The real estate boom in Santa Marta: a prime destination for living and investing
With its unique blend of history, nature, and modern development, Santa Marta has become a sought-after destination—not just for tourists, but for those looking to live or invest in a thriving coastal city. Its breathtaking beaches, ideal climate, and expanding infrastructure have positioned it as one of Colombia’s top real estate markets.
To better understand this growing trend, we spoke with Ernesto Forero, a lawyer specializing in commercial and real estate law and Managing Partner at EF Legal & Asociados. He shares his insights on the opportunities and challenges shaping the city’s real estate landscape.
Santa Marta’s real estate sector has experienced a remarkable surge in recent years, driven by several key factors. “Since the pandemic, people have realized they can work remotely from anywhere, and many have chosen Santa Marta as their home base,” explains Forero. Along with this shift, the city offers a lower cost of living, steady property appreciation, and a growing wave of international tourism—drawing more people to its charm and lifestyle.
The real estate demand in Santa Marta comes from a diverse range of buyers, each with distinct interests. “Retirees looking for a peaceful retreat or long-term stays prefer the tranquility of Pozos Colorados,” says Forero. “Meanwhile, investors focused on short-term vacation rentals are targeting Rodadero Sur, while remote workers and digital nomads are drawn to the vibrant energy of the Historic Center and the natural surroundings of Minca or Buritaca.”
The Challenges of urban Growth
However, Santa Marta’s rapid expansion has also presented challenges, particularly in infrastructure and public services. “The city’s population has grown faster than its planning, putting pressure on essential utilities,” Forero points out. Yet, he sees this as an opportunity: “The key is to plan and invest in the necessary infrastructure for the near, medium and long-term. If this is addressed, Santa Marta’s potential will be unstoppable.”
Future perspectives
Looking ahead, Santa Marta is poised to become a strategic hub not just for tourism but for trade and investment in emerging industries. “In the coming years, the city will solidify its role as a key logistics center for international trade, offshore energy projects, and data center development,” Forero highlights. This expansion will further increase demand for housing, goods, and services—making it an even more attractive place to live and invest.
Beyond its stunning landscapes and rich culture, Santa Marta is a city in transformation. With the right approach and strategic planning, its growth will continue to attract those seeking a high quality of life, strong investment potential, and a dynamic environment.
Key legal considerations for a save investment
For those looking to invest in Santa Marta, proper legal guidance is essential. “We act as the eyes, ears, hands, and conscience of our clients,” Forero emphasizes. His firm provides comprehensive support, ensuring that every transaction meets legal requirements and mitigates unnecessary risks. Key considerations include verifying property titles, understanding zoning regulations, and, for foreign investors, assessing the need to establish a business entity and obtain specialized tax advice.