Can foreigners buy property outright in both Medellín and Lisbon?

Yes. Both Colombia and Portugal allow foreigners to hold property directly in their own name without residency requirements, local partner obligations, or ownership caps.

Which has better rental yields, Medellín or Lisbon?

Medellín. Gross yields in Medellín range from 5% to 8%, with well-located short-term rentals in El Poblado and Laureles reaching the upper end. Lisbon gross yields have compressed to 3.5–4.5%, with studios performing best at around 4.5%.

Does buying property in Portugal still give you a Golden Visa?

No. As of October 2023, Portugal's Golden Visa no longer accepts real estate investment. The program continues through €500,000 investment funds, cultural donations, research investment, or business creation with 10+ jobs.

What is the minimum budget to invest in Medellín vs Lisbon?

In Medellín, around $100,000 USD can buy a 65 m² apartment in a solid residential neighborhood like Belén. In Lisbon, expect to start at around €325,000 for a studio in a central location.

Which market has more currency risk for US buyers?

Medellín, by a wide margin. The Colombian peso trades in a 15–20% annual range against the dollar. The euro is structurally more stable and tends to trade in narrower bands against the dollar.

Is short-term rental still legal in both cities?

Yes, but with increasing regulation. Medellín allows short-term rentals under Ley 2068 de 2020, though saturated zones are being actively monitored. Lisbon allows short-term rentals (Alojamento Local) but has ongoing restrictions in parts of the historic center and rising tax on rental income outside the moderate-rent framework.

Medellín vs Lisbon: Where Should Digital Nomads Actually Buy Property in 2026?

One is a compressed-yield European capital where capital preservation beats cash flow. The other is a high-yield Latin American market where you earn your return from rent, not repricing.

Published on: April 24, 2026

Quick answer: Medellín and Lisbon are almost opposite property bets despite topping the same digital-nomad lists. Lisbon is a compressed-yield European capital (around €5,400/m² with gross yields of roughly 3.5–4.5%) where you buy hard-currency capital preservation and Euro stability, but a property purchase no longer grants a Golden Visa. Medellín is a high-yield Latin American market (around