Medellin real estate: Zone 1 – Downtown Medellin

Parque Bolivar

In my last post I described how Medellin real estate professionals have found it practical to divide the city into four distinct zones. In this post I will talk specifically about Zone 1. El Centro (Downtown Medellin) makes up a large part of Zone 1. Like the the downtown of any large city, El Centro is where one will find most of the large office towers, museums, public parks and government offices. Street vendors and discount retail stores abound and the streets of El Centro are packed with shoppers, commuters and people from all walks of life from early in the morning to late in the evening. Most foreigners are told to stay away from El Centro for safety reasons. I personally love El Centro, and go there often, even at night. Clearly El Centro is not Poblado, and one should remain aware when walking the streets, especially at night.

Downtown Medellin

On the real estate front, El Centro offers many options, although most of my clients prefer a cleaner, quieter neighborhood. Nonetheless, for the adventurous, there are some great deals to be had in El Centro. Most upwardly mobile Colombians posses the desire to leave the hustle and bustle of the downtown area and move to a quieter neighborhood. The suburban flight has forced many downtown apartment owners to lower their prices. In fact, I have seen small units close to the Metro and the Botero Museum for less than $30,000.

Prado Centro Medellin

The rest of Zone 1 is made up of a number of barrios surrounding El Centro. Generally these areas are safe, yet I do not see alot of foreigners requesting information about real estate in these areas. The neighborhoods surrounding El Centro are comprised mainly of one or two-story single family residences and small apartment buildings. Construction quality is average in these neighborhoods, but there are some small pockets where one can find high-quality homes and apartments for less than $50 per square meter.