Key takeaways
- A local sits inside a horizontal property regime.
- Both carry annual property tax of 0.3 to 1.2 percent of the cadastral value, often set higher for commercial units, so ask for the actual predial statement.
- The Devimed concession reverts on July 31, 2026, with the financing trust expected in 2027 and handover to Invías in 2028, so major works would not begin before late 2027.
- Then sign a promesa de compraventa; closing takes 30 to 45 days.
- Capital gains are 15 percent when held two years or more.
A local is a titled unit inside a horizontal property building: it has its own registry number, pays administration, and is bound by the building's reglamento. A bodega is normally a standalone industrial or storage building on its own lot, with no shared administration but with heavier land use restrictions. The split changes your monthly outgoings, your tenant pool, and what you may do on the first day.
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 actual legal difference between a local and a bodega?
A local sits inside a horizontal property regime. The registered, enforceable reglamento de propiedad horizontal can restrict hours, signage, smells, noise, waste and even permitted activities; one that bans food preparation makes your unit unrentable to a restaurant tenant. A bodega on its own lot has no reglamento, but the municipality's territorial plan alone decides what activity the parcel allows. Some bodegas sit in industrial condominiums, which gives you both: if the matrícula ends in a sub-number and the deed references common areas, you are in a horizontal property regime whatever the listing says.
Which one costs more to hold each month?
The local has a monthly cuota de administración (security, cleaning, lifts, common utilities, a reserve fund), payable during vacancy. Ask for twelve months of receipts and the paz y salvo. The bodega has none unless in a condominium, but you own the roof, facade, drainage and perimeter with no reserve. Both carry annual property tax of 0.3 to 1.2 percent of the cadastral value, often set higher for commercial units, so ask for the actual predial statement. Buyer closing costs are about 2 percent: notary 0.27 percent, registry 0.67 percent and beneficencia 1 percent, plus your lawyer.
Which rents more easily in Medellín?
A ground floor local on a street with footfall rents to a wide pool (pharmacy, bakery, clinic); a second-floor local without frontage to a far narrower one. Visit on a weekday morning and a Saturday afternoon. A bodega rents to logistics, light manufacturing and storage on longer leases with tenant fit-out; access (turning radius, ceiling height, loading dock, the road to the door) is everything. The Devimed concession reverts on July 31, 2026, with the financing trust expected in 2027 and handover to Invías in 2028, so major works would not begin before late 2027.
What do you verify, and in what order?
- Certificate of tradition and freedom, requested with the registry number: registered owner, mortgages, liens, encumbrances.
- Local: the full reglamento, current administration fee, paz y salvo and last assembly minutes.
- Bodega: the municipal land use certificate for that parcel; confirm the activity is legal, not merely tolerated.
- Predial and utilities paid.
- Any existing lease: deposit, term, renewal and indexation.
Then sign a promesa de compraventa; closing takes 30 to 45 days. Register money from abroad correctly at transfer.
What about resale and tax?
Capital gains are 15 percent when held two years or more. Long-term rentals have yielded 5 to 9 percent gross a year and appreciation has historically run 7 to 8 percent a year, historic figures, not a forecast. A vacant local earns nothing while billing administration; a vacant bodega earns nothing while you maintain a roof. In Antioquia an apartment starts at about US$91K with a typical ask near US$194K; a commercial unit should earn more than that to justify the narrower tenant pool. For the process, 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
Does a bodega pay a monthly administration fee in Medellín?
Only inside an industrial condominium. A standalone bodega has none, but you carry the roof, drainage, facade and perimeter yourself.
Can the building stop me from running a restaurant in a local I own?
Yes. The reglamento can restrict permitted activities, hours, smells and waste regardless of zoning.
How do I check who really owns a commercial unit before I pay anything?
Request the certificate of tradition and freedom with the registry number. If the owner is not the seller, do not proceed.
What are the closing costs on a commercial purchase in Medellín?
About 2 percent plus your lawyer's fee, then annual property tax of 0.3 to 1.2 percent of the cadastral value.
How long does it take to close on a commercial property?
30 to 45 days once the deal is agreed; pending liens are the usual cause of delay.
