REAL ESTATE - MEDELLIN-COST OF APARTMENTS
Medellin, as in other major cities in Colombia, is undergoing a housing boom. New apartment projects are going up everywhere and re-sales are enjoying a brisk demand as well. Using the newspaper as a data source, two consecutive Sunday issues were used to arrive at the following information. In determining a more reliable per square meter average, the figures for the two most expensive and two least expensive properties in each Zone, were not used. HOUSES-Because of the various size building lots associated with free standing houses, it is difficult to arrive at an average price per square meter that is a good guide to current asking prices. However, as you would expect, prices were in correlation to the geographical Zones, 1,2,3 or 4. As an example, in Zone 2, the avg. cost of houses was about 25% greater, per sq. meter, than the average asking price of apartments located in the same Zone.