Key takeaways
- An apartment with a typical ask near US$154K at the low end of the long-term range and a finca at a typical US$446K at the top are different businesses: the finca costs far more to maintain in grounds, water systems, access roads and a caretaker.
- The 8 to 15 percent gross range in Guatapé is real, and so is the stack behind it: platform commission on every booking; cleaning per turnover; utilities in full (a pool or hot tub is not trivial); furnishing and linens replaced every few years; heavier wear; and low-season vacancy.
- 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.
- Capital gains are 15 percent if you held two years or more; below that the treatment is heavier.
- In Guatapé and El Peñol an apartment starts at around US$86K with a typical ask near US$154K, against roughly US$91K and US$191K across Antioquia.
A rental property does not keep the whole rent. From gross rent, budget property tax at 0.3 to 1.2 percent of cadastral value a year, administration fees on apartments, insurance, maintenance, and a management cut if you are not local. On a long-term rental yielding 5 to 9 percent gross, those costs typically pull the figure down by one to two percentage points. Short-term rentals, at 8 to 15 percent gross, lose more.
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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Which costs come off long-term rent first
Long-term leases put most running costs on the landlord. The tenant pays utilities and, in most contracts, nothing else. You keep paying:
- Property tax (predial): 0.3 to 1.2 percent of the cadastral value each year, set by the municipality; Guatapé, El Peñol, Rionegro and Medellín each apply their own rate.
- Administration fee: monthly in any apartment building or gated condominio, the largest recurring line after tax.
- Maintenance and repairs for anything structural or pre-existing.
- Management, a monthly percentage of collected rent if you live abroad.
- Income tax and withholding. Rental income is declarable, and a non-resident owner's position differs from a resident's; this is where an accountant earns the fee.
An apartment with a typical ask near US$154K at the low end of the long-term range and a finca at a typical US$446K at the top are different businesses: the finca costs far more to maintain in grounds, water systems, access roads and a caretaker.
Why short-term rentals lose more of the gross
The 8 to 15 percent gross range in Guatapé is real, and so is the stack behind it: platform commission on every booking; cleaning per turnover; utilities in full (a pool or hot tub is not trivial); furnishing and linens replaced every few years; heavier wear; and low-season vacancy. The honest comparison is 15 percent minus a large operating stack against 9 percent minus a smaller one, and the gap narrows. Where weekend and holiday demand is concentrated, short-term can still win; it depends on your occupancy, not the headline rate. See the full guide for how rent itself is set.
What the purchase itself costs before any rent arrives
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. Closing takes 30 to 45 days. Before signing, verify the certificate of tradition and freedom (registered owner, mortgages, liens, encumbrances) and the territorial plan, which determines whether a parcel allows country housing, subdivision, or agricultural use only; a rural parcel zoned agricultural is not a short-term rental plan.
How the exit is taxed
Capital gains are 15 percent if you held two years or more; below that the treatment is heavier. Appreciation has historically run 7 to 8 percent a year: history, not a forecast, and not income until you sell.
Does the entry price change the net picture
In Guatapé and El Peñol an apartment starts at around US$86K with a typical ask near US$154K, against roughly US$91K and US$191K across Antioquia. A finca starts around US$166K and typically asks about US$446K, against around US$263K and US$573K. An apartment carries an administration fee but little land; a finca carries no fee but real grounds maintenance. Match the asset to the operation you will run from wherever you live.
What about the highway
The Devimed concession reverts on July 31, 2026, the financing trust is expected in 2027 and handover to Invías in 2028, so major works would not begin before late 2027. Plan on today's drive times.
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 difference between gross and net rental yield in Colombia?
Gross is annual rent divided by purchase price. Net subtracts property tax, administration, maintenance, insurance and management. Long-term has yielded 5 to 9 percent gross, short-term 8 to 15 percent gross.
Who pays the administration fee, the landlord or the tenant?
In most long-term leases the landlord carries it; the tenant pays utilities.
How much is property tax on a rental in Antioquia?
0.3 to 1.2 percent of the cadastral value annually, set by each municipality.
Do I pay capital gains tax when I sell a rental property in Colombia?
Yes: 15 percent when held two years or more.
What should I verify before buying a property to rent out?
The certificate of tradition and freedom, and the territorial plan's land use for the parcel.
