Cartagena

Cartagena is Colombia's premier Caribbean tourism market, a UNESCO World Heritage walled colonial city whose Centro Histórico, Bocagrande high-rises and revitalised Getsemaní draw international visitors and short-term-rental investors year-round. Property is split between heritage facades inside the walls, beachfront towers on the peninsula, and emerging districts like Manga and La Boquilla. The arrival of luxury brands (a Four Seasons in 2026) signals a move up-market. The key risk is short-term-rental oversupply: with thousands of listings, falling occupancy and tightening licensing, marketed gross yields should be discounted heavily to realistic, occupancy-adjusted returns.