Description of Colombia
Over the past seven years or so, the way in which the property market in Columbia has grown and strengthened has been truly mind-blowing. Somehow staving off the effects of the global economic downturn, property values have exploded year after year as businesses, tourists and new full-time residents flock into Columbia.
However, investors may be put off by the somewhat painful taxation system imposed by the government – foreign investors are charged a flat rate of 33% on their rental income. Still, net yourself a real money-maker in Bogotá or on the Caribbean coast and there’s a good chance you’ll still come out of the deal smiling. Colombia’s resilience and progress really demand respect and attention, especially if looking for a solid choice for international property investment.