.2 percent of cadastral value depending on the municipality.
