CARTAGENA SALES ARE UP!

Traditionally, real estate sales movement, up or down, is led by domestic markets, followed by buyers from other countries. Colombia is no exception. During the first quarter of 2004, Cartagena has experienced a steady increase in housing and apartment sales. The buyers are Colombians from within the country, and secondly, Colombians living principally in the U.S. And Europe. The third segment of our buyer's market are retirees from Europe and North America. Many are seeking a partner or marriage relationship with a Colombian woman. Others are strapped economically, and want to improve their lifestyle. If a retiree already owns a Cartagena apartment, a $600-$800 total monthly income can provide a very comfortable (ring the bell for the maid?) living.

COLOMBIAN/AMERICANS RETURNING TO COLOMBIA:

Many Colombian buyers are recent retiree's in the U.S. They are moving back to Colombia for a more stable and financially comfortable retirement. Rising and unpredictable stateside expenses relating to: medical, insurance and taxes, plus of course being closer to family and the more relaxed Hispanic culture, are their reasons for “coming home”.

RETURN VISITS PROVIDE THE CLUE TO THE RECENT MARKET ACTIVITY:

Colombians living in the U.S. routinely return to Colombia for dental and medical treatment. Many procedures, are equal in quality to those found in the states. Savings of 60-70% of U.S. Costs, often pays for the trip. The frequency of their visits provides clues, making it easier for them to recognize positive activity and big changes. While we who enjoy Cartagena on a full time basis, often fail to notice the smaller day-to-day changes.

MARKET HEATING UP - STILL A BUYER'S MARKET!

Paul Juan says: “The activity keeps me hopping. “Lookers” repeated comments about increasing prices are frustrating, but true. Prices are steadily moving up, but I don't set the prices, the market does! I have to smile, for when the lookers become buyers, the shoe is on the other foot, and they actually brag about the prices going up! As word continues to spread, Cartagena on the Caribbean is becoming a highly desirable and sought after international living, investment and retirement location. Come on down!”.