Reasons to Own Property in Cartagena

1. Tourism and Cultural Appeal: Cartagena is a popular tourist destination with its historic Old Town, beautiful beaches, and rich cultural heritage. This makes it an attractive location for short-term rentals and vacation homes.
2. Economic Growth: Colombia, in general, has experienced steady economic growth over the past decade, and Cartagena has been no exception. The city's growing economy can lead to increased property values. 
3. Real Estate Appreciation: The city has seen consistent real estate appreciation in recent years, which can be appealing for investors looking for long-term capital gains.
4. Strong Rental Market: Cartagena's tourism industry creates a strong demand for rental properties, whether for vacationers or long-term residents. Investors can potentially earn rental income year-round.
5. The city is making a substantial investment, allocating millions for the expansion of its existing international airport, elevating its capacity to accommodate 7 million passengers annually. Simultaneously, a groundbreaking project is underway, as the city is constructing an additional mega airport with the capability of handling an impressive 33 million passengers per year. This strategic development positions the city as a hub for increased connectivity and a gateway for a growing number of travelers.
6. Infrastructure Development: The city continues to invest in its infrastructure, including improvements to transportation and public services, which can boost the overall appeal of the city.
7. Legal Framework: Colombia has established a more investor-friendly legal framework, making it easier for foreigners to own property and invest in real estate.
8. Low or No Property Taxes: Property taxes in Colombia, including Cartagena, are relatively low, which can be advantageous for property owners.
9. Tax Benefit for American Investors: Your visit to this thriving Caribbean destination may qualify for a tax deduction, especially if it is related to monitoring and managing your investments.
10. Lifestyle and Retirement Destination: Cartagena's warm climate, beautiful scenery, and vibrant culture make it an attractive destination for retirees looking to invest in a second home or retirement property.

Keep in mind that investing in real estate anywhere involves risks, and it's essential to conduct thorough market research, consider local regulations and taxes, and consult with experts in the field before making any investment decisions.