What a Rental Property Costs to Own in Guatapé and El Peñol

A landlord in Guatapé or El Peñol needs an apartment of about US$90,000 at the low end, or around US$160,000 for a typical one, and that unit has to produce 5 to 9 percent gross a year on a long-term lease, or 8 to 15 percent gross on short stays, to be worth owning. Rent is the output. The asset price and the annual costs are the inputs, and those are what you can actually check before you sign.

Most "how much is rent in Colombia" answers stop at the tenant's side of the question, which the full guide covers city by city. The more useful question for anyone thinking about buying is the reverse: what does a rental unit cost to acquire and hold here, and what does the rent have to clear?

What do you have to spend to collect rent in Guatapé or El Peñol?

Entry prices by property type, in the lake towns and across Antioquia:

The apartment is the cheapest way into the rental market in both markets, and it is the only type where the lake towns sit below the departmental typical price. A country house in Guatapé or El Peñol typically asks about US$338K against roughly US$880K for Antioquia as a whole, which is the single widest gap in the table.

Lots do not produce rent at all. They produce a build decision, and what you are allowed to build is set by the municipality's territorial plan, which determines whether a parcel permits country housing, subdivision, or agricultural use only. Check that before you treat a lot as a future rental.

What comes off the top before you see the yield?

Three recurring and one-time costs, none of them optional:

1. Closing costs: about 2 percent of the purchase price for the buyer. That breaks down as notary 0.27 percent, registry 0.67 percent and beneficencia 1 percent, plus your lawyer's fee on top.
2. Annual property tax: 0.3 to 1.2 percent of the cadastral value, and the rate depends entirely on which municipality the property sits in. Ask for the current predial receipt, not an estimate.
3. Capital gains on exit: 15 percent when the property was held for two years or more.

Those gross yield ranges, 5 to 9 percent long-term and 8 to 15 percent short-term, are before predial, before administration fees in a building, before management, and before vacancy. The short-term range is wider for a reason: it rewards a lakefront or walkable location and punishes anything that needs a car and a map to find.

Appreciation in the area has historically run 7 to 8 percent a year. That is what happened, not a promise about what will happen, and it should never be the line that makes a marginal rental deal work on paper.

How do you verify a rental unit before you commit?

Start with the certificate of tradition and freedom, requested using the property's registry number. It shows the registered owner, any mortgages, liens and encumbrances. If the seller's name is not on it, nothing else in the file matters yet.

Then, in this order:

• The territorial plan classification for the parcel or the building's lot, especially outside the urban core.
• The current predial receipt, to confirm the cadastral value and that nothing is owed.
• For an apartment, the administration fee and the building's rules on short stays. Many buildings restrict nightly rental outright, which converts an 8 to 15 percent assumption into a 5 to 9 percent one overnight.
• Utilities and internet service at the actual address, not at the entrance to the development.

Closing normally takes 30 to 45 days once the deal is agreed. Build that into any plan that depends on having the unit listed for a particular season.

Does the Devimed road change the rental case?

Not yet, and not on a timeline you should underwrite today. The Devimed highway concession reverts on July 31, 2026. The financing trust is expected in 2027 and handover to Invías in 2028, which means major works would not begin before late 2027. Access to Guatapé and El Peñol today is what it is today. Buy a rental on the rent it can collect now, on the price in the table above, and on what the certificate of tradition and the territorial plan say about the specific parcel. Anything a road might do later is upside you did not pay for.

How we knowFigures as of November 5, 2026. Prices: active listings we verified ourselves; USD rate: TRM 3,221.19 COP per US$1, valid November 5, 2026 (Banco de la República, via datos.gov.co).

Frequently asked questions

What is the cheapest property type to buy as a rental near Guatapé?

An apartment. It starts at about US$90,000 in Guatapé and El Peñol, with a typical asking price near US$160,000. Country houses start around US$189,000 and fincas around US$239,000, and lots produce no rent at all until something is built on them.

What yield can a rental property produce in this area?

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 vacancy. Many buildings restrict nightly rental, which pushes a unit into the lower range.

How much tax do I pay on a rental property in Colombia?

Annual property tax runs 0.3 to 1.2 percent of the cadastral value, depending on the municipality. On sale, capital gains are taxed at 15 percent if the property was held for two years or more. Ask for the current predial receipt to confirm the actual rate.

How long does it take to close on a rental purchase?

Closing normally takes 30 to 45 days once the deal is agreed. Buyer closing costs run about 2 percent of the price: notary 0.27 percent, registry 0.67 percent and beneficencia 1 percent, plus your lawyer's fee.

What document proves the seller owns the property?

The certificate of tradition and freedom, requested using the property's registry number. It shows the registered owner plus any mortgages, liens and encumbrances. Review it before paying anything, including a reservation deposit.

Mike Zapata

Real Estate Broker, Mike Zapata Real Estate · Real estate broker, Guatapé and eastern Antioquia. Specializing in Guatapé and El Peñol, Antioquia, Colombia. Founder of Mike Zapata Real Estate and the guide behind the Guatapé Properties and Guatapé Finca Raíz portals.

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